Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, calculate hourly rates and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate). 2. if the third decimal place is 5 or more, round to the next higher cent. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52 = $421.615 rounded to $421.62 Hourly rate $421.62/40 - $10.540 rounded to $10.54 O.T. rate $10.54 x 1.5 - $15.81 Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. 3. Figure 2.3 Time Card No. 312 Pay Ending October 17, 20-- NAME GARY A. SCHNEIDER 000-00-7471 Hours Rate Amount OASDI 32 66 Reg. 40 10.75 430 00 HI 7 64 O/T 6 16.13 96 78 FIT 63 00 SIT 10 54 DEDUCTIONS Group Life Ins. 1 60 Hospital Ins. 3 15 Total Earnings 526 78 U.S Sav. Bonds 5 00 Less Deductions 123 59 Other NET PAY 403 19 Total 123 59 MORNING AFTERNOON OVERTIME Days Daily Totals IN OUT IN OUT IN OUT Less Deductions 123 59 Other NET PAY 403 19 Total 123 59 MORNING AFTERNOON OVERTIME Days Daily Totals IN OUT IN OUT IN OUT 1 M 759 M 1203 M 100 M 505 8 2. TU 750 TU 1204 TU 1259 TU 507 8 W 751 w 1201 w 1250 w 504 W 529 W 735 10 4 TH 800 TH 1202 TH 1258 TH 503 8 un FR 800 FR 1205 FR 101 FR 506 8 6 SA 755 SA 1204 4 7 Signature Gary A. Schneider Under the decimal system of computing time worked at Timmerman Company, production workers who are tardy are "de Under the decimal system of computing time worked at Timmerman Company, production workers who are tardy are "docked according to the schedule shown below. Minutes Late in Fractional Hour Ringing in Deducted 1 through 6 1/10 7 through 12 2/10 13 through 18 3/10 19 through 24, etc. 4/10 The regular hours of work, Monday through Friday, are from 7:30 to 11:30 A.M. and from 12:30 to 4:30 PM. During one week, Henry Vanderhoff, who earns $12.40 an hour, reports in and checks out as shown below. Employees are not paid for ringing in a few minutes before 7:30 and 12:30 nor for ringing out a few minutes after 11:30 and 4:30. (a) DAY AM PM HRS WORKED In Out In Out M 7:28 11:31 12:29 4:31 T 7:35 11:30 12:30 4:30 w 7:50 11:33 12:27 4:32 Th 7:27 11:31 12:50 4:33 F 7:28 11:32 12:40 4:30 Refer to the partial time card and compute the following: a. The hours worked each day. Enter any fraction of an hour as a decimal. For example 2/10 hours would be entered as 2.3. Monday hours Tuesday hours Wednesday hours Thursday hours Friday hours b. The total hours worked. Round your answer to one decimal place. hours c. The gross earnings for the week. Round your answer to the nearest cent. Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, calculate hourly rates and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate). 2. if the third decimal place is 5 or more, round to the next higher cent. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52 = $421.615 rounded to $421.62 Hourly rate $421.62/40 - $10.540 rounded to $10.54 O.T. rate $10.54 x 1.5 - $15.81 Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. 3. Figure 2.3 Time Card No. 312 Pay Ending October 17, 20-- NAME GARY A. SCHNEIDER 000-00-7471 Hours Rate Amount OASDI 32 66 Reg. 40 10.75 430 00 HI 7 64 O/T 6 16.13 96 78 FIT 63 00 SIT 10 54 DEDUCTIONS Group Life Ins. 1 60 Hospital Ins. 3 15 Total Earnings 526 78 U.S Sav. Bonds 5 00 Less Deductions 123 59 Other NET PAY 403 19 Total 123 59 MORNING AFTERNOON OVERTIME Days Daily Totals IN OUT IN OUT IN OUT Less Deductions 123 59 Other NET PAY 403 19 Total 123 59 MORNING AFTERNOON OVERTIME Days Daily Totals IN OUT IN OUT IN OUT 1 M 759 M 1203 M 100 M 505 8 2. TU 750 TU 1204 TU 1259 TU 507 8 W 751 w 1201 w 1250 w 504 W 529 W 735 10 4 TH 800 TH 1202 TH 1258 TH 503 8 un FR 800 FR 1205 FR 101 FR 506 8 6 SA 755 SA 1204 4 7 Signature Gary A. Schneider Under the decimal system of computing time worked at Timmerman Company, production workers who are tardy are "de Under the decimal system of computing time worked at Timmerman Company, production workers who are tardy are "docked according to the schedule shown below. Minutes Late in Fractional Hour Ringing in Deducted 1 through 6 1/10 7 through 12 2/10 13 through 18 3/10 19 through 24, etc. 4/10 The regular hours of work, Monday through Friday, are from 7:30 to 11:30 A.M. and from 12:30 to 4:30 PM. During one week, Henry Vanderhoff, who earns $12.40 an hour, reports in and checks out as shown below. Employees are not paid for ringing in a few minutes before 7:30 and 12:30 nor for ringing out a few minutes after 11:30 and 4:30. (a) DAY AM PM HRS WORKED In Out In Out M 7:28 11:31 12:29 4:31 T 7:35 11:30 12:30 4:30 w 7:50 11:33 12:27 4:32 Th 7:27 11:31 12:50 4:33 F 7:28 11:32 12:40 4:30 Refer to the partial time card and compute the following: a. The hours worked each day. Enter any fraction of an hour as a decimal. For example 2/10 hours would be entered as 2.3. Monday hours Tuesday hours Wednesday hours Thursday hours Friday hours b. The total hours worked. Round your answer to one decimal place. hours c. The gross earnings for the week. Round your answer to the nearest cent