Costing and Taxation · Class 12 Commerce
Ch 4Methods of Remuneration – II (Halsey & Rowan) — Class 12 Costing and Taxation, concept-first.
Concept of Labour and Methods of Remuneration – I covered the simplest wage systems — Time Rate, Straight Piece Wages, and the Differential Piece Wage schemes of Taylor and Merrick. Every one of those systems rewards a worker either purely for TIME spent (Time Rate) or purely for OUTPUT produced (Piece Wage systems).
Key concepts
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Halsey Premium Bonus Scheme
The Halsey Premium Bonus Scheme guarantees a worker Time Taken × Time Rate as basic wages, and adds a bonus equal to a fixed percentage — conventionally 50% — of the money value of the time saved (Time Allowed − Time Tak…
Most relevant Q&A
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
Halsey Premium Bonus Scheme
Concept of Labour and Methods of Remuneration – I covered the simplest wage systems — Time Rate, Straight Piece Wages, and the Differential Piece Wage schemes of Taylor and Merrick.
Rowan Premium Bonus Scheme
The Rowan Premium Bonus Scheme, devised by David Rowan, keeps the same guaranteed-wage foundation as Halsey — a worker is always paid at least Time Taken × Time Rate — but changes how the bonus itself…
Comparing Halsey and Rowan Premium Bonus Schemes
Halsey and Rowan solve the same problem — rewarding a worker for finishing in less than the Time Allowed, while guaranteeing at least the Time Rate wage — but their formulas produce genuinely differen…
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- Q1What is a Premium Bonus Scheme? Explain the Halsey Premium Bonus Scheme, stating its formula for computing Bonus and Total Earnings.Free
- Q2A worker is given a Time Allowed of 12 hours to complete a job, at a Time Rate of ₹15 per hour. The worker actually completes the job in 10…Free
- Q3Explain the Rowan Premium Bonus Scheme, stating its formula for computing Bonus and Total Earnings, and briefly state how it differs in prin…Free
- Q4A worker is given a Time Allowed of 8 hours for a job at a Time Rate of ₹25 per hour, and completes the job in 6 hours. Calculate the Bonus…Preview
- Q5A job has a Time Allowed of 10 hours at a Time Rate of ₹20 per hour. The worker completes it in 8 hours. Calculate the Bonus and Total Earni…Preview
- Q6Using the same Time Allowed (10 hours) and Time Rate (₹20 per hour) as in the previous question, suppose instead the worker completes the jo…Preview
- Q7Distinguish between the Halsey and the Rowan Premium Bonus Schemes, in particular explaining how the bonus behaves differently as the amount…Preview
- Q8A worker is given a Time Allowed of 8 hours for a job at a Time Rate of ₹18 per hour, but actually takes 9 hours to complete it. Calculate t…Preview
- Q9For a job with Time Allowed = 10 hours and Time Rate = ₹20 per hour, compute the Rowan Bonus for Time Taken = 3, 4, 5, 6 and 7 hours, and sh…Preview