\" Determine the gross pay for each employee isted below. When necessary, round

Question

" Determine the gross pay for each employee isted below. When necessary, round ietermediate calculations and the final answer to the nearest cent a. Clay Jones is paid time-and-a half for all hours over 40. He worked 50 hours during the week, His regular pay rate is $16.40 per hour b. Mary James worked 50 hours during the week She is entieed to time-and a halt for all hours in excess of 40 per week. Her regular pay rabe is 28.80 per c. Lori Terry is paid a commission of 5 percent of her sales, which amounted to $28,370.00 d. Nicole Smith's yearly salary is s89.440.00. During the week, Smith worked 44 hours, and she teeted to tmead·ha"forhan over 40

Explanation / Answer

a) Rate for hours worked over 40 hours in a week = $16.40*1.5 = $24.6

Gross pay to Clay = (40*$16.40) + (10*$24.60) = $902

b) Rate for hours worked over 40 hours in a week = $28.80*1.5 = $24.6

Gross pay to Mary = (40*$28.80) + (10*$43.20) = $1,584

c) Gross pay to Lori = $28,370 * 5% = $1,418.5

d) Total number of working hours in a year = 40 hours * 52 weeks = 2,080 hours

Standard rate per hour based on annual salary = $89,440 / 2,080 = $43

Rate for hours worked over 40 hours in a week = $43*1.5 = $64.5

Gross pay to Nicole = (40*$43) + (4*$64.5) = $1,978

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