Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PSC 2 - 9 Calculate Gross Pay Based on an Incentive Plan Calculate gross pay for each of the following employees of Replay Co .

PSC 2-9 Calculate Gross Pay Based on an Incentive Plan
Calculate gross pay for each of the following employees of Replay Co. The company offers a regular wage rate of $7.90/hour to all employees. Under an incentive plan in place for all employees, this rate increases for any employee who can meet weekly production goals. The increased rates and corresponding thresholds that must be met are as follows:
$8.40/hour for producing at least 2,200 units
$11.75/hour for producing at least 2,600 units
$12.25/hour for producing at least 3,100 units
$15/hour for producing at least 3,500 units
All employees are paid overtime wage rates that are 1.5 times their respective regular wage rates.
NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1:Juliette Franks worked 47 hours and produced 3,664 units.
Gross Pay = $
2:Tracey Wilkins worked 43 hours and produced 2,518 units.
Gross Pay = $
3:Candace Baldwin worked 51 hours and produced 3,304 units.
Gross Pay = $
4:Henry Walker worked 44 hours and produced 2,097 units.
Gross Pay?

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

Management Control Systems Performance Measurement Evaluation And Incentives

Authors: Kenneth Merchant, Wim Van Der Stede

4th Edition

1292110554, 978-1292110554

More Books

Students also viewed these Accounting questions