During the 1st week of April, 1993, the workman Mr. Kate manufactured 300 articles. He received wages for a guaranteed 48 hours week at the rate of $ 4 per hour. The estimated time required to produce one article is 10 minutes and under incentive schemes, the time allowed is increased by 20%. Calculate his gross wages according to: (a) Piece work with guaranteed weekly wage,

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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During the 1st week of April, 1993, the workman Mr.
Kate manufactured 300 articles. He received wages
for a guaranteed 48 hours week at the rate of $ 4 per
hour. The estimated time required to produce one
article is 10 minutes and under incentive schemes,
the time allowed is increased by 20%. Calculate his
gross wages according to:
(a) Piece work with guaranteed weekly wage,
(b) Rowan premium bonus and
(c) Halsey premium bonus.
Comment on of each of the three schemes.
Transcribed Image Text:During the 1st week of April, 1993, the workman Mr. Kate manufactured 300 articles. He received wages for a guaranteed 48 hours week at the rate of $ 4 per hour. The estimated time required to produce one article is 10 minutes and under incentive schemes, the time allowed is increased by 20%. Calculate his gross wages according to: (a) Piece work with guaranteed weekly wage, (b) Rowan premium bonus and (c) Halsey premium bonus. Comment on of each of the three schemes.
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