Under which method of wage payment the wages are paid to the worker according to the time spent by t...........

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

Under which method of wage payment, the wages are paid to the worker according to the time spent by the worker irrespective of quantum of production?

Time Wage system

Piece Wage system

Taylor’s Differential Piece Wage System

None of the above

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 hour

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