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Calculate wages under Straight Piece Rate Method, Normal Time Rate= ₹ 60 per hour, Standard Production = 5 units per hour, In a 6 hour a day, Mihir produces 50 units., , • Calculate piece rate first, • 1 hour=5 units= ₹ 60, • Therefore for 1 unit= 60/5= ₹ 12, • Earnings= No. of units * Rate per unit, = 50 * 12= ₹ 600, , STRAIGHT PIECE, RATE METHOD

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TAYLOR DIFFERENTIAL PIECE RATE, • Standard Time per piece =12 minutes, • Normal Rate per hour (8 hours a day)=₹ 60, • Ramesh produced 30 units., • Calculate wages under Taylor Differential Piece Rate System.

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SOLUTION, • Calculate Standard output for 8 hours, • One unit takes 12 minutes, • In one hour 60 minutes /12 minutes =5 units in one hour, • In 8 hours= 5*8= 40 units in a day

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SOLUTION, • Calculate Normal Piece Rate per unit, • Normal rate per hour= ₹60, • In one hour 5 units can be produced, • Therefore, Standard piece rate= 60/5=₹ 12

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SOLUTION, • Calculate Earnings, • Under Taylor plan, Earnings when output is lower than standard= 80% of Piece Rate* actual output, , = 80% * ₹ 12* 30 units, =₹ 288

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TIME RATE METHOD, • Standard Time 30 hours, • Time taken 20 hours, • Hourly Rate of Wage ₹ 25 per hour plus Dearness Allowance ₹ 5 per hour, worked., , • Calculate earnings on Time Rate Method

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SOLUTION, •, , Basic Earnings = Hours worked * Time Rate, =20 hours * ₹ 25, = ₹ 500, , Dearness Allowance = Hours Worked * DA Rate, = 20 hours * ₹ 5, = ₹ 100, , Total EARNINGS = 500+100= ₹ 600

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SOLVE ON YOUR OWN, • Calculate Earnings of Madhav on Time Rate Method., • Normal Wage Rate= ₹ 20 per hour, • Dearness Allowance =₹ 2 per hour, • Standard Hours= 80 Hours, • Actual Hours= 50 Hours