Payroll Accounting 2017 2-15 A . LO 4 similar to Example 2-14 on page 2-24 heila

Question

Payroll Accounting 2017 2-15 A . LO 4 similar to Example 2-14 on page 2-24 heila Williams, a medical secretary, earns $2,575 monthly for a 35-hour week. For overtime work, she receives extra pay at the regular hourly rate up to 40 hours and time and one-half beyond 40 hours in any week. During one semimonthly pay riod, Williams worked 10 hours overtime. Only 2 hours of this overtime were beyond 40 hours in any one week. Compute: pe- a. The regular semimonthly earnings b. The overtime earnings.... c. The total earnings

Explanation / Answer

Amount in $ a The regular semi-monthly earnings 5594.5 As calculated below b The overtime earnings 809.27 =8*73.57+2*73.57*150% c The total earnings 6403.8 Total Translating weekly pay period into semi-monthly pay period 1 week   = 35 hours 1 week   = $2575 1 Hour   = $2575/35 73.57142857 52.14285714 week   pay    = 134267.8571 Divide above figure by 24 to arrive at semimonthly pay 5594.494048

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