In fact, I had to log X keystrokes and Y LOC every hour in order to be paid for that hour...talk about being a factory worker.
One tracked time to attempt to get r&d tax credits on certain work. The other was an agency that tracked time in case of disputes with unruly clients (such as the time we had gone through 3 project managers and 2 CFOs while we worked with them, and they were desperate to recover money from their own bad mistakes). The rest didn't track time at all.
Not to mention that LOC as a metric has been an industry joke at least since the early 80's: http://www.folklore.org/StoryView.py?story=Negative_2000_Lin... I've heard of funnier versions of that story, but haven't tracked them down yet.
Some of the most productive hours are LOC removed.
Counting keystrokes?
That sounds nightmarish, man.