Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I am not sure what i did wrong here: 2,414/ month 35 hour work week 2,414*12= 28,968 Annual 28,968/52= 557.08 Weekly 557.08/35= 15.92 Hourly 15.92*1.5=

I am not sure what i did wrong here:

2,414/ month 35 hour work week

2,414*12= 28,968 Annual

28,968/52= 557.08 Weekly

557.08/35= 15.92 Hourly

15.92*1.5= 23.87 OT

10 extra hours 2 are over 40 so 8 reg 2 OT

8*15.92= 127.33

2*23.87= 47.75 OT

1207+127.33+47.75= 1382.08 However this is wrong ... what did I do wrong please advise.

image text in transcribed

Sheila Williams, a medical secretary, earns $2,414 monthly for a 35-hour week. For overtime work, she receives extra pay at the regular hourly rate up to 40 hours and time and one-half beyond 40 hours in any week. During one semimonthly pay period, Williams worked 10 hours overtime. Only 2 hours of this overtime were beyond 40 hours in any one week. 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 regular semimonthly earnings b. The overtime earnings c. The total earnings 1,207 47.75 X 1,382.00 a. Divide monthly earnings by 2 to get semimonthly earnings b. Annualize monthly earnings; divide by 52 weeks; divide by 35 hours to get hourly rate; multiply by 1.5 to get overtime rate; multiply hours over 40 by overtime rate to calculate overtime earnings c. Total regular and overtime earnings

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Auditing

Authors: Graham Cosserat

1st Edition

0471810584, 9780471810582

More Books

Students also viewed these Accounting questions