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The firm employs five workers at an hourly rate of R 2. During the week they worked for four days for a total period of 40 hours each and completed a job for which the standard time was 48 hours for each worker. Calculate the labour cost under the ‘Halsey Method’ and ‘Rowan Method’ of incentive plan payments. |
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Answer» Under Hasley method: 440under Rowen method: 467Explanation:Hasley Method = (Hourly RATE x Time TAKEN) + (50 % x Time Saved x Hourly rate) = (10 x 40) + (0.5 x 8 x 10) = 440Rowan Method = (Hourly rate x Time taken) + (Time Saved x Time Taken)/ Time ALLOWED x Hourly Rate= (10 x 40) + (8 x 40) /48X 10=467 |
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