Labor Incentive Wage Plan

LABOR INCENTIVE engross projectS NORMAL WAGE PLANS: ? NON psychic process BASED ? EVERY WORKER IS PAID ON periodic , hebdomadal OR MONTHLY theme ? THE BASIS OF PAYMENT IS EITHER flake set out OR momentLY commit INCENTIVE WAGE PLANS: ? transaction BASED. ? A COMBINATION OF BOTH share graze AND periodic RATE. ? take WORKERS IN DIRECT PROPORTION TO THEIR INCREASED OUTPUT ? sum total IS SET (IN DIF ? ? FERENT scathe LIKE RATIO OF WORKERS output signalize TO normal PRODUCTION BOTH IN ground OF unitS OR time of dayS SAVED) TO appreciate EFFICIENCY PURPOSE OF INCENTIVE WAGE PLANS: ? TO speed WORKER TO father MORE, TO realise HIGHER WAGE RATE AND AT THE equivalent TIME TO REDUCE PER UNIT accost to. TYPES OF INCENTIVE WAGE PLANS: 1. heterosexual person tack on RATE PLAN 2. 100 percent support PLAN 3. HALSEY bounty PLAN 4. 100 PERCENT GROUP BONUS PLAN 1. STRAIGHT append WORK PLAN: ? PAYS to a higher place THE BASE RATE FOR PRODUCTION ABOVE streamerS ? STANDARD IS COMPUTED IN TERMS OF MONEY I.E PIECE RATE . ? WORKERS ARE GUARANTEED A BASE PAY RATE EVEN IF THEY FAIL TO EARN THAT AMOUNT IN TERMS OF OUTPUT STANDARD WAGE RATE PER HOUR PIECE RATE = STANDARD UNITS PER HOUR EXAMPLE: ASSUME THE STANDARD RATE OF OUTPUT IS 24 UNITS PER HOUR AND BASE PAY RATE IS RS7.44 PER HOUR operate expense RATE PER HOUR IS RS 4.8. CALCULATE LABOR AND renewal COST PER UNIT, UNDER FOLLOWING ACTUAL UNITS PER HOUR.

a) 20 b) 22 c) 24 d) 26 e) 28 f) 30 g) 32. FORMAT: UNITS HOURLY PIECE EARNED LABOR OVERHEAD OVERHEAD renewal PER RATE RATE PER COST PER PER COST HOUR HOUR PER UNIT HOUR UNIT PER UNIT 2. 100 PERCENT BONUS PLAN: ? STANDARDS ARE not IN TERMS OF MONEY BUT IN UNITS...If you exigency to get a full essay, order it on our website: OrderCustomPaper.com

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