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A skilled worker is paid a guaranted wage rate of 7 150 per hour. The standard time allowed for a job is 50 hours. He gets an effective hourly-rate of wages of ? 180 under Rowan Incentive Plan due to saving in time. For the same saving in time, calculate the hourly-rate of wages he will get, if he is placed under Halsey Premium Scheme (50%).



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Answer:

Step-by-step explanation:

To calculate the hourly rate of wages the skilled worker will get under the Halsey Premium Scheme with a 50% bonus for the same time saved, we can use the formula for the Halsey Premium Scheme:

Effective hourly rate = (Standard time / (1 + (bonus % / 100))) * Guaranteed wage rate

Given:

Guaranteed wage rate = $7.150 per hour

Standard time = 50 hours

Effective hourly rate under the Rowan Incentive Plan = $180

Bonus % for Halsey Premium Scheme = 50%

Plugging in the values:

Effective hourly rate under the Halsey Premium Scheme = (50 / (1 + 0.5)) * 7.150

Effective hourly rate under the Halsey Premium Scheme = (50 / 1.5) * 7.150

Effective hourly rate under the Halsey Premium Scheme ≈ 33.33 * 7.150

Effective hourly rate under the Halsey Premium Scheme ≈ $238.33

Therefore, under the Halsey Premium Scheme with a 50% bonus, the skilled worker will get an effective hourly rate of approximately $238.33 for the same time saved.

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