Question

38. Which of the following techniques is not meant for labour cost control?
(A) Budgetary control
(B) Ratio analysis
(C) ABC Analysis
(D) Standard costing​

Answer 1

Answer:

option c

ABC ANALYSIS

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Answer 2

The ABC analysis technique is not meant for labor cost control.

• Budgetary control states the financial jargon that is measuring and managing the income and expenditure and identifying wheater any corrective actions are required or not. it's comparing the real expenses with the planned budgets.
• Ration analysis is a quantitative way of gaining information about the liquidity of a firm, and its profitability by studying the financial situation of the firm.
• The ABC analysis is a management technique that sets the importance of inventory items based on the products and services the firm deals with. It arranges the data into groups based on demand, cost, and risk data.
• Standard costing is one of the procedures of using the predetermined standard costs to find out the costs, labor, and factory overhead.

Hence, option (c) ABC analysis is the correct option.