In this article we will discuss about:- 1. Definition of Time-booking 2. Objectives of Time-booking 3. Methods of Time-booking.
Definition of Time-Booking:
Time booking signifies the time spent by a worker on each job, process or operation. It is more important in case of direct workers as compared to indirect workers.
Objectives of Time-Booking:
The objectives of time-booking are:
(i) To calculate the labour cost of jobs done;
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(ii) To apportion overheads against jobs;
(iii) To evaluate performance of labour and to make comparison of actual labour time with budgeted time;
(iv) To ascertain idle time for the purpose of control;
(v) To determine overhead rates for absorbing overhead expenses under labour hour and machine hour methods; and
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(vi) To calculate bonus and wages provided the system of payment of wages depends on the time taken.
Methods of Time-Booking:
(i) Daily time sheets:
It gives in detail the activities of the worker and the time spent in each job. One sheet is allotted to each worker and a daily record is made therein. It is suitable for small organisation where the number of employee and job is small.
(ii) Weekly Time Sheets:
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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.
(iii) Job Cards or Job Tickets:
A separate job card for each job or operation is prepared. This card is allotted to each worker whenever a worker takes up a particular job. In this card the worker enters the time of commencement of a job as well as time of finishing the job. The entries in the job card may be made with the help of machines like time-recording clock.
