Homework Answers
| Regular hours, Job A | 20 | Hourly Rate, Job A | $16.25 | Regular Total Pay, Job A | $325.00 |
| Regular hours, Job B | 22 | Hourly Rate, Job B | $18.45 | Regular Total Pay, Job B | $405.90 |
| Overtime Hours | 2 | Hourly Rate, Overtime | $9.23(refer note) | Overtime Total Pay | $18.45 |
| Total Gross Earnings | $749.35 | ||||
Note:
Higher of $16.25 and $18.45 is $18.45.
So, overtime rate = $18.45 x 0.5 = $9.225 = $9.23 (rounded)
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This is the example given.
(1) Higher Rate for Overtime Hours One could pay at the...
In cases where an employee is paid different rates for different jobs during the same workweek,...
In cases where an employee is paid different rates for different jobs during the same workweek, the employers can, at their option, calculate the overtime in one of three ways: Higher Rate for Overtime Hours, Based on Actual Hours Worked, or Rate after the 40th Hour. Using the hours and rates for Eli Employee, Example's son, his gross wages are computed below using the three different methods. Eli makes $14.75 per hour for Job A and $19.05 per hour for...
COMPUTING OVERTIME RATE OF PAY AND GROSS WEEKLY PAY Mike Fritz receives a regular salary of...
COMPUTING OVERTIME RATE OF PAY AND GROSS WEEKLY PAY Mike Fritz receives a regular salary of $3,250 a month and is paid 1½ times the regular hourly rate for hours worked in excess of 40 week. per (a) Calculate Fritz's overtime rate of pay. (Compute to the nearest half cent.) (b) Calculate Fritz's total gross weekly pay if he works 46 hours during the week.
• Stephen Curry, a manager at Oracle Arena, earns $745 for a fluctuating workweek. For overtime...
• Stephen Curry, a manager at Oracle Arena, earns $745 for a fluctuating workweek. For overtime work, one-half times the regular rate beyond the 40 hours is paid. 3 hours of overtime was worked. Fluctuating Hours Total Standard Pay $ Overtime Hours Rate $ Variable Overtime Pay Fluctuating Workweek Gross Earnings $ • Assume instead that Stephen's employer pays based on a 40-hour workweek. Again, weekly earning are $745 and 3 hours overtime were worked. Fixed Salary Hours Regular Total...
a) Calculate the Overtime Hours (Column F). The formula for Overtime Hours is based on each...
a) Calculate the Overtime Hours (Column F). The formula for
Overtime Hours is based on each employee’s Total Hours Worked and
is dependent on which department the employee works in. If the
Total Hours Worked (column D) is greater than the assigned hours
designated by the employee’s department (as listed in the table on
rows 24 and 25), then the Overtime Hours is the Total Hours Worked
minus the assigned hours. If the employee’ Total Hours Worked are
less than...
Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, calculate...
Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, calculate hourly rates and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate). 2. If the third decimal place is 5 or more, round to the next higher cent. 3....
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Some companies pay overtime for all time worked over 8 hours in a given day. Use...
Some companies pay overtime for all time worked over 8 hours in
a given day. Use this method to complete the payroll ledge below.
Overtime is paid at the time-and-a-half rate.
Use the Payroll ledger found there for this problem. Do not
write directly on the information below—put everything (including
the first line) into the Payroll Ledger.
Payroll Ledger Exercise Employee S M Hours Worked T W T FS Total Hours Reg. O.T. Pay Rate ($) Reg. O.T. Gross Earnings...
Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, calculate...
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 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....
fill in blanks HOURS Regular Pay: Overtime Pay: $9.90 per hour 1.5 x regular pay for hours over 40 Name: Bill Johnso...
fill in blanks
HOURS Regular Pay: Overtime Pay: $9.90 per hour 1.5 x regular pay for hours over 40 Name: Bill Johnson DAY DATE IN OUT IN OUT MON 15-Dec 11:00 3:00 4:00 TUES 16-Dec 11:15 3:00 4:00 7:00 WED 17-Dec 11:15 3:00 4:00 7:00 THUR 18-Dec 11:003:00 4:00 7:00 FRI 19-Dec 11:00 3:00 3:30 7:00 Total Hours Worked Hours Rate Amount Bill Johnson Regular Overtime Gross Earnings
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• Stephen Curry, a manager at Oracle Arena, earns $745 for a fluctuating workweek. For overtime work, one-half times the regular rate beyond the 40 hours is paid. 3 hours of overtime was worked. Fluctuating Hours Total Standard Pay $ Overtime Hours Rate $ Variable Overtime Pay Fluctuating Workweek Gross Earnings $ • Assume instead that Stephen's employer pays based on a 40-hour workweek. Again, weekly earning are $745 and 3 hours overtime were worked. Fixed Salary Hours Regular Total...
a) Calculate the Overtime Hours (Column F). The formula for
Overtime Hours is based on each employee’s Total Hours Worked and
is dependent on which department the employee works in. If the
Total Hours Worked (column D) is greater than the assigned hours
designated by the employee’s department (as listed in the table on
rows 24 and 25), then the Overtime Hours is the Total Hours Worked
minus the assigned hours. If the employee’ Total Hours Worked are
less than...
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 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....
Weekly rate ($1,827 x 12)/52-$421.615 rounded to $421.62 Hourly rate $421.62/40 $10.540 rounded to $10.54 OT. rate $10.54 x 1.5 $15.81 se the minimum hourly wage of $7,25 in solving these problems eand all that follow Example 2-7 Joanne French works a 40-hour week at S 12.40 an hour with overtime hours paid at 1 ½ times the regular rate Regular weekly earnings are The overtime rate is Ir French works 4 hours overtime, additional earnings for the 4 hours...
Some companies pay overtime for all time worked over 8 hours in
a given day. Use this method to complete the payroll ledge below.
Overtime is paid at the time-and-a-half rate.
Use the Payroll ledger found there for this problem. Do not
write directly on the information below—put everything (including
the first line) into the Payroll Ledger.
Payroll Ledger Exercise Employee S M Hours Worked T W T FS Total Hours Reg. O.T. Pay Rate ($) Reg. O.T. Gross Earnings...
fill in blanks
HOURS Regular Pay: Overtime Pay: $9.90 per hour 1.5 x regular pay for hours over 40 Name: Bill Johnson DAY DATE IN OUT IN OUT MON 15-Dec 11:00 3:00 4:00 TUES 16-Dec 11:15 3:00 4:00 7:00 WED 17-Dec 11:15 3:00 4:00 7:00 THUR 18-Dec 11:003:00 4:00 7:00 FRI 19-Dec 11:00 3:00 3:30 7:00 Total Hours Worked Hours Rate Amount Bill Johnson Regular Overtime Gross Earnings
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