COST ACCOUNTING
INTRODUCTION TO COST ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Full wages are paid to workers
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No production is given by the workers
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Both (a) & (b)
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(d) None of the above
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Detailed explanation-1: -Idle time, sometimes referred to as waiting time, is the time lost due to work stoppages in which machines and/or employees are ready and available but can not be productive.
Detailed explanation-2: -Idle time can be normal or abnormal. Normal idle time is part of the normal production cycle and is caused by factors beyond the control of management.
Detailed explanation-3: -Solution(By Examveda Team) Idle time is time spent by workers off their work. Idle time is unproductive time on the part of employees or machines caused by management or as a result of factors beyond their control.
Detailed explanation-4: -For example, say a maintenance technician clocks 6 hours of productive work over the course of an 8-hour shift on Monday. That means he experienced 2 hours of idle time.
Detailed explanation-5: -Idle Time = Scheduled Production Time – Actual Production Time. For example, an employee may clock an 8-hour shift, but in their work tracking platform, they may only track 6 hours and 40 minutes of productive work.