Weekly salary $550: $550 0.025 = $13.75 hourly rate; $550 0.0375 = $20.63 hourly overtime rate Monthly salary $1,800: $1,800 0.00577 = $10.39 hourly rate; $1,800 0.00866 = $15.59 hourly overtime rate

Connie Duffy started working for Dexter Company on Thursday of this week. She worked 10 hours on Thursday and 8 hours on Friday. Her annual salary is $78,000, and she is an exempt white-collar employee.

Determine her gross pay for her first partial week of work.

Gross pay

$

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Employees are usually paid for time worked at a time rate, such as hourly, weekly, biweekly, semimonthly, or monthly. The employee may also be paid at a piece rate, incentive rate, commission basis, or a combination of these rates. Workers paid on a monthly basis earn overtime pay for work beyond a 40-hour week, compute the hourly overtime rate by converting the monthly salary rate to an hourly rate.

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 th 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 2-13 Weekly salary $550: $550 0.025 = $13.75 hourly rate; $550 0.0375 = $20.63 hourly overtime rate Monthly salary $1,800: $1,800 0.00577 = $10.39 hourly rate; $1,800 0.00866 = $15.59 hourly overtime rate Connie Duffy started working for Dexter Company on Thursday of this week. She worked 10 hours on Thursday and 8 hours on Friday. Her annual salary is $78,000, and she is an exempt white-collar employee. Determine her gross pay for her first partial week of work. Gross pay $ Feedback Employees are usually paid for time worked at a time rate, such as hourly, weekly, biweekly, semimonthly, or monthly. The employee may also be paid at a piece rate, incentive rate, commission basis, or a combination of these rates. Workers paid on a monthly basis earn overtime pay for work beyond a 40-hour week, compute the hourly overtime rate by converting the monthly salary rate to an hourly rate