1 answer

This is the example given. (1) Higher Rate for Overtime Hours One could pay at the...

Question:

This is the example given.(1) Higher Rate for Overtime Hours One could pay at the higher rate for the overtime hours. Formula Hours Amount Hours WorkedGive It A Try Note: Round interim calculations to two decimal places. Use rounded amounts in subsequent computations. And, ro

(1) Higher Rate for Overtime Hours One could pay at the higher rate for the overtime hours. Formula Hours Amount Hours Worked, Job A: 30.0 30.0 hours x $14.75 $442.50 -266.70 Hours Worked, Job B: 14.0 14.0 hours x $19.05 ($19.058 x 0.5) $9.53, rounded Overtime hourly rate Overtime Hours: 4.0 $9.53 x 4.0 hours 38.12 $747.32 Gross Earnings a-the higher of the two
Give It A Try Note: Round interim calculations to two decimal places. Use rounded amounts in subsequent computations. And, round your final answer to two decimal places. Compute George Clooney's earnings using the three methods outlined above. Assume that he makes $16.25 per hour for Job A and $18.45 per hour for Job B. Of the 42 hours worked during the week, he completed 20 hours for Job A, switched and completed 22 hours for Job B. His overtime hours can be attributed to Job A. Higher Rate for Overtime Hours 20 Hourly Rate, Job A 22 Hourly Rate, Job B 16.25 Regular Total Pay, Job A $ 325 Regular Hours, Job A 18.45Regular Total Pay, Job B 405.90 Regular Hours, Job B 2 Hourly Rate, Overtime 8.12 X Overtime Total Pay 16.25 X Overtime Hours Total Gross Earnings $ 747.15 X

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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