Written Assignment #2-Vacation and overtime pay FOR 25 ASSIGNMENT POINTS........

Question

Written Assignment #2-Vacation and overtime pay

FOR 25 ASSIGNMENT POINTS...............Paul typically works 40 hours/week at $15/hour regular pay and receives four weeks of vacation. This week he worked 50 hours as his employer asked him to work Saturday to take care of the Christmas backlog. Determine the following:

1. The amount of vacation to be accrued.

2. The amount of overtime pay Paul would say he has earned.

3 The amount of pay Paul earned.

4. The amount of overtime pay we will determine Paul earned .

5. The account charged for the overtime we paid Paul

Explanation / Answer

1) Paul has 4 weeks of vacation

i.e 4 weeks x 40 hours each,=160 hours

Amount of vacation to be accrued = 160 hours x $ 15 / hour, = $ 2400 per year

4) As per Labor Laws any overtime ( above 40 hrs a week) has to be paid at one and half times of normal pay rate

So amount of overtime that had to be paid to Paul = 10 Hrs x $15 x 1.5 ,= 225

3) Total Pay of Paul will be

REgular pay = 40 hrs x $15 = $600

+ Overtime earned = 225

Total = $825

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