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Calculate the earnings of an employee

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Reference no: EM132963067

Question - The following information relates to an employee for one week:

Hour worked 44

Rate of pay per hour $3.50

Units or output achieved 480

The time allowed for each unit of output is seven standard minutes. For purposes of piecework calculations each minutes is valued at $0.05.

Required - Calculate the earnings of an employee where earning is based on:

(i) Piecework rates with earnings guaranteed at 80% of pay calculated on an hourly basis.

(ii) Premium bonus scheme in which bonus based on 75% of time saved.

Reference no: EM132963067

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