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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?
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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