Question
Unless instructed otherwise, compute hourly rate and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and
Unless instructed otherwise, compute hourly rate 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.
3. If the third decimal place is less than 5, drop the third decimal place.
Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow.
Abel works a 37-hour week at $10.75 an hour. Overtime hours are paid at 1 times the regular rate. Round your answers to the nearest cent.
a. Abel's regular weekly earnings are $__________
b. Abel's overtime rate is $____________
c. If Abel works 6 hours overtime during one week, Abel's total gross earnings are $_________
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