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cost 3.jpeg
Bolan Engineering limited produces Camp shafi for Millat Tractors limited. The standard production is 40 units
per hour with a Base wage of Rs. 300 per hour for the payment of wages to their workers for their Camp shaft
plant. The company employs 5 workers in Camp shafl plant. Each worker worked 25 days @8 hours per day in the month of March, 2020. The each worker produced the following actual production during the month of March, 2020: Name of workers Actual Outputs
of each worker
“Units”
Muhammad Hassan I 3,800
Muhammad Tayab I 3,600
Zafar Junaid I 9,000
Muhammad Ayuab I 8,000
Mariam khalid I 7,500
Rguired: i). A schedule showing total labor cost for each worker, labor cost per unit for each worker, and total
labor cost for Camp shaft Plant in the month of March, 2020 , if Company uses 80% Time savei, i.e.,
80% Bonus Plan. ii).From the three popular methods of labor remunerations. i.e., time rate system, pieces rate system and
incentive schemes, which system would you recommend to management of Bolan engineering limited as a
Cost and Management accountant? Give in support of recommended system with proper justifications
and advantages to management.

Step-by-step answer

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