What is the basis of cost calculation ?
You can select between three basis. If you do not have access to individual employee’s cost you can use the average trade rate of the trade to which the worker belongs. This can be done by entering the cost in Trade Master. If you know each employee’s salary, you can enter it in the Employee Master and that will be used. On the other hand if you know how much the employee actually costs per hour (after considering the salary + other overhead like leave, tickets etc) you can enter that rate in Employee Master.
Related Questions
- During 2010, I sold fund shares inherited from my parents. Will cost basis and gain/loss information from this sale be shown on my 2010 Average Cost Accounting Statement?
- How do I receive permission to change my cost basis calculation to adopt the average cost basis and to whom should I send the letter?
- What does Net Asset Value (NAV) of a scheme signify and what is the basis of its calculation?
