One of the employees of Gokul Dairy, Vishnu Jagannath works for 38 hours in a week, and is paid on an 80 percent gain-sharing plan, where bonus earnings begin at standard. The base wage for the job Vishnu performs is $8.00 per hour, and the standard is 62 units per hour. i) Calculate the weekly (40 hours) pay for Vishnu if he works at standard, and calculate the labour cost per unit for the company. ii) Calculate the weekly pay for Vishnu when he produces 2750 units in the 40 hours.
One of the employees of Gokul Dairy, Vishnu Jagannath works for 38 hours in a week, and is paid on an 80 percent gain-sharing plan, where bonus earnings begin at standard. The base wage for the job Vishnu performs is $8.00 per hour, and the standard is 62 units per hour. i) Calculate the weekly (40 hours) pay for Vishnu if he works at standard, and calculate the labour cost per unit for the company. ii) Calculate the weekly pay for Vishnu when he produces 2750 units in the 40 hours.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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One of the employees of Gokul Dairy, Vishnu Jagannath works for 38 hours in a week, and is paid on an 80 percent gain-sharing plan, where bonus earnings begin at standard. The base wage for the job Vishnu performs is $8.00 per hour, and the standard is 62 units per hour.
i) Calculate the weekly (40 hours) pay for Vishnu if he works at standard, and calculate the labour cost per unit for the company.
ii) Calculate the weekly pay for Vishnu when he produces 2750 units in the 40 hours.
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