How to apply hour-based step progressions per salary plan and per job code?

We are currently reviewing the PeopleSoft 9.2 Salary Plan, Grades and Steps (including the Define Wage Progression Rules page) and the Automated Step Increase process (CMP107), to see how the delivered functionality can be utilized, to process part-time hour-based step progressions per job code.

Will the Automated Step Increase process (CMP107), using hour-based step progressions, increase per individual job code? Example: An employee is attached to job code 'A' (Salary Plan XXX, Grade A, Step 1) and then transfers to job code 'B' (Salary Plan XXX, Grade B, Step 1). When the Automated Step Increase process (CMP107) is run, is the system smart enough to know that the job code 'A' hours worked are to be accumulated separately from job code 'B' hours worked, to determine when the actual increase is to be applied?