#6 Gantt Task Bonus Plan (Part 1) - Labour Cost | TYBCOM SEM 5 Cost Accounting | BAF | BMS

#6 Gantt Task Bonus Plan (Part 1) - Labour Cost | TYBCOM SEM 5 Cost Accounting | BAF | BMS

GANTT TASK BONUS SYSTEM:
This system also includes the establishment of standards after performed proper time and motion studies. Workers who do their work in the standard time, are known as 100% efficient. They obtain wages for the time taken as well as a bonus at a fixed percentage of the wages earned. Workers who do their tasks in less than the standard time acquire wages for the standard time as well as a bonus at a fixed percentage of wages earned. Bonus is usually 20% of time wages earned. Slow workers are paid definite wages for the day. Mr. Gantt has state that If a man follows his instructions, and completes all the work laid out for him like constituting his proper work for the day, he is paid an exact bonus in addition to the day rate that he all the gets. Though at the end of the day, he has failed to complete all of the work laid out, he does not acquire his bonus, but just his day rate. "The disadvantages" of this plan is that workers are separated into groups one who acquires the bonus and the others who do not.

Labour Cost (Chapter 3) Lectures link:

Material Cost Playlist Link :

Labour Cost Blog:

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Video Presented by :
Prof. Tauseef Khan
(M.Com, MBA, UGC - NET)

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[krishnapandey]

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[rockyking]

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[Girija]

Thank you sir you have given best concept on this bonus plan which will help me in my 2nd sem.

[ammaraltafpatel]

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[ocean]

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[kapilsahu]

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[ajajayvishwakarma]

Sir 20% se nikal na hai question me to nahi diya hai