# Formulas: Maximum Level Maximum stock level = Re-order level + Re-ordering quantity

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Material Costing Questions

 Labor Costing  Question 1  The existing incentive system of a certain factory is:  Normal working week 5 days of 9 hours plus 3 late shifts of 3 hours each  Rate of payment Day work = Tshs10.00 per hour  Late shift = `15.00 per hour  Additional bonus payable Tshs25.00 per day shift Tshs15.00 per late shift  Average output per operative for 54 hours week i.e., including 3 late shifts 120 articles  In order to increase output and eliminate overtime it was decided to switch on to a system of  payment by results. The following information is obtained:  Time rate (as usual) Tshs10.00 per hour  Basic time allowed for 15 articles 5 hours  Piece-work rate Add: 20% to piece  Premium Add: 50% to time  You are required to show:  (i) hours worked;  (ii) weekly earnings;  (iii) number of articles produced; and  (iv) labour cost per article for one operative under the following systems:  (a) Existing time rate.  (b) Straight piece-work.  (c) Rowan system.  (d) Halsey-Weir.  Assume that 135 articles are produced in a 45-hour week under (b), (c) and (d) and that the  worker earns half the time saved under the Halsey-Weir System. The additional bonus under  the existing system will be discontinued in the proposed incentive scheme.  Question 2  In a factory guaranteed wages at the rate of Tshs18.00 per hour are paid in a 48-hour week.  By time and motion study it is estimated that to manufacture one unit of a particular product  20 minutes are taken. The time allowed is increased by 25%. During one week Abraham  produced 180 units of the product. Calculate his wages under each of the following methods:  (a) Time rate, (b) Piece-rate with a guaranteed weekly wage, (c)Halsey premium bonus and  (d) Rowan premium bonus.  Question 3  A worker under the Halsey Plan of remuneration has a day rate of Tshs1,200 per week of 48  hours, plus a cost of living bonus of Tshs10 per hour worked. He is given an 8-hour task to  perform, which he accomplishes in 6hours. He is allowed 30% of the time saved as premium  bonus. What would be his total hourly rate of earnings, and what difference would it make if  he were paid under the Rowan Plan?  Question 4  Calculate total monthly remuneration of three workers X, Y and Z from the following data:  (a) Standard production per month per worker - 1,000 units.  Actual production during the month  X - 850 units, Y - 750 units and Z - 950 units.  (b) Piece work rate Tshs1.00 per unit (actual production).  (c) Additional production bonus is Tshs50 for each percentage of actual production exceeding  80% over standard (e.g., 79% nil, 80% nil, 81% - `50, 82% - `100 and so on).  (d) Dearness pay fixed `200 per month  Yüklə 141,3 Kb.Dostları ilə paylaş:
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