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    Saman has worked for ANB Group Ltd for 4 years. Her basic salary was 40,000 TK in her first year and increased by 12% each year. She contributed 5% of her basic salary to her provident fund each year, as did her employer. The summary calculates Saman's annual provident fund contributions over her 4 years of employment totaling 228,412 TK. The second section describes how a factory worker's earnings are calculated based on his hourly rate, standard production amount, and premium earned for units produced above the standard. It shows how a worker earning 12 TK/hour who produces 72 units in 8 hours would earn 148.8 TK total.

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    Saman has worked for ANB Group Ltd for 4 years. Her basic salary was 40,000 TK in her first year and increased by 12% each year. She contributed 5% of her basic salary to her provident fund each year, as did her employer. The summary calculates Saman's annual provident fund contributions over her 4 years of employment totaling 228,412 TK. The second section describes how a factory worker's earnings are calculated based on his hourly rate, standard production amount, and premium earned for units produced above the standard. It shows how a worker earning 12 TK/hour who produces 72 units in 8 hours would earn 148.8 TK total.

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    62 views2 pages

    MGT Math

    Uploaded by

    csolution
    Saman has worked for ANB Group Ltd for 4 years. Her basic salary was 40,000 TK in her first year and increased by 12% each year. She contributed 5% of her basic salary to her provident fund each year, as did her employer. The summary calculates Saman's annual provident fund contributions over her 4 years of employment totaling 228,412 TK. The second section describes how a factory worker's earnings are calculated based on his hourly rate, standard production amount, and premium earned for units produced above the standard. It shows how a worker earning 12 TK/hour who produces 72 units in 8 hours would earn 148.8 TK total.

    Copyright:

    © All Rights Reserved
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    of 2

    1. Saman has been working for ANB Group Ltd. for the last 4 years.

    She will be switching


    to a new job in a different organization from the next month. Her basic salary was TK
    40,000 when she first joined in ANB Group. From the second year she has been enjoying
    a 12% increase in her basic salary every year. Now that she will be joining a new
    organization, she is worried about her provident fund contribution. Provident fund was
    one of the benefits she enjoyed with all other benefits. The PF contribution was 5% of her
    basic salary and her employer also contributed an equal portion. Now, help Saman in
    calculating her provident fund for the years she has worked. (Use the schedule from your
    slides)

    YEAR Basic Salary Employee’s Employer’s PF/Month PF/Year (TK)


    (TK) Contribution Contribution (TK)
    (5%) Total (TK)
    1st 40,000 2000 2000 4000 4000*12=48000
    2nd (12% 44800 2240 2240 4480 4480*12=53760
    increase)
    3rd (12% 50176 2509 2509 5018 5018*12=60216
    increase)
    4th (12% 56197 2809.9 2809.9 5619.7 5619.7*12=6743
    increase) 6
    Total PF 229412

    2. Hasin works at the factory of Padma Mills. For him the standard production is 48 units
    per day. His job has hourly rate of Tk. 12/hour and the standard work hour is 8 hours/day.
    10 percent premium for producing each piece above the standard number of units is
    provided by the factory. What would be his total earnings according to guaranteed
    piecework if Hasin produces 72 units at the end of the day? Provide detailed calculation.

    Standard Unit/hr => 48/8= 6 units

    Standard rate/hr => 12/6 = 2

    Premium rate/unit => 2*1.1 = 2.2

    If the employee produces 72 units then,

    Wages from producing standard unit = 2*48 = $96

    Wages from producing premium untis = 2.2*(72-48=24) = $52.8

    This study source was downloaded by 100000831952622 from CourseHero.com on 12-19-2021 01:26:40 GMT -06:00

    https://www.coursehero.com/file/78735557/MGT-Mathdocx/
    Total = $148.8

    This study source was downloaded by 100000831952622 from CourseHero.com on 12-19-2021 01:26:40 GMT -06:00

    https://www.coursehero.com/file/78735557/MGT-Mathdocx/
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