INFORMATION Standard time allowed 10 minutes per unit Standard work day 8 hours Normal wage rate R120 per hour Premium 110% of piecework rate if standard or above standard; 90% of piecework rate if below standard Mary's production for the day 50 units

INFORMATION Standard time allowed 10 minutes per unit Standard work day 8 hours Normal wage rate R120 per hour Premium 110% of piecework rate if standard or above standard; 90% of piecework rate if below standard Mary's production for the day 50 units

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Calculate the remuneration of Mary for the day using Taylor's differential piecework system from the following information.

INFORMATION
Standard time allowed
10 minutes per unit
Standard work day
8 hours
Normal wage rate
R120 per hour
Premium
110% of piecework rate if standard or above standard;
90% of piecework rate if below standard
Mary's production for the day
50 units

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