Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Calculate Remuneration of Employee of an Organisation
Based on the data underneath that you are necessary to calculate the remuneration of all employee like determined with each of the specified methods
i. Hourly rate
ii. Basic piece rate
iii. Individual bonus scheme whereas the employee obtains the bonus in proportion of the time saved to time permitted
Name of employee
Salmon
Roala
Pike
Units produced
270
200
220
Time allowed in minutes per unit
10
15
12
Time taken (hours)
40
38
36
Rate per hour (Kshs)
125
105
120
Rater per unit (Kshs)
20
25
24
Solution
40 x 125
38 x 105
16 x 120
= 5000
= 3990
= 4320
ii. Piece rate
Gross wage
270 x 20
200 x 25
220 x 24
Therefore regular wage
= 5,400
= 5,000
= 5,280
iii. Bonus scheme
Time saved
Time allowed
(270x100)/60
(200x15)/60
(220 x12)/60
= 45 hours
= 50 hours
= 44 hours
Time taken
40 hours
37 hours
36 hours
5 hours
12 hours
8 hours
Bonus time = (Time taken/ Time allowed) x total time saved
(40 / 45) * 5
(38 / 50) * 12
(36 / 44)*8
= 4.4
= 9.12
= 6.55
Bonus Pay
4.4x125 = 550
9.12x105 = 958
6.55x120= 786
Total pay
= Gross pay + Bonus
5,000 + 550
3990 +958
4320 + 786
Using hourly rate
= 5550
= 5958
= 6066
1. Why does rent control result in a shortage of rental units. 2. How does price elasticity of demand affect how much of a tax is passed on to the consumer and how much is absor
Vorticella can first be seen by the naked eye, b.ut to study it place a prepared slide under the microscope. Focus it under low power, and observe it. You can see a large number of
Assume that $140,000 of Denham Springs school dostrict 8% bonds are sold on the bond issue date for $128,598 interest is payable semiannually, and the bonds mature in 15 years. The
Good Food Company is a local manufacturer of instant noodles. Established in 2005, their business has been growing steadily. Their products, which are available in 3 flavors, are s
CVP and Computer Applications The broad availability of personal computers encourages more managers to apply cost volume profit analysis. Computers can quickly create the comp
DEFINATION
STANDARD COSTING STANDARD COSTING is a method, which uses standards for costs and revenues for the idea of control by variance analysis. It can be used either through operation
You perform a travel cost study that looks at the relationship between the cost of visiting a lake (including costs of travel, value of time spent not working & any entry fees), it
What is an advantage of using absorption costing? A. It permits a business to calculate the break-even point for production. B. It permits a business to calculate the total c
Your firm is the auditor of Easy Hire Pty Ltd (Easy Hire).the company hires out equipment to industries such as construction, engineering & event management. It has 76 branches nat
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd