Kyle Forman worked 47 hours during the week for Erickson Company at two different jobs. His...
Kyle Forman worked 47 hours during the week for Erickson Company at two different jobs. His pay rate was $14.00 for the first 40 hours, and his pay rate was $11.80 for the other 7 hours.
Round your overtime rate and other interim computations to two decimal places and use the rounded amount in subsequent computations. Round the final answers to the nearest cent.
Determine his gross pay for that week if the company uses the one-half average rate method.
a. Gross
pay
$
b. If
prior agreement existed that overtime would be paid at the rate for
the job performed after the 40th hour, the gross pay
would be
$683.90
Feedback
a.
One-half average rate method is calculated by taking the total
earnings for both jobs, dividing by the total hours worked, then
taking one-half of this rate and multiplying by the overtime
hours.
b. Use overtime rate based on the rate for the job
performed after the 40th hour.
Homework Answers
a. Gross pay: $690.48
| Total earnings [(40 x $14) + (7 x $11.80)] | 642.6 |
| Divide by Total hours worked | 47 |
| 13.67 | |
| Overtime (7 x $13.67/2) | 47.88 |
| Gross pay ($642.60 + $47.88) | 690.48 |
Add Answer to:
Kyle Forman worked 47
hours during the week for Erickson Company at two different jobs.
His...
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