Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Calculate Remuneration of Employee of an Organisation
Based on the data underneath that you are necessary to calculate the remuneration of all employee like determined with each of the specified methods
i. Hourly rate
ii. Basic piece rate
iii. Individual bonus scheme whereas the employee obtains the bonus in proportion of the time saved to time permitted
Name of employee
Salmon
Roala
Pike
Units produced
270
200
220
Time allowed in minutes per unit
10
15
12
Time taken (hours)
40
38
36
Rate per hour (Kshs)
125
105
120
Rater per unit (Kshs)
20
25
24
Solution
40 x 125
38 x 105
16 x 120
= 5000
= 3990
= 4320
ii. Piece rate
Gross wage
270 x 20
200 x 25
220 x 24
Therefore regular wage
= 5,400
= 5,000
= 5,280
iii. Bonus scheme
Time saved
Time allowed
(270x100)/60
(200x15)/60
(220 x12)/60
= 45 hours
= 50 hours
= 44 hours
Time taken
40 hours
37 hours
36 hours
5 hours
12 hours
8 hours
Bonus time = (Time taken/ Time allowed) x total time saved
(40 / 45) * 5
(38 / 50) * 12
(36 / 44)*8
= 4.4
= 9.12
= 6.55
Bonus Pay
4.4x125 = 550
9.12x105 = 958
6.55x120= 786
Total pay
= Gross pay + Bonus
5,000 + 550
3990 +958
4320 + 786
Using hourly rate
= 5550
= 5958
= 6066
Which of the four types of costs would include a CEO's salary? A. Unit-Level B. Batch-Level C. Product Sustaining D. Facility Sustaining
Ass ume that during April, the job cost sheet for Job 206 showed the following: Dept. A Dept. B M
Business Management Business Management includes planning and staffing, organizing, directing and controlling an organization's activities so like to meet a specified objectiv
(a) (i) Conversion Value Conversion Value = Conversion Ratio * Stock Price = 22*$40 = $880 (ii) Market Conversion Price Market Conversion Price =
value of which items are required to be put in a simple format of manufacturing a/c.
CONTRIBUTION : It is the variation between the marginal cost of sales and sales and it contributes towards fixed profit and expenses. It is differ from the profit which is the net
Requirement for additional Funds A business would require additional capital for two purposes: 1. Financing additional fixed assets, and
Describe Operating Costing The Chartered Institute of Management Accountants, London defines "operating cost" as "the cost of providing a service." Services performed may be in
contract account formate
STANDARD COSTING STANDARD COSTING is a method, which uses standards for costs and revenues for the idea of control by variance analysis. It can be used either through operation
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd