Question
Exercise Labor Given below is information about the remuneration of three different employees for the month of May. A paid on an hourly basis at
Exercise Labor
Given below is information about the remuneration of three different employees for the month of May.
A paid on an hourly basis at a rate of $5.80 per hour. Overtime is paid for any hours over and above 160 in a month at a premium of 40% of the basic rate. During the month A worked for 184 hours.
B paid on a piece rate basis for the number of units produced. The rates are $1.40 per unit for the first 1,000 units in a month, $1.90 for the next 500 units and $2.30 for any units over 1,500. In the month B produced 1,640 units.
C paid on an hourly basis at a rate of $6.70 per hour. He is also eligible for a monthly bonus based upon the time saved on manufacture of products compared to the standard time for manufacturing those products. This time saving is split equally between the employer and the employees. During the month C produced 200 units, spending an average time of 1.5 hours on each unit compared to the standard time of 1.8 hours. The bonus that he earns is based upon his normalhourly rate of pay.
Required:
Calculate the gross wage for each of the employees.
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