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
list and explain all the procedures of material control
All transfer-pricing methods give the similar division operating income. Do you agree? Describe.
Cost sheet is a declaration of cost for a product for given period of time.
Gustav Ltd commenced operations on 1 July 2011 and presents its first statement of comprehensive income for the year ending 30 June 2012 and first statement of financial position a
what is the scope of cost accounting?
Cost Estimation Cost estimation may be defined with 'a study that attempts to predict among costs and the activity level or cost driver that causes those costs. In practical
Most corporations pay quarterly dividends on their common stock rather than annual dividends. Barring any unusual circumstances during the year, the board raises, lowers, or mainta
Relationship among Financial Accounting and Cost Accounting The difference among management and cost accounting may be highlighted by using a number of questions namely as;
At the beginning of 2010, Mirror Corporation, had undepreciated capital cost (UCC) of $1,575,000 in asset Class 38 with a CCA rate of 30%. On April 15, 2010, Mirror sold an asset t
Prepare Cash Budget of a Company The given information concerned to the proposed budget for a company for the months ending on 31 December 1996. Additional Information
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