ECONOMICS

Detailed explanation-1: -Time booking is the recording of time spent by a worker on different jobs or work orders carried out by him during his period of attendance in the factory.

Detailed explanation-2: -Time booking means the recording of time of each worker spent on various jobs during his period of attendance in the factory. Objectives of Time Booking: The following are the objectives of time booking: 1.

Detailed explanation-3: -Each worker is given a time sheet wherein jobs done in a week are recorded. It is quite similar to Daily Time Sheet. It reflects a consolidation of the total hours worked during a particular week. This method is useful where there are few jobs in a work.

Detailed explanation-4: -Muster Roll is used for keeping a complete record of attendance, payment made, unpaid wages, and work done by daily labour engaged in the execution of works. It is the basic records of payment made to daily labour. After the payment is made, the muster roll is kept as a voucher.

Detailed explanation-5: -Time Keeping is concerned with the attendance and wage calculation of employees whereas Time Booking is the reporting of each worker’s time for each job and department for cost analysis and dividing labour cost into various jobs and departments.