scholarly journals Formation and Analysis of Labor Cost Variance Based on Standard Cost Method of Cost Management

2020 ◽  
Keyword(s):  
Cost Management ◽  
Labor Cost ◽  
Cost Variance ◽  
Standard Cost

Analisis Penerapan Biaya Standar terhadap Pengendalian Biaya Produksi pada PG Poerwodadie

2020 ◽  
Vol 1 (1) ◽  
pp. 31-37
Author(s):  
Izzatul Ashif ◽  
Qimyatus Sa’adah ◽  
Halleina Rejeki Putri Hartono
Keyword(s):  
Data Analysis ◽  
Production Cost ◽  
Labor Cost ◽  
Raw Material ◽  
Actual Cost ◽  
Business World ◽  
Overhead Cost ◽  
Cost Variance ◽  
Standard Cost ◽  
Data Collection Technique

Abstract— Competition in the business world requires companies to be able to manage their production cost effectively and efficiently. One of the method that can be use to controlling  production cost is a standard cost. This research aims to analyze the implementation of standard cost on controlling of production cost at PG Poerwodadie. The data collection technique are used by interview, documentation, and data triangulation. Data analysis in this research is done by setting the standard cost and analyzing using the two-way model  variance. The results of the research indicate that between the standard cost and actual cost incurred by PG Poerwodadie there is a favorable variance of Rp 2,667,683,61, which consist of raw material cost variance amounting to Rp 2.173.301.277 (favorable), direct labor cost variance amounting to Rp 539.403.640 (unfavourable), and factory overhead cost variance amounting to Rp 1.033.785.975 (favorable). Keywords—: standard cost; production cost; variance analysis.

Performance Evaluation of Vietnamese Apparel Enterprises: An Application of DEA Approach

2021 ◽  
Vol 18 ◽  
pp. 1-9
Author(s):  
Tran Van Trang ◽  
Quang Hung Do ◽  
Minh Huan Luong
Keyword(s):  
Performance Evaluation ◽  
Cost Management ◽  
Apparel Industry ◽  
Labor Cost ◽  
Efficiency Analysis ◽  
Main Role ◽  
Dea Efficiency ◽  
Overall Performance ◽  
Dea Approach ◽  
National Industry

A continued robust growth of Vietnamese apparel enterprises has showed that they do notplay the auxiliary but the main role in the national industry. However, in general, the apparel industryin Vietnam has not met the practical requirements. In order to provide overall performance evaluationand how to achieve efficiency systematically, this study utilizes DEA approach to determine theperformance levels of 15 Vietnamese apparel industry enterprises and assess their efficiency.Specifically, we have applied output oriented model, which aims to maximize outputs while the inputsproportions remain unchanged to realize DEA efficiency analysis. CCR-based and BCC-based modelsare utilized to get overall technical and pure technical efficiencies. The findings show that havingbusiness transactions with foreign partners, good labor cost management and effective inventorymanagement are the most prominent factors in distinguishing between efficient and inefficiententerprises in Vietnam's apparel industry. The study may be a useful tool for managers to improvetheir performances and effectively allocate resources.

Bridging Modernity by Improving Informal Sector for Substantially Industrialized Construction in Developing Countries

2018 ◽  
pp. 1706-1735
Keyword(s):  
Developing Countries ◽  
Human Resources ◽  
Construction Industry ◽  
Informal Sector ◽  
Cost Management ◽  
Labor Cost ◽  
Decision Models ◽  
Improve Performance ◽  
Construction Productivity

We have argued in Chapters 1-3 that the construction industry in developing countries is dominated by the strong presence of SMEs and “jobbers”. The informal sector workers constitute the essential provider of human resources construction industry. So far, the weaknesses of the construction industry in developing countries have been identified. As a result, various decision models were proposed for largely improving labor cost management and scheduling (time) with the aim of improving productivity. In a single volume like this, it is unrealistic to cover all aspects to improve performance. This chapter will now provide ideas on how quality of projects can also be improved so as to maintain a balance between cost, time and quality. Furthermore, the management of onsite workshops that can lead to construction productivity will be examined.

The Effect of Leverage on Labor Cost Management

2018 ◽  
Author(s):  
Curtis M. Hall ◽  
Boochun Jung ◽  
Duri Park
Keyword(s):  
Cost Management ◽  
Labor Cost

Bridging Modernity by Improving Informal Sector for Substantially Industrialized Construction in Developing Countries

2016 ◽  
pp. 307-340
Keyword(s):  
Developing Countries ◽  
Human Resources ◽  
Construction Industry ◽  
Informal Sector ◽  
Cost Management ◽  
Labor Cost ◽  
Decision Models ◽  
Improve Performance ◽  
Construction Productivity

We have argued in Chapters 1-3 that the construction industry in developing countries is dominated by the strong presence of SMEs and “jobbers”. The informal sector workers constitute the essential provider of human resources construction industry. So far, the weaknesses of the construction industry in developing countries have been identified. As a result, various decision models were proposed for largely improving labor cost management and scheduling (time) with the aim of improving productivity. In a single volume like this, it is unrealistic to cover all aspects to improve performance. This chapter will now provide ideas on how quality of projects can also be improved so as to maintain a balance between cost, time and quality. Furthermore, the management of onsite workshops that can lead to construction productivity will be examined.

scholarly journals Combining simple motion measurement, lean analysis technique and historical data review for countering negative labor cost variance: A case study

2021 ◽  
Vol 13 ◽  
pp. 184797902110236
Author(s):  
Bami Adeyemi ◽  
Akinola Ogbeyemi ◽  
Wenjun Zhang
Keyword(s):  
Production Management ◽  
Historical Data ◽  
Labor Cost ◽  
Idle Time ◽  
Manufacturing Companies ◽  
Labor Costs ◽  
Motion Measurement ◽  
Simple Motion ◽  
Cost Variance

Negative labor cost variance (NLCV) is an important problem in many manufacturing companies today. NLCV refers to the situation that expected or standard costs are less than actual labor costs in production. Management of NLCV, including the identification of causes for NLCV and the elimination or significant reduction of NLCV, is the topic discussed in this paper. The question studied in this paper is thus: what is an effective methodology in the environment of strong privacy protection to identify causes for NLCV and to significantly reduce it? The study presented in this paper proposed a methodology by combining a simple motion measurement (stopwatch), lean analysis techniques, and historical data review to study the NLCV problem. A case study was taken on a particular company called ABC to test the effectiveness of this methodology. Specifically, the result of the study revealed that (1) the employees in ABC waited for one reason or the other for almost 5 h (idle time) in a 16-h daily operation period (2 shifts running at 8 h each), which accounts for 32% of the total productive time, and (2) the elimination of the waiting time or idle time over the years concerned could account for 83% of all identified wastes in ABC. Through this case study, the effectiveness of the proposed methodology was demonstrated and the applicability of the proposed methodology was also implied.

scholarly journals IMPROVING LABOR COST MANAGEMENT

2020 ◽  
Vol 2020 (1) ◽  
pp. 271-276
Author(s):  
Gul'fira Bychkova
Keyword(s):  
Cost Management ◽  
Labor Cost ◽  
Labor Costs ◽  
The Relationship

The possibility of managing labor costs through the relationship between the wage Fund, revenue and profit from sales is investigated

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