Nsubunga, Isabirye and Abaho have been employees of Mukwano manufacturing company ltd. It has been the company?s policy to remunerate its employees on a time basis. The production manager is however considering introducing an alternative strategy of remuneration to enable the achievement of the company objectives. The following information relates to the month of June 2018
Employee
Time worked
Rate pay per hour ($)
Units of output produced
Nsubunga
2,640 minutes
3,500
480
Isabirye
2,400 minutes
4,500
390
Abaho
3,000 minutes
3,800
400
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The time allowed for each unit of output is 8 standard minutes.
Required
Determine the amount of wages payable to each employee if the company maintains the existing scheme
The production manager proposed a premium bonus scheme where an employee is remunerated on an hourly basis plus bonus computed at a rate of 80% of the time saved. Determine the earnings of each employee.
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As this is a topic that is above the level that we at Ask & Answer can provide help with, I would encourage you to check with your teacher/professor for additional help. We encourage you to come back if you need any help in the areas that we can assist in.
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