A company is operating 50-50 Halsay premium plan. Compute the total wages of the worker per hour working in the factory based on the following information:-                Time rate = ksh 60/hr. Time allowed standard = 100hrs. Time taken = 75 hrs                                                                              (b) If a worker is employed for the manufacture of consumable items at a piece rate of ksh150 and has to prepare 50 items in 8 hours of work, but he prepared 55 items in 8 hours. Calculate his total daily earnings by piece rate system. Also calculate extra earnings

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

 A company is operating 50-50 Halsay premium plan. Compute the total wages of the worker per hour working in the factory based on the following information:-

               Time rate = ksh 60/hr. Time allowed standard = 100hrs. Time taken = 75 hrs                                                                     

        (b) If a worker is employed for the manufacture of consumable items at a piece rate of ksh150 and has to prepare 50 items in 8 hours of work, but he prepared 55 items in 8 hours. Calculate his total daily earnings by piece rate system. Also calculate extra earnings       

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Wages and Salaries computation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education