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An organisation operates a piecework system of remuneration, but also guarantees its employees 80% of a time-based rate of pay which is based on $20 per hour for an eight hour working day. Three minutes is the standard time allowed per unit of output. Piecework is paid at the rate of $18 per standard hour.
If an employee produces 200 units in eight hours on a particular day, what is the employee’s gross pay for that day?
The standard time for the 200 units produced is 200 x 3/60 = 10 hours. So the piecework pay is 10 x $18 = $180.
This is higher than the guaranteed pay of 8 hours x 80% x $20 = $128 and so they will be paid $180.
Have you watched my free lecture on labour? The lectures are a complete free course for Paper MA and cover everything needed to be able to pass the exam well.
Thanks! all is clear after watching the lecture thanks a lot sir.
Sir i am preparing f2 through self study sir please give some tips i have two questions.
1.what is the key areas of the syllabus
2.what is the diffucult ares of the syllabusThe exam tests all areas of the syllabus. However the Section B questions examine the budgeting, standard costing, and performance measurement sections of the syllabus.
I cannot say which are the most difficult areas – it depends on the individual. Everyone finds different areas to be easier or more difficult.
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