In Star Engineering Works, the standards time for a job is 16 hours and the basic...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
In Star Engineering Works, the standards time for a job is 16 hours and the basic wage is Re 1 per hour. A bonus scheme is instituted so that a worker is to receive his normal rate for hours actually worked and 50% for the hours saved. Materials for the job cost Rs. 20 and overheads are charged on a basis of Rs. 2 per labour hour. Calculate the wages and effective rate of earning per hour if the job is completed: (i) in 12 hours and (ii) in 14 hours. Also ascertain the factory cost of the job on the same basis. In Star Engineering Works, the standards time for a job is 16 hours and the basic wage is Re 1 per hour. A bonus scheme is instituted so that a worker is to receive his normal rate for hours actually worked and 50% for the hours saved. Materials for the job cost Rs. 20 and overheads are charged on a basis of Rs. 2 per labour hour. Calculate the wages and effective rate of earning per hour if the job is completed: (i) in 12 hours and (ii) in 14 hours. Also ascertain the factory cost of the job on the same basis.
Expert Answer:
Answer rating: 100% (QA)
Lets start by calculating the total wages for the job based on the bonus scheme Total hours saved st... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
Davis Company opened a Web page design business on January 1 of the current year. The following information relates to Davis Companys operations during the current year: 1. On February 1, Davis...
-
Graph the curve x = y - 3y3 + y5.
-
Consider a logical address space of eight pages of 1024 words each, mapped onto a physical memory of 32 frames. a. How many bits are there in the logical address? b. How many bits are there in the...
-
Refer to the data given for the Sky Company in Problem P12-4A. Required a. Calculate the change in cash that occurred in 2019. b. Prepare a statement of cash flows using the direct method. Use one...
-
Your next task is to consider how marketing research can help Sonic support its marketing strategy. Jane Melody also asks you how Sonic can measure results after the marketing plan is implemented....
-
Companies A and B have been offered the following rates per annum on a $ 2 0 million five - year loan: Company A Company B Fixed rate 5 . 0 % 6 . 4 % Floating rate SOFR + 0 . 1 % SOFR + 0 . 6 %...
-
Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $110,000 and Keon transferred an acre of undeveloped land to...
-
Use the Aggregate supply and Aggregate Demand Model below to answer the questions that follow. Aggregate Supply and Aggregate Demand Model ASS Price CPI 210 E2 175 Es ADD2 E. ADD 150 ADD, | ADD,...
-
Suppose that the three-month forward rate on the euro is \($1.43\) but you think that the spot price in three months will be \($1.39\). Using only the forward market, what actions you should take and...
-
What is DML?
-
Suppose that the three-month interest rate in Australia is 2 percent and it equals 4 percent in the United States. Suppose further that the three-month forward rate on the Australian dollar (A$) is...
-
Why are Leontiefs findings called a paradox?
-
Suppose that the current price of one British pound is $1.59 and three-month interest rates in both the United Kingdom and the United States is equal to 3 percent. If uncovered interest rate parity...
-
Case Amount of annuity Interest rate Period (years) 7% 3 ABCDE 22,500 $12,000 55,000 700 140,000 12 2250 15 7 10 915 a. Calculate the present value of the annuity, assuming that it is (1) An ordinary...
-
Which of the ocean zones shown would be home to each of the following organisms: lobster, coral, mussel, porpoise, and dragonfish? For those organisms you identify as living in the pelagic...
-
Some companies inflate the discount rate used in the net present value method to compensate for risk associated with the capital expenditure project. This approach is unsound. Explain why and suggest...
-
Withers Company uses a standard process costing system in its one production department. Material A is added at the beginning of the process, and Material B is added when the units are 90% complete....
-
Jamestown Company is preparing a cash budget for July. The following estimates were made: (a) Expected cash balance, July 1, $5,000. (b) Income tax rate is 40%, based on accounting income for the...
-
A short connecting pipe between two tanks is clogged with a plug of \(\mathrm{NaCl}\) crystals. The plug formed as a cylinder of circular cross-sectional area with a constant diameter \(D=2.0...
-
An organization with a mission to build is in rapid expansion and growth. An organization with a mission to harvest is in a mature market. Assuming compensation is based on each of the factors listed...
-
Repeat Example \(15-7\) except with a forced flow with a velocity of \(1.05 \mathrm{~cm} / \mathrm{s}\) past the sphere. Use Eq. (15-60b) to determine \(\mathrm{k}_{\mathrm{c}}\). The viscosity of...
Study smarter with the SolutionInn App