Standard time for a job is 8
hours and actual time taken is
6 hours. What is the total
wages payable under Halsey
plon if wage rate is Rs. 10 per
hour
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Given : Standard time for a job is 8 hours and actual time taken is 6 hours.
wage rate is Rs. 10 per hour
To Find : What is the total wages payable under Halsey plan
Solution:
Halsey premium plan = Normal wages + premium
Halsey premium plan = Time worked x wages rate + (1/2)(time saved) * wages Rate
Time worked = 6 hrs
Time saved = 8 - 6 = 2 hrs
Wage rate = Rs 10 per hour
total wages payable = 6 x 10 + (1/2)*2 * 10
= 60 + 10
= 70
total wages payable = Rs 70
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