Question:
Hours worked $\times$ Rate per hour is known as
Hours worked $\times$ Rate per hour is known as
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The time rate system ensures workers are paid for the actual hours worked at a fixed hourly rate.
Updated On: Feb 27, 2025
- Piece rate
- Time rate
- Differential rate
- Labor turnover
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The Correct Option is B
Solution and Explanation
The formula "hours worked $\times$ rate per hour" calculates the total pay based on the time rate system. This is one of the most common methods of compensating workers based on the actual hours worked.
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