Scott Jackie earns $20 per hour and earned a no lost-time accident bonus of $500. Scott...
Scott Jackie earns $20 per hour and earned a no lost-time accident bonus of $500. Scott worked 52 hours this week. Required: Calculate Scott’s regular pay, regular rate, overtime rate, overtime, and total earnings. Show all calculations and round all work to two decimal places.
Homework Answers
| Computation of Overtime Hours for the week | ||||
| Total Hours Worked in the week | 52.00 | |||
| Normal Working Hours in a week | 40.00 | |||
| Overtime Working Hours | 12.00 | |||
| Computation of Regular Pay | ||||
|
Normal Hours |
Hourly Rate |
Normal Pay |
||
| Normal Pay | 40.00 | $20.00 | $800.00 | |
| Add :Bonus | $500.00 | |||
| Regular Pay | $1,300.00 | |||
| Computation of Regular Rate | ||||
| Regular Rate = Regular Pay / Normal Working Hours | ||||
| Regular Rate ($ 1,300/40) | $32.50 | |||
| Computation of Overtime Rate and Overtime Pay | ||||
| Overtime Rate = Regular Rate * 1.5 | ||||
| Overtime Rate ($ 32.50 * 1.50) | $48.75 | |||
|
OT Hours |
Hourly Rate |
OT Pay |
||
| Overtime Pay | 12.00 | $48.75 | $585.00 | |
| Computation of Total Earnings | ||||
| Regular Pay | $1,300.00 | |||
| Overtime Pay | $585.00 | |||
| Total Earnings | $1,885.00 | |||
| Note - For calculating the overtime rate,the bonus earned would be added to | ||||
| the regular pay and total of regular pay and bonus would be divided by the | ||||
| normal working hours to calculate the regular rate.Overtime rate would be | ||||
| 1.50 times the regular rate thus calculated |
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