AThe management of a company wants to formulate an incentive plan for the workers with a view to increase productivity. The following particulars have been extracted from the books of company.
Piece Wage rate
₹10
Weekly working hours
40
Hourly wages rate
*40 (guaranteed)
Standard/normal time
per unit 15 minutes
Actual output for a week:
Worker A
176 pieces
Worker B
140 pieces
Differential piece rate: 80% of piece rate when output below normal and 120% of piece rate when output above normal.
Under Halsey scheme, worker gets a bonus equal to 50% of Wages of time saved. Calculate earning of workers under Halsey's, Rowan's premium scheme and Taylor's Differential Piece Rate.
AThe management of a company wants to formulate an incentive plan for the workers with a view to increase productivity. The following particulars have been extracted from the books of company.
Piece Wage rate
₹10
Weekly working hours
40
Hourly wages rate
*40 (guaranteed)
Standard/normal time
per unit 15 minutes
Actual output for a week:
Worker A
176 pieces
Worker B
140 pieces
Differential piece rate: 80% of piece rate when output below normal and 120% of piece rate when output above normal.
Under Halsey scheme, worker gets a bonus equal to 50% of Wages of time saved. Calculate earning of workers under Halsey's, Rowan's premium scheme and Taylor's Differential Piece Rate.