Calculate the wages of the worker according to Time Wage System from info below Actual time taken by...........

Costing - Phase (I & II) Basics of Cost Control and Analysis

Calculate the wages of the worker according to Time Wage System from info below:

Actual time taken by the worker: 6 hours

Standard time allowed: 8 hours

Actual production by the worker: 10 units

Standard rate of wages per hour: 2/-

Standard rate of wages per piece: 5/-

Rs. 16/-

Rs. 12/-

Rs. 50/-

Rs. 20/-

Time wage system: Wages are paid on the basis of time spent by the worker irrespective of quantum of production.

Wages= Actual Time Taken (Hours) x Standard Rate of Wages per

In given problem, time wages = 6 x 2 = 12/-

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