Question
Colleen Prescott is a salaried employee who works fluctuating work schedules. She is paid a fixed salary of $920 each week, with an agreement with
Colleen Prescott is a salaried employee who works fluctuating work schedules. She is paid a fixed salary of $920 each week, with an agreement with her employer that overtime (over 40 hours) will be paid at an extra half-rate, based on the actual hours worked. This week she worked 42 hours. Compute the following amounts.
Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent.
a. The overtime earnings | $fill in the blank 1 |
b. The total earnings | $fill in the blank 2 |
c. If this was a BELO plan with a pay rate of $21 per hour and a maximum of 45 hours, how much would Prescott be paid for 42 hours? $fill in the blank 3
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a. Divide fixed salary by total hours worked; divide by 2 to get special half rate; multiply half rate by hours over 40 to calculate overtime earnings. b. Add total of fixed salary and overtime earnings. c. For a Belo Plan multiply maximum hours by hourly rate. Add this to times the regular rate multiplied by the number of hours over 40 = Belo Pay.
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