Calculate Guaranteed Rate of wage from information below Actual time taken by the worker 6 hours Sta...........

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

Calculate Guaranteed Rate of wage from information below:

Actual time taken by the worker: 6 hours

Standard time allowed: 8 hours

Standard rate of wages per hour: 2/-

Standard rate of wages per piece: 5/-

Standard production: 8 units

Rs. 16/-

Rs. 12/-

Rs. 50/-

Rs. 20/-

Guaranteed Rate of wages in nothing but time wages. It is calculated as:

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

In given problem, Guaranteed Rate of wages= 6 x 2 = 12/-

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