Homework Answers
a)
Semi-monthly means two weeks so weekly working hours are 35 so two weeks working hours are 70 (35 hours*2 weeks).
Hourly rate of pay = $906.61 / 70 hours
= $12.95
Therefore, hourly rate of pay is $12.95.
b)
Hourly overhead rate = $12.95 * 1.5 times
= $19.43
Overtime pay = $1,023.17 - $906.61
= $116.56
Number of overtime hours = $116.56/$19.43
= 6 hours
Therefore, number of overtime hours are 6.
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