Question 3 In a coach building factory a group of ten workers work on a group incentive scheme, and wage rate of each worker is the same which is $ 2.50 per hour. The standard output for a month of 25 days, each day being of 8 hours, is 25 new bus bodies. A bonus of $ 200 is paid to the ground for efficiency above 100%. Between 80% and 99% of efficiency, bonus of $ 150 is paid, and below 80% efficiency hourly rate is guaranteed. During the months of Match, April and May 2018, the actual output had been as under: No.of bus bodies March 15 April 22 May 31 Bonus to the group is shared equally by the workers in the group. You are required to calculate total earnings per worker for March, April and May, 2018 and also the effective rate of earnings per hour per worker. Assume all the workers in a group were present for all the working days given as under : March 25 days April 24 days May 26 days

Question 3 In a coach building factory a group of ten workers work on a group incentive scheme, and wage rate of each worker is the same which is $ 2.50 per hour. The standard output for a month of 25 days, each day being of 8 hours, is 25 new bus bodies. A bonus of $ 200 is paid to the ground for efficiency above 100%. Between 80% and 99% of efficiency, bonus of $ 150 is paid, and below 80% efficiency hourly rate is guaranteed. During the months of Match, April and May 2018, the actual output had been as under: No.of bus bodies March 15 April 22 May 31 Bonus to the group is shared equally by the workers in the group. You are required to calculate total earnings per worker for March, April and May, 2018 and also the effective rate of earnings per hour per worker. Assume all the workers in a group were present for all the working days given as under : March 25 days April 24 days May 26 days

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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