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
TR
TR + [(S - T)/2] × R
TR + (S - T) × R
TR + [(S - T)/S] × R
Correct Answer :
B. TR + [(S - T)/2] × R
Related Questions
Statistical quality control techniques are based on the theory of
Quality
Statistics
Probability
All of the above
The main advantage of line organisation is its
Effective command and control
Defined responsibilities at all levels
Rigid discipline in the organisation
All of the above
The time required to complete a job is established and a bonus is paid to the worker based on the exact % of time saved. This type of incentive plan is known as
Dry work Plan
Halsey Premium Plan
Taylor Plan
Rowan Plan
Gantt chart is used for
Inventory control
Material handling
Production schedule
Machine repair schedules
Critical path on PERT/CPM chart is obtained by joining the events having
Maximum slack
Minimum slack
Average slack
No slack
Pessimistic time is
The maximum time which an activity might require
The average time required for a job
The most probable time considering all conditions
The minimum time in which an activity can possibly be accomplished
A diagram showing the path followed by men and materials while performing a task is known as
String diagram
Flow process chart
Travel chart
Flow diagram
Job evaluation is the method of determining the
Relative worth of jobs
Skills required by a worker
Contribution of a worker
Contribution of a job
In time study, the rating factor is applied to determine
Standard time of a job
Merit rating of the worker
Fixation of incentive rate
Normal time of a worker
The basic difference between PERT and CPM is that
PERT deals with events and CPM with activities
Critical path is determined in PERT only
Costs are considered on CPM only and not in PERT
Guessed times are used in PERT and evaluated times in CPM
Line organisation is suitable for
Sugar industries
Oil refining industries
Spinning and weaving industries
All of these
Work study is concerned with
Improving present method and finding standard time
Motivation of workers
Improving production capability
Improving production planning and control
The aim of value engineering is to
Find the depreciation value of a machine
Determine the selling price of a product
Minimise the cost without change in quality of the product
All of the above
Breakeven analysis consists of
Fixed cost
Variable cost
Fixed and variable costs
Operation costs
Micro-motion study is
Analysis of one stage of motion chart
Motion study, when seen on a time chart
Subdivision of an operation into therbligs and their analysis
Enlarged view of motion study
In fixed position layout
Total production cost is less
Material movement is less
Capital investment is minimum
All of these
The factors to be considered for production scheduling are
Component design
Route sheet
Time standards
All of these
For a small scale industry, the fixed cost per month is Rs. 5000. The variable cost per product is Rs. 20 and sales price is Rs. 30 per piece. The break even production per month will be
300
460
500
1000
Performance rating is equal to
Observed performance + normal performance
Observed performance - normal performance
Observed performance × normal performance
None of the above
The probability distribution of project completion in PERT follows following distribution
Normal
Binomial
Exponential
Gaussian
Work study involves
Only method study
Only work measurement
Method study and work measurement
Only motion study
According to Rowan plan of wage incentive system, bonus is paid to a worker
Whose output exceeds 67% efficiency
On the percentage of time saved
On the percentage of time worked
On the percentage of standard time
Choose the wrong statement Time study is used to
Determine overhead expenses
Provide a basis for setting piece prices or incentive wages
Determine standard costs
Determine the capability of an operator to handle the number of machines
Percent idle time for men or machines is found by
Work sampling
Time study
Method study
Work study
Process layout is employed for
Batch production
Continuous type of product
Effective utilisation of machines
All of the above
Current assets include
Manufacturing plant
Manufacturing plant and equipment
Inventories
Common stock held by the firm
P.M.T.S. (Predetermined Motion Time Systems) include
M.T.M. (Method Time Measurement)
W.F.S. (Work Factor Systems)
B.M.T.S. (Basic Motion Time Study)
All of these
The allowed time for a job equals standard time plus
Policy allowance
Interference allowance
Process allowance
Learning allowance
What does symbol 'D' imply in work study?
Inspection
Transport
Delay/temporary storage
Permanent storage
The wastage of material in the store is taken into account by the following method in the evaluation of the material issued from the store
Inflated system
Primary cost method
Current value method
Fixed price method