An employee whose regular hourly rate is $10 and whose overtime rate is 1.5 times the regular rate worked 44 hours in one week. In the payroll register, the employer should record wages expense of
Solution :
Overtime Rate Per Hour = | Hourly Pay Rate x 1.5 x Overtime hours worked | ||||||
10 x 1.5 x 44= 660 Total Over Time Wages | |||||||
Total Over Time Wages / overtime hours worked | |||||||
660/44 = 15 | |||||||
Hence Overtime Rate per Hour = 15 |
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