Fixed Asset Report

Topics: Depreciation, Generally Accepted Accounting Principles, Working time Pages: 4 (1063 words) Published: May 11, 2013
This fixed asset will give insight for Longhaul Carriers, owned by Jimmy Mavela. Longhaul Carriers is a transport company that transport goods between Durban and Johannesburg. The company has three heavy-duty trucks and employs three drivers who either work day or night shifts. This report will cover fair remuneration for drivers, working hours, maximise earnings, profitability and effective control for the future of Longhaul Carriers. Fair remuneration for drivers

Calculations:Drivers remuneration per round trip x Average number of round trips made per week / Average number of hours each round trip takes| Truck 1:500 x 4 =R2000/15=R133.33 p/h| Truck 2:450 x 7=R3150/10=R315 p/h| Truck 3:550 x 6=R3300/13=R253.85 p/h|

According to the hourly rate per driver, I assume that Jimmy is paying each driver fairly for their work done. According to the hourly rate per driver, the discrepancies amongst the employees, in my opinion is not fair, even though each driver is being paid for work done, there is a big difference between them, so what is the reason for that? Working hours

Calculations:Average number of round trips made per week x Average number of hours each round trip takes| Truck 1:4 x 15=60 hours| Truck 2:10 x 7=70| Truck 3:13 x 6=78|

Jimmy is not treating his workers fairly, because according to the hours laid down by the Department of Labour in the Basic Conditions of Employment Act, “(1) The ordinary hours of work of an employees working in Road Freight and Logistics Industry may not exceed 45 in any week. (2) Subject to sub-clause (1 ), ordinary hours of work per day may not exceed- (a) nine hours for employees who work a five-day week;

(b) eight hours for employees who work a six-day week, provided that an employee's ordinary hours of work may not exceed five hours on a Saturday.” The truck drivers of Longhaul Carriers all exceed the ordinary hours of work. Driver of truck 1 works a total 60 hours in a week which equates to 15 hours per...
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