Payment of wages under different schemes. A company is yet to decide as to what kind of wage scheme should be introduced. The following particu- lars have been compiled in respect of three systems, which are under consideration of the management : Workers A B Actual hours worked in a week 38 40 34 Hourly rate of wages 6 5 *7.20 Production in units : Product P 21 60 Product Q 36 135 Product R 46 25 Standard time allowed per unit of each product : P Q R (In minutes) 12 18 30 For the purpose of price rate, each minute is valued at 30.10. You are required to calculate the wages of each worker under : (i) Guaranteed hourly rate basis. Il (ii) Piece work earnings basis, but guaranteed at 75% of basic pay (guaranteed hourly rate) if his earnings are less than 50% of basic pay. (iii) Premium bonus basis where the worker receives bonus based on Rowan Scheme