Time Wage/Rate System (Workers made (payment on (basis time (spent…
Time Wage/Rate System
as a base
Time wage= Time spent*Rate per unit of time.
It proves useful
(1) No standard unit of output is there.
(2) Quality is superior to quantity.
(5) Mental efforts are involved.
(3) Non-standardised work.
(6) Production process is complex.
(4) Delays in work are frequent.
W= T* R