Question One a) Distinguish between day rate and piecework rate b) A worker is paid differential piecework. The scheme is as follows: Up to 50 Units per day N50 per unit 51 - 70 Units per day N60 per unit 71 - 80 Units per day N65 per unit 81 - 100 Units per day N70 per unit His daily outputs for a five day week were 68 units, 83 units, 59 units, 94 units and 47 units. What will be his gross pay for the week? c) Explain the term labour turnover and state four causes of labour turnover Question Two Abukasin Nig Limited is a manufacturing company with no properly defined purchasing policy for its major raw materials. As a cost accountant, you have been provided with the following information for a specific raw material: Monthly demand Purchasing cost per unit Annual carrying cost per unit Ordering cost per order N5,000 NIO 10% of the cost of material N1,200 You are required to calculate: i. Economic order quantity ii. The number of orders per year iii. The total ordering cost for the material per year iv. The total carrying cost for the material per year V. The total monetary cost per annum