(Answered) Calculating the remuneration

Accounting

Problem: Based on the data below you are required to calculate the remuneration of each employee as determined by each of the following methods

Hourly rate

Basic piece rate

Individual bonus scheme where the employee receives the bonus in proportion of the time saved to time allowed

Name of employee	Salmon	Roala	Pike
Units produced	270	200	220
Time allowed in minutes per unit	10	15	12
Time taken (hours)	40	38	36
Rate per hour (Kshs)	125	105	120
Rater per unit (Kshs)	20	25	24

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Financial Accounting, Accounting

Category:- Financial Accounting
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