QUESTION THREE Rate per Individual hours worked A factory manufactures three components A, B and C: During week 26, the following was recorded: Labour Number of Grade Employees hour K 6 40.00 18 32.00 4 28.00 IV 1 16.00 40 42 40 44 ==| Output and standard times during the same week were: Standard Minutes Component Output (each) 444 30 B 900 54 480 66 The normal working week is 38 hours, overtime is paid at a premium of 50% of the normal hourly rate A group incentive scheme is in operation. The time is expressed as a percentage of hours worked and is shared between the group as a proportion of the hours worked by each grade, The rate paid is 75% of the normal hourly rate. Required Calculate the total payroll showing the basic pay, overtime premium and bonus pay as (25 Marks) separate totals for each grade of labour