Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A worker takes 13 hours to complete work on daily wages and 8 hours on a scheme of payment by results. The worker's day rate

A worker takes 13 hours to complete work on daily wages and 8 hours on a scheme of payment by results. The worker's day rate is 90 per hour. The cost of material of the product is 300 and the overheads are recovered at 200% of the total wages. The company has an incentive plan of giving bonus for the time saved in a certain job. Bonus is computed as time saved over time allowed to complete the job multiplied by the taken by the worker multiplied by the rate per hour. Ms. Apple completed the job within 8 hours including a 30-minute idle time. How much is the wage of Ms. Apple?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Financial Accounting

Authors: Jerry J. Weygandt, Michael J. Atkins, Donald E. Kieso, Paul D. Kimmel, Valerie Ann Kinnear, Barbara Trenholm, Joan E. Barlow

1st Canadian Edition

1118757149, 978-1118757147

More Books

Students also viewed these Accounting questions