Industrial Engineering and Production Management
One of the basic essentials of an incentive plan is that

Minimum wages should be guaranteed
Provide incentive to group efficiency performance
All standards should be based on time studies
A differential piece rate system should exist

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Industrial Engineering and Production Management
Slack represents the difference between the

Latest allowable time and the normal expected time
Proposed allowable time and the earliest expected time
Latest allowable time and the earliest expected time
Normal allowable time and the latest expected time

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