XYZ Ltd. has introduced a Scanlon plan of incentive bonus for its employees from the year 2006 07. The relevant information for three previous years is as follows.
|
Year |
Sales Revenue Rs. |
Total Salaries and Wages Rs |
|
2003 04 |
2, 40, 000 |
72, 000 |
|
2004 05 |
2, 50, 000 |
70, 000 |
|
2005 06 |
2, 70, 000 |
86, 400 |
For the year 2006 07, the sales revenue has been Rs.3, 25, 000 and the total salaries and wages paid Rs.90, 000. What is the amount due to employees under Scanlon Plan? If 50% is set aside in the bonus equalization reserve fund, how much money is to be paid out for 2006 07 as Scanlon Bonus?