Which of the following are considered indirect costs for workplace accidents quizlet?
In addition to their social costs, workplace injuries and illnesses have a major impact on an employer's
bottom line. It has been estimated that employers pay almost $1 billion per week for direct workers' compensation costs alone. The costs of workplace injuries and illnesses include direct and indirect costs. Direct costs include workers' compensation payments, medical expenses, and costs for legal services. Examples of indirect costs include training replacement employees, accident investigation and implementation of corrective measures, lost productivity, repairs of damaged equipment and
property, and costs associated with lower employee morale and absenteeism. The following resources provide background on the costs of workplace injuries and illnesses and how employers can estimate these costs at their workplaces.
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Which of the following are considered indirect costs for workplace accidents ?\?Indirect Costs are unbudgeted expenses that a company has to endure unexpectedly. This includes training replacement employees, overtime, equipment loss, accident investigation, loss of productivity, and absenteeism.
Which is an indirect cost of accident?The hidden or indirect costs, which are uncaptured by the accounting system or not attributed to accidents, are grouped under six headings: wage costs, material damage, administrator's time, production losses, other costs and intangible costs.
What are the direct and indirect cost of accident?Direct costs are expenses that are covered by your workers' compensation insurance. Indirect costs are unexpected costs not compensated by your workers' compensation policy and vary by the extent of the employee's injury.
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