merrick differential peice rate plan..(piece wage plan)
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This document discusses Merrick's differential piece rate system. It establishes rates for workers based on their level of efficiency. Workers receiving 83-100% efficiency receive the normal rate. Those over 100% receive an increased rate, while those under 83% receive the normal rate. It provides an example calculating earnings for workers A, B, C and D based on their individual efficiencies. The advantages include direct incentives and rewards that increase competition. Disadvantages include difficulties setting standards and potential impacts to quality from a focus only on quantity.
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merrick differential peice rate plan..(piece wage plan)
- 1. 1
- 2. SUBJECT : Cost accounting › Chapter : labour costing 2
- 3. Kulmit singh banged - (4) Kiranjeet kaur gahunia - (15) Satnam singh saini - (46) 3
- 4. 4
- 5. Differential piece rate plans are as follows…. 5
- 6. Meaning Rates applied Advantages Disadvantages Conclusion 6
- 7. Meaning Rates applied Advantages Disadvantages conclusion 7
- 8. ‹#›
- 9. Merrick Differential piece rate system 9 This system made by Mr. Merrick, is a modification of Taylor’s differential piece rate system. Under Taylor’s differential piece rate system, workers by whom 100% efficiency cannot be attained are penalized, whereas under Merrick system, there is no imposition of such punitive lower rate upon them; whereas, those by whom certain percentage or more, of efficiency can be achieved, are rewarded by higher differential rates.
- 10. 10 It is an output based system
- 11. Meaning Rates applied Advantages Disadvantages conclusion 11
- 12. Up to 83% efficiency Normal rate is applicable Between 83% & 100% of efficiency of normal rate is allowed Above 100% efficiency of normal rate is allowed Rates applied are as follows : 12
- 13. 13
- 14. 14 A produced….B produced….C produced…..D produced….. The piece rate and Standard output are Level of performance can Be calculated by So level of performance of A, B, C, D are….. For example….
- 15. Rates applied are as follows A’s level isWhich is less than 1oo% But more than 83% So here rate applied will be… That is…. And so A’s earning is…. Now B’s level is… Which is more than 100% So rate applied will be… Which is… And thus B’s earning is… C’s level is only… Which is even less than 83% Therefore normal piece rate Will be applied here… D’s level is more than 100% So same rate of B will be applied here… 15 So C will earn … And thus D will earn…
- 16. Meaning Rates applied Advantages Disadvantages conclusion 16
- 17. Advantages of merrick’s piece rate system: 1. There is a direct connection between effort and reward. Efficient workers are paid according to their performance and hence a sense of competition is created among workers. 17
- 18. 2. There is a direct incentive to work . 3. decreased cost of production specially overhead cost per unit. 18 Advantages of merrick’s piece rate system:
- 19. 4. Since the cost per unit is fixed computation of labour costs of production in advance is possible. 5. Worker assumes the responsibility of his time and output so there is considerable scope of reduction in managerial cost. 6. Since the payment is linked with results the idle time costs are reduced to minimum. 19 Advantages of merrick’s piece rate system:
- 20. 20
- 21. Meaning Rates applied Advantages Disadvantages conclusion 21
- 22. 1. Setting of piece rates or standard hours involves lot of difficulties It is difficult to establish fair standard- If high standard or rates are established, it Is very difficult to reduce them subsequently. 2. Quality of work is another casualty of this system. Since the payment is made on the basis of output, every worker tempts to produce more and more irrespective of quality of product. 3. For the maintenance of quality of standards a rigid system of supervision and inspection is necessary. 22 There are certain disadvantages of piece rate system:
- 23. 4. The workers tend to work for longer hours in temptation to earn more This leads to excessive fatigue, ill-health and risk of accident. 5. There is always danger to the flow of production and regularity of minimum wage to the workers. 6. uniform rate is paid regardless of quality and quantity of work. There is no special incentive for exceptionally good workmanship and expertise. 23 There are certain disadvantages of piece rate system:
- 24. Meaning Rates applied Advantages Disadvantages Conclusion 24
- 25. 25 Other differential piece rate plans are…….
- 26. 26
- 27. 27