In Star Engineering Works, the standards time for a job is 16 hours and the basic...

 

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In Star Engineering Works, the standards time for a job is 16 hours and the basic wage is Re 1 per hour. A bonus scheme is instituted so that a worker is to receive his normal rate for hours actually worked and 50% for the hours saved. Materials for the job cost Rs. 20 and overheads are charged on a basis of Rs. 2 per labour hour. Calculate the wages and effective rate of earning per hour if the job is completed: (i) in 12 hours and (ii) in 14 hours. Also ascertain the factory cost of the job on the same basis. In Star Engineering Works, the standards time for a job is 16 hours and the basic wage is Re 1 per hour. A bonus scheme is instituted so that a worker is to receive his normal rate for hours actually worked and 50% for the hours saved. Materials for the job cost Rs. 20 and overheads are charged on a basis of Rs. 2 per labour hour. Calculate the wages and effective rate of earning per hour if the job is completed: (i) in 12 hours and (ii) in 14 hours. Also ascertain the factory cost of the job on the same basis.

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Lets start by calculating the total wages for the job based on the bonus scheme Total hours saved st... View the full answer