General Studies · Wage Payment Plans

Regarding Taylor's Differential Piece Rate system of wage payment, which of the following statements are correct? A. A precise standard time is established for each task using meticulous time and motion studies. B. The system ensures industrial harmony by providing a guaranteed minimum daily wage to all workers regardless of output. C. Two distinct piece rates are utilized: a higher rate for workers who meet the standard and a lower rate for those who fall short. D. The typical rates established for the scheme are 175% of the piecework rate for efficient workers and 83% for inefficient workers. Choose the most appropriate answer from the options given below: