Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Job A Job B Overtime pay (Job B) Total pay $622.80 (36x $17.30) $164.00 (8x $20.50) $41.00 (4 x $10.25) $827.80 ($622.80 $164.00 $41.00)

image text in transcribed

Job A Job B Overtime pay (Job B) Total pay $622.80 (36x $17.30) $164.00 (8x $20.50) $41.00 (4 x $10.25) $827.80 ($622.80 $164.00 $41.00) Kyle Forman worked 45 hours during the week for Erickson Company at two different jobs. His pay rate was $13.85 for the first 40 hours, and his pay rate was $12.20 for the other 5 hours. Round your overtime rate and other interim computations to two decimal places and use the rounded amount in subsequent computations. Round the final answers to the nearest cent. Determine his gross pay for that week if the company uses the one-half average rate method. a. Gross pay 649.17 X b. If prior agreement existed that overtime would be paid at the rate for the job performed after the 40th hour, the gross pay would be Feedback Check My Work a. One-half average rate method is calculated by taking the total earnings for both jobs, dividing by the total hours worked, then taking one-half of this rate and multiplying by the overtime hours. b. Use overtime rate based on the rate for the job performed after the 40 hour

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

Managerial Accounting Tools for business decision making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

5th edition

470506954, 471345881, 978-0470506950, 9780471345886, 978-0470477144

More Books

Students also viewed these Accounting questions