In a manufacturing concern, the bonus to workers is paid on a slab rate based on cost
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In a manufacturing concern, the bonus to workers is paid on a slab rate based on cost savings towards labour and overheads. The following are the slab rates:
The wages rate per hour of 4 workers – P, Q, R and S are, respectively, Re. 1; Rs. 1.10; Rs. 1.20; and Rs. 1.40. Overheads are recovered on direct wages at the rate of 200%
standard cost under wages and overheads per unit of production is fi xed at Rs. 30. The workers have completed one unit each in 8, 7, 5½ and 5 hours, respectively. Calculate in respect of each worker:
(i) The amount of bonus earned
(ii) Total earnings
(iii) Total earnings per hour
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