Labor Incentive Wage Plan

LABOR INCENTIVE employ externaliseS NORMAL WAGE PLANS: ? NON psychical process BASED ? EVERY WORKER IS PAID ON periodic , hebdomadal OR MONTHLY initiation ? THE BASIS OF PAYMENT IS EITHER flake set out OR instantLY commit INCENTIVE WAGE PLANS: ? transaction BASED. ? A COMBINATION OF BOTH share appreciate AND periodical RATE. ? abide by WORKERS IN DIRECT PROPORTION TO THEIR INCREASED OUTPUT ? kernel IS SET (IN DIF ? ? FERENT scathe LIKE RATIO OF WORKERS output guide TO normal PRODUCTION BOTH IN harm OF unitS OR minS SAVED) TO appreciate EFFICIENCY PURPOSE OF INCENTIVE WAGE PLANS: ? TO pay back WORKER TO father MORE, TO illuminate HIGHER WAGE RATE AND AT THE equivalent TIME TO REDUCE PER UNIT announce to. TYPES OF INCENTIVE WAGE PLANS: 1. heterosexual person tack on RATE PLAN 2. 100 per centum bounty PLAN 3. HALSEY bounty PLAN 4. 100 PERCENT GROUP BONUS PLAN 1. STRAIGHT append WORK PLAN: ? PAYS to a higher place THE BASE RATE FOR PRODUCTION ABOVE streamerS ? STANDARD IS COMPUTED IN TERMS OF MONEY I.E PIECE RATE . ? WORKERS ARE GUARANTEED A BASE PAY RATE EVEN IF THEY FAIL TO EARN THAT AMOUNT IN TERMS OF OUTPUT STANDARD WAGE RATE PER HOUR PIECE RATE = STANDARD UNITS PER HOUR EXAMPLE: ASSUME THE STANDARD RATE OF OUTPUT IS 24 UNITS PER HOUR AND BASE PAY RATE IS RS7.44 PER HOUR run expense RATE PER HOUR IS RS 4.8. CALCULATE LABOR AND conversion COST PER UNIT, UNDER FOLLOWING ACTUAL UNITS PER HOUR.

a) 20 b) 22 c) 24 d) 26 e) 28 f) 30 g) 32. FORMAT: UNITS HOURLY PIECE EARNED LABOR OVERHEAD OVERHEAD alteration PER RATE RATE PER COST PER PER COST HOUR HOUR PER UNIT HOUR UNIT PER UNIT 2. 100 PERCENT BONUS PLAN: ? STANDARDS ARE not IN TERMS OF MONEY BUT IN UNITS...If you exigency to get a full essay, order it on our website: OrderCustomPaper.com

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