Libby is an hourly employee who earns $14.32/hour. She is paid overtime only for hours worked...
Libby is an hourly employee who earns $14.32/hour. She is paid overtime only for hours worked past 40 in one week. During a weekly pay period, she worked the following hours:
| Day | Hours | Minutes |
| Monday | 8 | 47 |
| Tuesday | 8 | 22 |
| Wednesday | 6 | 25 |
| Thursday | 9 | 6 |
| Friday | 7 | 58 |
What is the difference between her pay using the quarter-hour and the hundredth-hour methods? Which method pays Libby the greater amount? (Do not round interim calculations. Round final answer to two decimal places.)
Homework Answers
Solution a:
Total hours worked by Libby = 8 hours, 47 minute + 8 hours, 22 minutes + 6 hours, 25 minutes + 9 hours, 6 minutes + 7 hours, 58 minutes
= 40 hours, 38 minutes
Total time worked using quarter hour method = 40 hours + 45/60 = 40.75 hours (Rounded off to nearest quarter hour)
Pay using quarter hour method = 40*$14.32 + 0.75*$14.32*1.50 = $588.91
Total time worked using hundredth hour time = 40 hours + 38/60 = 40.63 hours
Pay using hundredth hour method = 40*$14.32 + 0.63*$14.32*1.50 = $586.33
difference between her pay using the quarter-hour and the hundredth-hour methods = $588.91 - $586.33 = $2.58
Quarter hour method pays libby the greater amount.
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