Mallory gets paid a set amount of money based on the time she puts in at her place of work. This amount of money is not tied to the quality of the raw materials, accidents, or other constraints in the production process. This payment system refers to

Question

Shayla

Business

13 October, 06:05

Mallory gets paid a set amount of money based on the time she puts in at her place of work. This amount of money is not tied to the quality of the raw materials, accidents, or other constraints in the production process. This payment system refers to

+2

Answers (1)

Know the Answer?

Charlize Bowers · Answer 1

the time rate system

Explanation:

The wage payment system is divided into three major types:

Time rate: employees are paid on the basis of time, e. g. per hour, day or week. This payment system doesn't consider any type productivity factors. The main advantage of using this payment system is its simplicity: e. g. amount of hour worked x wage per hour = total salary. Piece rate: employees are paid on the basis of quantity and quality of work performed (productivity). Incentive wage: combination of the two prior systems, where employees are paid a fixed time rate plus a bonus or incentive pay depending on productivity.