Reduction of labour turnover and idle time help us to control (a) Material cost (b) Standard cos

Step 1: Understand the terms in the question. - **Labour turnover** refers to the rate at which

Reduction of labour turnover and idle time help us to...

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Key Concepts

Labour Cost

Labour cost pertains to the total monetary compensation and benefits paid to employees, along with additional expenses related to recruiting, training, and managing the workforce. Effective management of labour cost involves optimizing workforce productivity and minimizing unnecessary expenditures, which can include costs associated with high employee turnover and periods of unproductive work.

Labour Turnover

Labour turnover is the rate at which employees leave an organization and are replaced by new hires. High turnover can lead to increased recruitment, training, and transition costs, negatively impacting overall operational efficiency. Reducing labour turnover is crucial in maintaining a stable workforce, which in turn helps manage and reduce labour costs.

Idle Time

Idle time refers to periods during which employees are paid but not productively engaged in tasks. This unproductive time results in wasted labour resources and increased operational costs. By addressing and reducing idle time through better scheduling, workflow management, and operational planning, organizations can significantly lessen labour costs.

Reduction of labour turnover and idle time help us to control (a) Material cost (b) Standard cost (c) Labour cost (d) None of above

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