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    poppy19's Avatar
    poppy19 Posts: 1, Reputation: 1
    New Member
     
    #1

    Dec 10, 2015, 01:46 PM
    Accounting question
    Hi I am stuck on an accounting question about labor costs. I have tired working it out and the answers are written at the back of the book but I just don't understand how to get to these answers. Here is the question:

    Julia Gillard is paid 65p for each piece of jewelry she makes. She is guaranteed minimum wage of £260 for 40 hours a week. Work out how much she is paid weekly. Weekly production are:
    Week ending 5th October: 350
    Week ending 12th October: 450
    Week ending 19th October: 300
    Week ending 26th October: 500

    The answer are as follows:
    Week ending 5th October: £260
    Week ending 12th October: £292.50
    Week ending 19th October: £260
    Week ending 26th October: £325

    I understand how to get the second and last answer where I just multiply 65p by the weekly production but I don't understand how to get to the first and fourth answer. Any help will be greatly appreciated. Thank you.
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #2

    Dec 10, 2015, 03:04 PM
    Did you convert pence to pounds correctly? I also note that she got paid the same on the 5th and 19th even though production is the same.
    kcomissiong's Avatar
    kcomissiong Posts: 1,166, Reputation: 276
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    #3

    Jan 27, 2016, 09:04 PM
    Is she is guaranteed a minimum wage of 260 pounds per week, in weeks where she made 260 pounds, her production did not exceed 260 pounds. Calculate the projected wage based on production, and use the higher of the two (projected wage based on production vs minimum wage).
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #4

    Jan 28, 2016, 03:38 PM
    basic mathematical skills and logic skills are needed when you multiply a quantity by a value and compare the answer with a reference point you should see your path 450*.65 =292.50

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