Question: Discuss any 3 differences between Time Rate and Piece Rate systems of compensation

Discuss any 3 differences between Time Rate and Piece Rate systems of compensation

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Assignment Tasks Task 1: a) Al Mazoon Establishment produces air conditioning ducts for its projects division. Salim is paid fixed monthly wage of 350 OMR on Time-Wage plan basis. However, the...

Q:

Discuss any 3 differences between Time Rate and Piece Rate systems of compensation

Q:

Managerial accounting Both time rate and piece rate systems have their merits and demerits. Incentive system attempts to combine the good aspects of both systems. The main objective of incentive plan...

Q:

What is partnership? What are the partnership deed needs? 5 What are the advantages and disadvantages of time rate and piece rate systems of wage payments? Under what circumstances each system will...

Q:

JUST NEED OPTION no need explain NO need for explanation i will rate you 19:00 OOoredoo : 0 nyelearn Question 16 No Subhash R Marked out of 1,00 In which payment system the workmen are not in a hurry...

Q:

Omar owns a factory of manufacturing shoes in Gala area. He aims to increase the profitability of the business, which can be done by encouraging his employees to be more productive. From that...

Q:

Agbalenyo 5 Star Hotel Ltd has re-engineered its costing system and has grouped its core activities into four cost centres. Accommodation Catering Leisure Outings The hotel has a mouth-watering...

Q:

. The firm Fish Packaging Ltd owns a fish packaging plant in Reykjavik, Iceland, and sells frozen fish to the domestic market. Workers in the plant are paid $10 per hour to pack fish into boxes. They...

Q:

Question 6 [25marks] A factory manufactures three components: A, B and C. Last week the following was recorded: 14 40 44 Number of Labour Grade Employees Rate per hour Individual hours worked 1 16 4...

Q:

A factory manufactures three components: A, B and C. Last week the following was recorded: 28 3.2 2.8 1.6 Number of Labour Grade Employees Rate per hour Individual hours worked 1 16 4 40 II 42 III 14...

Q:

Two electrodes are placed in a calcium chloride solution and a potential difference is maintained between them. If 3.8 1016 Ca2+ ions and 6.2 1016 Cl ions per second move in opposite directions...

Q:

Louis Whited is uncertain about the control features of a bank account. Explain the control benefits of (a) A check (b) A bank statement.

Q:

The hourly wage of an employee is $5.50, but the labor cost of the employee is considerably more than $5.50 an hour. Explain.

Q:

Total number of units that can be produced Capacity Run amount Throughput Bulk amount

Q:

3.13 A corporation has just received new machinery that must be installed and checked before it becomes operational. The accompanying table shows a managers probability assessment for the number of...

Q:

3.12 In a city of 180,000 people there are 20,000 legal immigrants from Latin America. What is the probability that a random sample of two people from the city will contain two legal immigrants from...

Q:

3.9 The sample space contains 6 As and 4 Bs. What is the probability that a randomly selected set of 3 will include 1 A and 2 Bs?