Question
Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise , calculate hourly rates and overtime rates as follows: 1.
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 over-time rate). | |
2. | If the third decimal place is 5 or more, round to the next higher cent. | |
3. | If the third decimal place is less than 5, simply drop the third decimal place. | |
Examples: | Monthly rate $1,827 Weekly rate ($1,827 12)/52 = $421.615 rounded to $421.62 Hourly rate $421.62/40 = $10.540 rounded to $10.54 O.T. rate $10.54 1.5 = $15.81 |
Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow.
Example 2-6
John Dilcher is paid an hourly rate of $18.50 per hour, and he worked 49 hours this week. His gross pay is:
40 hours $18.50 | = | $740.00 |
9 hours $27.75 ($18.50 1.5) | = | 249.75 |
Total gross pay | = | $989.75 |
The following time card shows the time worked one week by Ken Pace. The employer disregards any time before 8:00 A.M. or between 12:00 and 1:00 P.M. and after 5:00 P.M. Employees do not begin work until 8:00 A.M. or 1:00 P.M., and do not work beyond 5:00 P.M., unless they are asked to work overtime.
Hours worked beyond the regular 8-hour day and on Saturday are paid at one and one-half times the regular rate. Hours worked on Sunday are paid double the regular rate. Fractions of the hour for time worked are based on full quarter-hour increments.
|
Pace's regular wage rate is $13.66 per hour, and the regular workweek is 40 hours with five 8-hour days. Compute the following:
a. The hours worked each day. (Ignore the one-minute tardiness on Friday.) Enter any fraction of an hour as a decimal. For example 1 1/2 hours would be entered as 1.5.
Monday | hours |
Tuesday | hours |
Wednesday | hours |
Thursday | hours |
Friday | hours |
Saturday | hours |
Sunday | hours |
b. The total hours worked hours
For (c)-(e), round overtime rate to two decimal places and round your answers to the nearest cent. Use the rounded amounts in subsequent computations.
c. The regular earnings $
d. The overtime earnings $
e. The total earnings $
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