A skilled worker in XYZ Ltd. is paid a guaranteed wage rate of Rs. 30 per hour.
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A skilled worker in XYZ Ltd. is paid a guaranteed wage rate of Rs. 30 per hour. The standard time per unit for a particular product is 4 hours. P, a machineman, has been paid wages under the Rowan Incentive Plan and he had earned an effective hourly rate of Rs. 37.50 on the manufacture of that particular product.
What could have been his total earnings and effective hourly rate, had he been put on Halsey Incentive Scheme (50%)?
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