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Joe owns a business which produces wooden furniture he employs 20 workers in the production Department and three workers in the office is Joe pays all his workers wages which are calculated by time rate but he is thinking of changing to peace rate

Respuesta :

Answer:

The peace rate will result in lower total wages than time rate.

Explanation:

Piece rate is a wages calculator in which labors are paid for the piece of work done by them. They are paid for the quantity of units produced irrespective of time consumed. Time rate is wage calculation method in which wages are calculated based on hours worked. The major disadvantage for this method is that labors can waste time making products due to securing high wage.