Compensation and Dividend Calculations Quiz

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Questions and Answers

What is the formula used to calculate the dividend charges payable to General revenue for a year?

Capital-at-charge to end of the previous year plus half of the anticipated capital outlay for the year (correct)

Total revenue minus total expenses for the year

Anticipated capital outlay for the year only

Capital-at-charge at end of the year only

Which of the following components can be reduced by GM for exports with the concurrence of FA and CAO?

Fixed components of overheads and profit (correct)

Variable costs associated with production

Direct labor costs

Marketing and distribution expenses

What does the proforma charges mentioned in the table primarily consist of?

Direct expenses incurred during production

Direct worker wages and salaries

Overhead costs only

Dividend and other overhead charges (correct)

How should the dividend be distributed according to the instructions provided?

Over the number of locomotives, coaches, etc. Signup and view all the answers

In the percentage calculations for actuals mentioned, which of the following categories is included?

Private parties and public sector undertakings Signup and view all the answers

Which of the following components is likely included in the incentive bonus structure for direct workers?

Labor Costs Signup and view all the answers

What type of compensation is typically offered to direct workers in the context provided?

Performance-Based Bonuses Signup and view all the answers

Which category of workers is considered essential indirect workers as per the outlined structure?

Administrative Staff Signup and view all the answers

In the standard hour calculation, which of the following is included under the categories listed in the structure?

Production Overhead Signup and view all the answers

What factor affects the adjustments made to bonus payments in the structure provided?

Actual Performance Metrics Signup and view all the answers

What influences the calculation of the percentages for Factory Overhead as described?

Direct wages of Production Jobs including incentive bonuses and overtime payments Signup and view all the answers

Which position is responsible for issuing fresh work orders for Overheads in consultation with finance?

Chief Mechanical Engineer of every Production unit Signup and view all the answers

How frequently should the overhead percentages be reviewed?

Once in 5 years as stipulated Signup and view all the answers

When calculating overhead for exports, who has the authority to reduce fixed overheads and profit?

General Manager of a zonal Railway/Production Unit Signup and view all the answers

Which of these is NOT a reason for overhead allocation described in the content?

Allocation of bonuses for all workers based on hours worked Signup and view all the answers

Study Notes

Indian Railway Rolling Stock Code

This code was first published provisionally in March 1940.
It had four reprint editions in 1944, 1950, 1970, 1974, and 1991.
Subsequent updates were brought in 2008, 2016.
This code was revised incorporating inputs from IRIMEE and Railway officers.
It supersedes all existing rules and orders issued by the railway board for the subjects within it, unless otherwise implied.
Information, suggestions and comments welcome for future editions.

Preface

The State Railway Code for the Mechanical Department was first published provisionally in 1940.
The first reprint edition was issued in 1944.
Subsequent revisions were published in 1950, 1970, 1974, and 1991 with correction slips up to No. 7 of 2008.
It was updated in 2016 with new techniques in manufacturing and maintenance, group incentive schemes, biometric attendance systems, and environmental management.
This code is now revised incorporating important issues, such as, linkage of biometric attendance with wages, costing and incentives, and more.

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Description

Test your understanding of compensation structures, dividend calculations, and related financial components in this quiz. Answer questions regarding the components involved, reductions for exports, and the distribution of dividends as per given instructions. This quiz focuses on the essential elements in direct and indirect worker categories.