Example 2-10 John Dilcher's is paid an hourly rate of $18.50 per hour, and he worked 49 hours this week. His pay would be calculated as follows: 49 hours x $18.50 = $906.50 9 hours x $9.25 ($18.50 x 0.5) 83.25 overtime premium pay Total gross pay = $989.75 Joseph Cavato is paid $12.22 per hour. During the past week, he worked 44 hours, and he is a covered employee who must be paid for overtime. Calculate his gross pay using the overtime premium approach. Round your overtime rate to two decimal places and use the rounded amount in subsequent computations. Round your final answers to the nearest cent. a. Regular pay (44 hours) 537.68 b. Overtime premium pay 73.32 x c. Gross pay 562.02