A worker took 60 hours to complete a job in a factory. The normal rate of...

 

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A worker took 60 hours to complete a job in a factory. The normal rate of wages is 80 per hour. The worker is entitled to receive bonus according to the Halsey Premium Plan. Factory overhead is recovered on the job at 60 per man hour actually worked. The factory cost of the job is 37,280 and material cost of the job is 28,400. Required: (i) Calculate the standard time for completing the job and effective hourly rate under the Halsey Premium Plan. (ii) Calculate the effective rate of earnings per hour if wages would have been paid under the Rowan Plan. A worker took 60 hours to complete a job in a factory. The normal rate of wages is 80 per hour. The worker is entitled to receive bonus according to the Halsey Premium Plan. Factory overhead is recovered on the job at 60 per man hour actually worked. The factory cost of the job is 37,280 and material cost of the job is 28,400. Required: (i) Calculate the standard time for completing the job and effective hourly rate under the Halsey Premium Plan. (ii) Calculate the effective rate of earnings per hour if wages would have been paid under the Rowan Plan.

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