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Hibco & Partners, a Quebec-based public accounting partnership, specializes in audit services. Its job-costing system has a single direct-cost category (professional labor) and a single indirect-cost pool (audit support, which contains all costs of the Audit Support Department). Audit support costs are allocated to individual jobs using actual professional labor-hours. Hibco & Partners employs 3 professionals to perform audit services. Management of the company has provided different categories of bonus. It can fixed different level of bonus according to minimum time utilization on job.
The standard time for the completion of a certain job is fixed at 50 hours. Normal wages are paid to the workers according to time rate, which is Rs.20 per hour. The plan of payment of bonus is as under:
For 1st 10% saving in time 20% of time saved
For next 30% saving in time 40% of time saved
For next 20% saving in time 30% of time saved
For balance 5% of time saved
1. Compute total earning of Mr. X, Mr. Y and Mr. Z.
2. Mr.X worked 55 hours, Mr.Y worked 40 hours and last Mr. Z worked For 15 hours of professional labor time. Compute the per hour earning of each of professional using bonus rate by segregating them into categories. Explain who worked more efficiently.
3. Why the total earning of employee’s job decrease while an employees worked more efficiently than others (completed task in minimum time).
Note: Provide necessary computations to support your solution

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Replies to This Discussion

Friends, can anybody guide that how to download the article for this assignment.

dear it is the article of this assignment


Luckey Moon Bhai, thanks for showing concern but please be careful in guiding others. This is not the article because this was the format of previous semester's assignment-1. 

Any how, now the problem is solved by the instructor bcz this part is not related to us and it is to be ignored as it has been announced in announcement section.

Best of luck.

dear shakeel bhai please, help us its very confusing assignment

dear all please discuss fastly assignment points so we will be able to reach the correct solution.

I confused in assignment please hlp me in 1st and 2nd question & jo solution file lms pr aie usa kasy solve krna h ???????????????? i need help......... 

Important Announcement for Assignment No. 1 Dated: Nov 27, 14

Due Date: 4th December,2014

Dear Students,

An announcement under the title of “Article for Assignment No. 1 in the Downloads Section” followed by a series of questions is not for you. Kindly ignore it and consider only the first part (original assignment for you to solve) which is reproduced here for your convenience

assignment ka 2nd portion solve nae krna hai mistake sy unho ny assignment file mein daal dia hai...

Please Discuss here about this assignment.Thanks

Our main purpose here discussion not just Solution

We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions.

Can you please help as i donot understand.

waisay ye assignment hai kis lecture se???

Adeel bhai, assignment to lec 12 onward mn sey hey.

thnx shakeel bhai


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