We are here with you hands in hands to facilitate your learning & don't appreciate the idea of copying or replicating solutions. Read More>>
+ Link For Assignments, GDBs & Online Quizzes Solution |
+ Link For Past Papers, Solved MCQs, Short Notes & More |
Dear Students! Share your Assignments / GDBs / Quizzes files as you receive in your LMS, So it can be discussed/solved timely. Add Discussion
How to Add New Discussion in Study Group ? Step By Step Guide Click Here.
Assignment
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
REQUIRED:
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
Tags:
+ How to Follow the New Added Discussions at Your Mail Address?
+ How to Join Subject Study Groups & Get Helping Material? + How to become Top Reputation, Angels, Intellectual, Featured Members & Moderators? + VU Students Reserves The Right to Delete Your Profile, If?.
+ http://bit.ly/vucodes (Link for Assignments, GDBs & Online Quizzes Solution)+ http://bit.ly/papersvu (Link for Past Papers, Solved MCQs, Short Notes & More)
+ Click Here to Search (Looking For something at vustudents.ning.com?) + Click Here To Join (Our facebook study Group)This is answer is ri
Please guys help me,,, I don't understand where to start & where to finish
O bhai koeee hai.. Kisi aur ko bhi ye assignment mili hai k sirf mujhay hi mili hai
Question 1
Mr. X
Wages Rate per Hour Rs. 20
Time allowed for the job 50 hours
Time Taken 55 hours
Total Earning 55 x 20 = 1,100.00
Mr. Y
Wages Rate per Hour Rs. 20
Time allowed for the job 50 hours
Time Taken 40 hours
Total Earning 40 x 20 = 8,00.00
Mr. Z
Wages Rate per Hour Rs. 20
Time allowed for the job 50 hours
Time Taken 15 hours
Total Earning 15 x 20 = 300.00
Question 2
Mr. X
Bonus Rate= Time allowed – Actual Time taken x 100
Time Allowed
= 50-55 x 100
50
Bonus Rate= -10%
Gross Earning
Basic Pay 55 x 20 = 1,100
Bonus Pay 1,100x -10% = -110
990
Effective Rate of Earning = 990 /55 hours = Rs. 18
Mr. Y
Bonus Rate= Time allowed – Actual Time taken x 100
Time Allowed
= 50-40 x 100
50
Bonus Rate= 20%
Gross Earning
Basic Pay 40 x 20 = 800
Bonus Pay 800 x 20% = 160
960
Effective Rate of Earning = 960 /40 hours = Rs. 24
Mr. Z
Bonus Rate= Time allowed – Actual Time taken x 100
Time Allowed
= 50-15 x 100
50
Bonus Rate= 70%
Gross Earning
Basic Pay 15 x 20 = 300
Bonus Pay 300x 70% = 210
510
Effective Rate of Earning = 510 /15 hours = Rs. 34
Any body can guide how to use the time rate .
Nadia aap ne bonus rate ko basic pay se direct multiply ker diya... jab k question main tu ye kaha hai k for 1st 10% saving in time ho agar tu 20% of time saved bonus dena hai yani 10% saving in time is 50 x 10/100 = 5 hours jis ki amount bani 5 x 20 = Rs. 100 phir is ka 20% bonus dena hai jo k Rs. 20 aata hai aur per unit bonus 20/5 = Rs. 4 hai.
Aur phir isi tarah 30% saving in time
15 hours @ Rs. 20 = Rs. 300 x 40% = Rs. 120 Bonus Amount
Bounus Amount per Hour = 120/15= Rs. 8
Aur phir isi tarah 20% saving in time
10 hours @ Rs. 20 = Rs. 200 x 30% = Rs. 60 Bonus Amount
Bounus Amount per Hour = 60/10= Rs. 6
Aur finally isi tarah Balance 40% saving in time
20 hours @ Rs. 20 = Rs. 400 x 5% = Rs. 20 Bonus Amount
Bounus Amount per Hour = 20/20= Re. 1
can you please upload the final solution so i can tally with mine and do the changes
final solution meray mutabiq jo banta hai wo page # 1 per Jpeg format main , main ne upload ker diya hai.. Lakin mujhay bhi believe nahein k whether is it correct or not
Question 3
It attributes the job losses to employers increasing prices to deal with the higher wages , which would lower demand and therefore their need more workers as well as to some employers substituting machines or technology for workers due to the higher cost of wages .
But business may respond to a higher and policy research, john Schmitt argues that they can benefit from improved efficiency and lower turnover a higher wages may lead employers to push ,the majority to work harder ,which can be preferable to cutting hours or workers . in fact ,the majority of fast food restaurants in Georgia and Alabama said they would respond to a minimum wages increase with higher performance standards .
According to my knowledge my solution is as follow
Total earning of MR X
Working completion hours Mr. X is = 55
But fixed for job only 50hours @ 20
So he will be paid 50x20 = Rs.1000
Total earning of MR Y
Working hours(40) wages 40x20 = 800
His Working hours 40 out of 50hours
Saving in time 10hr out of 50hr so, = 50x40/100= 20% saving of time
First 10% saving hours = 5x04 = Rs.20
For next 10% saving hours = 5x08 = Rs.40
Rs.60
Wages for working hours= 800
Add bonus of Rs. = 60
Total earning of Mr Y = 860
Total earning of MR Z
wages 15hoursx20 = 300
His Working hours 15 out of 50hours
Saving in time 35hr out of 50hr so, = 35x100/50= 70% saving of time
First 10% saving hours = 5x04 = Rs.20
For next 30% saving hours = 15x08 = Rs.120
For next 20% saving hours = 10x06 = Rs.60
For balance (10%)out of 70%=5x01= Rs. 05
Bonus Rs.205
Wages for working hours= 300
Add bonus of Rs. = 205
Total earning of Mr Z = 505
Asif bhai Mr. X ki earning 55 hours x 20 = Rs. 1100 banti hai, lakin aap ne 50 x 20 = Rs. 1000 li hai,,, ye point zara clear karain plz.. aap ne 55 hours ki bajaye 50 hour q liye Mr. X k liye... Please clear and guide me
© 2019 Created by + M.Tariq Malik.
Powered by
Promote Us | Report an Issue | Privacy Policy | Terms of Service
VU Students reserves the right to delete profile, which does not show any Activity at site nor has not activity more than 01 month.
We are user-generated contents site. All product, videos, pictures & others contents on vustudents.ning.com don't seem to be beneath our Copyrights & belong to their respected owners & freely available on public domains. We believe in Our Policy & do according to them. If Any content is offensive in your Copyrights then please email at m.tariqmalik@gmail.com or Contact us at contact Page with copyright detail & We will happy to remove it immediately.
Management: Admins ::: Moderators
Awards Badges List | Moderators Group
All Members | Featured Members | Top Reputation Members | Angels Members | Intellectual Members | Criteria for Selection
Become a Team Member | Safety Guidelines for New | Site FAQ & Rules | Safety Matters | Online Safety | Rules For Blog Post