In a manufacturing concern, employees are paid incentive bonus in addition to their normal wages at hourly rates. Incentive bonus is calculated in the proportion of time saved to time allowed. The following are the details of employee X
|
Normal wages (rupees per hour) |
4 |
|
|
Completed units of production |
6,000 |
|
|
Time allowed (per 100 units) |
0.8 hour |
|
|
Actual time taken |
42 hours |
You are required to work out the amount of bonus earned and the total amount of wages received.