Q a : from thies

Q2. Assume that you have started a business in Ibri. As you know labor cost is one of the major component of costs of a product or service. There are different methods followed to determine the labour cost in order to find total cost of a product or service, even to satisfy employees of a business. Required: Write a report as per the instructions given below: a) Select any three bonus plan suitable for your business and explain briefly about them with suitable examples. (4.5 Marks) b) Why do you think these plans are suitable for your business? Justify your answer with the supporting arguments. (3) Marks) C) Bonus System (or) Incentive Schemes 1. Halsey Premium Plan 2. Halsey Weir plan 3. Rowan Bonus Plan 4. Emerson's Efficiency Plan 5. Barth Variable sharing plan 6. Bedaux point premium system, 7. Accelerating premium bonus plan