Meaning of fixed wages

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Querist : Anonymous

Querist : Anonymous (Querist)

10 August 2015 hie..
i am an ipcc student recently started fiancial management..in a question it is given as

"wages(40% fixed)"

does there exists anything like variable wages and fixed wages..i know only about variable and fixed overheads..can anyone explain me about this?? if possible with examples..!

thank you

Amol S Joglekar

Amol S Joglekar (Expert)
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10 August 2015 Congratulations in selecting IPCC as your career course. My dear, please note that there will be more and more number of such IRRITATING instances of English language. Please keep cool... let me tell you one thing... the people with whom you will be dealing; once you become a full fledged professional CA, would be mostly non CA as well as non commerce also.. And you need to understand them and put it in right perspective of language...ok? So please dont try to be a TOEFL aspirant....(Test of English as Foreign Language)

Amol S Joglekar

Amol S Joglekar (Expert)
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10 August 2015 Now coming to the practical aspect of your query:

Although there may not be in existence what is called as variable wages and/or fixed wages, there DOES exist wages which are either PIECE rate basis or TIME rate basis or combination of both. e.g. the rate per piece of ROTI or PAPAD is agreed between employer and employee. This is a case of variable wages.
Bank employees, Insurance company employees get TIME wages... This could be viewed in the context of MARGINAL costing as FIXED wages.
Your views please.

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Querist : Anonymous

Querist : Anonymous (Querist)

10 August 2015 with your lucid examples it helped me a lot..by the way i have a silly but important question that...my handwriting is completely opposite to my english..though i have good communication skills, my handwriting is very poor..is it going to give any effect while evaluating my answer sheet?

Amol S Joglekar

Amol S Joglekar (Expert)
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11 August 2015 01. I dont think your question is silly. In fact, the one who knows his/her weakneses and strengths; stands to outperform. And since you have earmarked your weakness, you will automatically come up with a solution for the same.

02. Please note, there is no substitute for good handwriting. There are coaching classes to improve your hand writing. Think of joining the same.

03. 'Substance' over 'form'. As said by you, your handwriting is poor, means FORM is poor. So you need to keep the 'substance' at its peak. Be precise in your answer. Be legible in handwriting and I dont think that will negatively affect the evaluation.

All the best.

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