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Given that for a job standard time is 8 hrs, actual time taken is 6 hrs and the time rate is Rs 2 per hr What is the total wages under Halsey premium plan?
Answer & Solution
Correct Answer:
Option
B
Standard Time: 8 hrs
Rate per Hour: Rs 2
Case (1): Time Taken = 8 hrs
Earnings = 8 x 2 = Rs 16
Case (2): Time Taken = 10 hrs
Earnings = 10 x 2 = Rs 20
Case (3): Time Taken= 6 hrs
Earnings:
Time wages = 6x 2 = Rs 12
Bonus = ½ x 2 x 2 = Rs Rs 2
Thus, the worker’s total earnings are Rs 14 (time wages +bonus), if he has completed the work in 6 hrs, less than the standard time.
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LoginEarnings=Hours Worked x Rate per hour + (50% of the time saved) x Rate per hour
Which here is, 6X2+(50% of 2)X2
=12 + 1 X 2 .. which goes.. 12 + 2 = 14
(6×2)+(8-6)×2 = Rs.14