In UK law, the fair piece rate lets an average worker earn:
Aa share of company profit
Bthe minimum wage per hour
Ctwice the minimum wage
Da guaranteed annual bonus
Answer & Solution
Correct answer: B. the minimum wage per hour
The fair rate is set so an average-paced worker reaches the minimum wage for each hour.
Keep practising Employee Cost
Browse all Employee Cost questions for CA Inter, or explore more Cost and Management Accounting topics.
Related questions
An Improshare standard identifies the expected number of what?Profit sharing payments often depend on the company's:Improshare stands for:A Scanlon plan incentive uses the ratio of labour cost to:Gainsharing differs from profit sharing as it measures:Gainsharing returns what to employees?Perks are benefits that are mostly:Exchanging cash wages for another benefit is called salary: