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If (R) is the base rate guaranteed per hour, (S) is the standard time for the job and (T) is the actual time, then according to Rowan plan, wages for the job will be

If (R) is the base rate guaranteed per hour, (S) is the standard time for the job and (T) is the actual time, then according to Rowan plan, wages for the job will be Correct Answer $${\text{TR}} + \frac{{{\text{S}} - {\text{T}}}}{{\text{S}}} \times {\text{R}}$$

If (R) is the base rate guaranteed per hour, (S) is the standard time for the job and (T) is the actual time, then according to Rowan plan, wages for the job will be $${\text{TR}} + \frac{{{\text{S}} - {\text{T}}}}{{\text{S}}} \times {\text{R}}.$$

Related Questions

Which of the following statements are true/false?
1. A minimum rate of wages for the time spent by employees for the production of output is minimum time rate.
2. Minimum piece rate is the rate based on the quantity of the output employees have produced.
3. The guaranteed time rate is a minimum rate of remuneration to apply in the case of employees employed on piece work for the purpose of securing to such employees a minimum rate of wages on a time work basis.
4. A minimum rate of remuneration to apply in the case of employees employed on piece work for the purpose of securing to such employees a minimum rate of wages on a time work basis is overtime rate.
If (R) is the base rate guaranteed per hour, (S) is the standard time for the job and (T) is the actual time, then according to Halsey 50-50 plan, wages for the job will be
A worker is allowed 60 hours to complete the job on a guaranteed wage of Rs 10 per hour Under the Rowan Plan, he gets an hourly wage of Rs 12 per hour For the same saving in time, how much he will get under the Halsey Plan?
For a work order, standard time and time taken are 20 hours and 15 hours respectively. Time rate being Rs. 2 per hour, total wages payable under Rowan Premium Plan will be:
Which of the following statements is most relevant in the context of Job Analysis? Choose the correct answer from the code given below. (i) Job Analysis helps in identifying the right person for the right job. (ii) A person cannot judge the job from the point of view of its suitability. (iii) Job analysis helps in job satisfaction and job efficiency. (iv) Through Job Analysis an employer cannot evaluate the prospective employee to judge his fitness or otherwise for the job. (v) Job Analysis helps in planning appropriate training programs. (vi) Job Analysis defines client needs in specific terms. (vii) Job Analysis assists in knowing the personnel specifications for various jobs.
Which of the following statements are true/false?
1. In case an employee whose minimum rate of wages is fixed under this Act, works overtime, the employer need not pay the money for the extra hours devoted by the employee.
2. If an employee whose minimum rate of wages has been fixed under this Act, works for a less number of hours than the requisite number of hours on a given day, he shall be entitled to receive wages in respect ofwork done by him on that day as ifhe had worked for a full normal working day.
3. In case an employee is involved in two or more classes of work, he shall be paid on the basis of pieces involved.
4. If an employee is employed on piece work for which minimum time rate and not a minimum piece rate has been fixed under this Act, the employer shall pay to such employee wages at not less than the minimum time rate.
A company recruits candidates satisfying the following criteria -  1. Candidates who secured at least 85% in standard 10th or equivalent. 2. Candidates who secured at least 65% in standard 12th or equivalent. 3. Candidates who are not from commerce background. Who among the following candidates will the company definitely select? A. Jitesh is a science student having scored 70% in standard 12th and 80% in 10th with an excellent sports background. B. Jignesh scored 80% in standard 12th, 90% in standard 10th and secured 2nd place in his college among all commerce students. C. Jayesh scored 75% in standard 10th, 75% in standard 12th and is an arts student. D. Jinesh secured 80% in standard 12th, 88% in standard 10th and is a science student with great acting skills
A lady wants to buy the following items in the given price range- 1. Tomato between Rs. 40 and Rs. 45 per kg. 2. Grapes in the price range of Rs. 80 and Rs. 90 per kg. 3. Milk packets at Rs. 23 per liter. In which shop from the following will she definitely get all her items/ A. Shop S sells tomato at Rs. 22.5 per half kg, Grapes at Rs. 82 per kg and milk at Rs. 24 per liter. B. Shop H sells grapes at Rs. 21 per quarter kg, milk at 12.5 per half litre and tomato at Rs. 22 per half kg. C. Shop O sells milk at Rs. 11.5 per half litre, tomato at 21 per half kg and grapes at Rs. 43 per half kg. D. Shop P sells tomato at Rs. 23.5 per half kg, grapes at Rs. 85 per kg and milk at Rs. 23 per litre.
Which of the following statements are not correct?
1. Pay for an employee includes actual money that employee receives in exchange of his work.
2. Job evaluation provides a basis for measuring individual performance.
3. Human Relations Theory respects formal institutionalisation.
4. Minimum wages are not guaranteed under incentive plan.
5. Job enrichment amounts to expanding vertical and horizontal dimensions of a job.
Both Rowan plan and 50-50 Halsey plan will provide the same earning when the actual time is _________ the standard time.