A workman takes 50 hours to complete a job on daily wages and 40 hou cheme of payment by results. His wage rate is 0.75 paise per hour. TH I cost of the product is Rs. 40 and the factory overheads are recovered i total direct wagės. Calculate the factory cost for the product under a) TH ork plan, b) Hallsay plan, and c) Rowan plan.
A workman takes 50 hours to complete a job on daily wages and 40 hou cheme of payment by results. His wage rate is 0.75 paise per hour. TH I cost of the product is Rs. 40 and the factory overheads are recovered i total direct wagės. Calculate the factory cost for the product under a) TH ork plan, b) Hallsay plan, and c) Rowan plan.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:3 A workman takes 50 hours to complete a job on daily wages and 40 hours
on a scheme of payment by results. His wage rate is 0.75 paise per hour. The
material cost of the product is Rs. 40 and the factory overheads are recovered at
150% of total direct wagės. Calculate the factory cost for the product under a) The
piece work plan, b) Hallsay plan, and c) Rowan plan.
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