2. Name Id No
Tasnia Anowar 1669
Tania Sultana 1682
Md.Abdullah-Al-Noman
(Group Leader)
1693
Md.Hamidur Rahman 2327
Accounting Ants
3. Cost accounting method system technique followed by
“Lalbag Chemical & Perfumery Works Ltd”
4. Labor costing system of “Lalbag Chemical
& Perfumery Works Ltd”
Their labor costing regarding the production
labor cost is fixed and has a fixed structure
based on the production of units.And indirect
labor cost is based on a monthly basis.
5. Cost accounting techniques of “Lalbag
Chemical & Perfumery Works Ltd”
Historical Cost Concept
• Recently they purchase a building after 1998 for
20 lakh
• Original building price on balance sheet 20 lakh
• Even current market values of this building is
well 30 lakh.
• But LCPWL will keep on its balance sheet 20
lakh until its either retired or sold.
9. What About their Fixed & Variable
Cost?
Their Variable Cost
Wages representatives
Utilities
Materials used in production
Their Fixed Cost
Salaries of employees
Buildings Rent
Machinery
Insurance cost
10. What inventory method is followed by
Lalbag Chemical & Perfumery Works Ltd:
Lalbag Chemical & Perfumery Works Ltd follows
FIFO methods for recording inventory.
11. House rent cost of the company:
There business premises are located at their own
building and land.Hence they have no house rent
required.
12. Transportation facilities of the company:
They provide transport facilities pick up and drop outs to
their employees to accelerate transportation facilities.
13. weekend facilities or opportunities:
They have weekend of one day in a week
(Sunday).
They provide parental leave,
They provide Sick leave
leaves as required by the employees that are
reasonable.
15. Their Salaries affected by the leaves
If employee want to leaves on middle of the
month lalbag company pay the salary
according employees working hours.
Sometimes they pay the full salary if that
employee may show the proper reasons for
their leaves or absence
16. What about their warehouse cost
They are small manufacturer company that they
keeps inventory in their warehouse and pay for
warehouse staff to assemble products for
shipment.
19. Leaves
Leaves are allowed for emergencies and proper
reasons like:
Emergencies
Sick leave
Parental leaves,
Festival leaves and
Any other reasonable
20. Other Facilities we provided to
Workers:
Medical Facilities
Incentive & Bonuses
Lunch & Tiffin Allowance
Transport Facilities
Entertainment Facilities
surprise gift for adroit employees
21. Administrative expense
Accounting staff salaries
Building rent
Executives wages and benefits
Depreciation on office fixtures and equipment
Insurance
Various office supplies, accounting and tax fees, legal
fees, and electricity and water bills
22. Recruitment Process
Identify a job vacancy
Conduct a job Analysis
Prepare a job Description
Prepare a person specification and Advertise
Conduct an Interview
Screening
Select the Proper persons and Examine them.
Select the best one for the Job
23. Labor Turnover
Labor turnover is the ratio of the number of
workers leaving the organization during a given
period to the average number of workers of that
organization during that period.
24. Steps for reducing labor turnover
Hire the right people
Fire people who don’t fit
Keep compensation and benefits current
Recognize and reward employees
Offer flexibility
Prioritize employee happiness