Elements of Cost Accounting - Labour (Part 4) | Dr.T.Arunmozhi | Department of Commerce.
Автор: KCSKNC Knowledge Nest
Загружено: 2025-12-15
Просмотров: 3
Описание:
This video by Dr. T. Arunmozhi explains Taylor's Differential Piece Rate System and the calculation of Normal and Overtime Wages.
Key Concepts & Formulas
Taylor’s Differential Piece Rate System: Designed to reward efficiency.
Low Piece Rate: 80% of the normal rate for workers performing below standard.
High Piece Rate: 120% of the normal rate for workers performing above standard.
Overtime Wages: Calculated based on either daily or weekly hours, often at a "double rate" for hours exceeding standard limits.
Practical Problems
Taylor's System Example:
Standard Output: 1,400 units in 8 hours.
Worker A (1,300 units): Below standard (92.85%). Earns ₹0.08 per unit. Total: ₹104.
Worker B (1,500 units): Above standard (107.14%). Earns ₹0.12 per unit. Total: ₹180.
Overtime Wages Example (Nov 2021):
Calculates wages based on hours worked across the week (Monday to Saturday).
Compares daily vs. weekly calculations to determine the most beneficial pay for the workman.
Result: Calculations show totals of ₹500 or ₹520 depending on the basis used
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