The standard output of a product has been fixed at 6 units in a day of 8hours, for which wages of12\/-.find the total wages as per piece rate and hasley plan when the output is 5unit and 8 units<\/p>\n\n\n\n
The correct answer and explanation is :<\/strong><\/mark><\/p>\n\n\n\n In this scenario, we are working with a piece-rate wage system and the Hasley plan for determining wages based on a fixed output rate and unit prices.<\/p>\n\n\n\n Let’s break down the two methods for determining wages: Piece Rate System<\/strong> and Hasley Plan<\/strong>.<\/p>\n\n\n\n In the piece-rate system, workers are paid according to the number of units they produce.<\/p>\n\n\n\n The Hasley Plan involves paying workers a fixed rate for meeting or exceeding the standard output. If the worker produces less than the standard output, they are still paid for the standard output.<\/p>\n\n\n\n Under this plan, wages are calculated as follows:<\/p>\n\n\n\n Both systems reward higher productivity, but the Hasley Plan ensures a guaranteed minimum wage.<\/p>\n","protected":false},"excerpt":{"rendered":" The standard output of a product has been fixed at 6 units in a day of 8hours, for which wages of12\/-.find the total wages as per piece rate and hasley plan when the output is 5unit and 8 units The correct answer and explanation is : In this scenario, we are working with a piece-rate […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-198448","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/198448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=198448"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/198448\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=198448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=198448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=198448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Given:<\/h3>\n\n\n\n
\n
1. Piece Rate System:<\/strong><\/h3>\n\n\n\n
\n
\\text{Piece Rate} = \\frac{\\text{Wages}}{\\text{Standard Output}} = \\frac{12}{6} = 2 \\text{ per unit}
] For 5 units<\/strong>: [
\\text{Wages for 5 units} = 5 \\times 2 = 10
] For 8 units<\/strong>: [
\\text{Wages for 8 units} = 8 \\times 2 = 16
]<\/li>\n<\/ul>\n\n\n\n2. Hasley Plan:<\/strong><\/h3>\n\n\n\n
\n
\\text{Bonus} = (8 – 6) \\times 2 = 2 \\times 2 = 4
] Total wages = \u00a312 (standard wages) + \u00a34 (bonus) = \u00a316<\/strong><\/li>\n\n\n\nSummary of Wages:<\/h3>\n\n\n\n
\n
Conclusion:<\/h3>\n\n\n\n
\n