Two fitters, a labourer and a boy undertake a job on piece rate for 1,290....
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Two fitters, a labourer and a boy undertake a job on piece rate for 1,290. The time spent by each of them, is 220 normal working hours. The rates of pay on time rate basis, are $1.50 per hour for each of the two fitters, 1 per hour for the labourer and *0.50 per hour for the boy. Calculate : (i) The amount of piece-work premium and the share of each worker, when the piece-work premium is divided proportionately to the time wages paid. (ii) The selling price of the above job on the basis of the following additional data : Cost of direct material - 2,010; Works overhead at 20% of Prime cost; Selling overhead 10% of Works cost and Profit at 25% on Cost of Sales. 5
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