Question

1.
A worker takes 9 hours to complete a job on daily wages and 6 hours on a scheme of
payment by results. His day rate is 75 paise an hour, the material cost of the product is
34 and the overheads are recorded at 150% of the total direct wages. Calculate the factory
cost of the product under: (a) Piece Work Plan. (b) Rowan Plan. (c) Halsey Plan.

Answer 1

Answer:

Direct wages Piece Rate

7.50*6 45 Halsey

Normal wages 45 Bonus

(1/2)*3*7.50=11.25 56.25

Rowan Normal wages 45 Bonus

(TS/TA)*NW= (3/9)*45=15 60 Computation

Explanation:

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Answer 2

(a) Piece Work Plan =2.25

(b) Rowan Plan  = 2.00

(c) Halsey plan  = 1.88

Given:

• The worker takes 9 hours to complete job on daily wages and 6 hours on a scheme of pay by results is day rate is 75 paise in hr, the material cost of the product is34 and the overheads are recorded at 150% of the total direct wage.

To Find :

Factory

Solution:

Computation off factory cost under three systems:

                                  Time rate system       Halsey plan       Rowan Plan

Material                                 4.00                       4.00                       4.00

Labour{Working notes}       2.25                       1.88                        2.00

Overheads                           3.38                        2.82                       3.00

Factory Cost                        9.63                         8.70                      9.00

Working Notes:

Time rate system :

Piece Work Plan :

9 x 0.25

=2.25

Halsey plan:

6 x 0.25 + 1/2 (9-6) x 0.25

= 1.88

Rowan Plan:

6 x 0.25 + 1/2 (9-6) x 6 x 0.25

= 2.00

Hence, the answers are :

(a) Piece Work Plan =2.25

(b) Rowan Plan  = 2.00

(c) Halsey plan  = 1.88

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