In cases where a states minimum wage is higher than the federal hourly rate the FLSA requires that an employee be paid the higher rate Using the Standard Overtime method an employee is paid one and onehalf times their regular hourly rate of pay for work that exceeds hours Example Employee has moved to a state where minimum wage is 1295 per hour Example worked 46 hours for this pay period The computation is as follows Hours Formula Amount Standard Hours 400 400 hours 1295 51800 Overtime hourly rate 1295 15 1943 rounded to 2 decimals Overtime Hours 60 1943 60 hours 11658 Gross Earnings 63458 Overtime Premium Approach An alternative method for computing overtime referred to as the Overtime Premium Approach initially takes the total hours worked including overtime hours and multiplies the total by the regular rate of pay Then an overtime premium rate is calculated the regular hourly rate multiplied by onehalf The hours worked in excess of 40 are multiplied by this rate to determine the overtime pay Example Employee is still earning 1295 per hour Example worked 46 hours for this pay period Using the the overtime premium approach his overtime is computed as follows Hours Formula Amount Hours Worked 460 460 hours 1295 59570 Overtime hourly rate 1295 05 648 rounded to 2 decimals Overtime Hours 60 648 60 hours 3888 Gross Earnings 63458 Lock it Down Note Round interim calculations to two decimal places Use rounded amounts in subsequent computations And round your final answer to two decimal places Quinn Thatcher earns 1525 per hour and worked 42 hours for this pay period Compute the following gross earnings for Quinn Regular Hours fill in the blank 0843d1ffb054fe32 Hourly Rate fill in the blank 0843d1ffb054fe33 Regular Total Pay fill in the blank 0843d1ffb054fe34 Overtime Hours fill in the blank 0843d1ffb054fe35 Overtime Rate fill in the blank 0843d1ffb054fe36 Overtime Total Pay fill in the blank 0843d1ffb054fe37 Total Gross Earnings fill in the blank 0843d1ffb054fe38 Compute Finley Crews gross earnings under the overtime premium approach The hourly rate is 1625 and 44 hours were worked during the week Regular Hours fill in the blank 0843d1ffb054fe39 Hourly Rate fill in the blank 0843d1ffb054fe310 Regular Total Pay fill in the blank 0843d1ffb054fe311 Overtime Hours fill in the blank 0843d1ffb054fe312 Overtime Rate fill in the blank 0843d1ffb054fe313 Overtime Total Pay fill in the blank 0843d1ffb054fe314 Total Gross Earnings fill in the blank 0843d1ffb054fe315