Note: In this chapter and in all succeeding work throughout the course, unless i

Question

Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, calculate hourly rates and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the over-time rate). 2. If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 × 12)/52 = $421.615 rounded to $421.62 Hourly rate $421.62/40 = $10.540 rounded to $10.54 O.T. rate $10.54 × 1.5 = $15.81 Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. Example 2-6 John Dilcher is paid an hourly rate of $18.50 per hour, and he worked 49 hours this week. His gross pay is: 40 hours × $18.50 = $740.00 9 hours × $27.75 ($18.50 × 1.5) = 249.75 Total gross pay = $989.75 Jamie Kerr is an hourly employee of Noonan Company located in Los Angeles. This week, Kerr had to travel to the company's regional office in Santa Fe. He left Sunday at noon and arrived in Santa Fe at 3:30 P.M. During the week, he worked his normal 40 hours in the Santa Fe office (Monday through Friday-9 A.M. to 5 P.M.). In addition, he attended the company's 3½-hour work training session on Wednesday evening. Kerr's hourly rate of pay is $16.90 per hour. Round the interim computations to two decimal places and use the rounded answers in subsequent computations. Round the final answers to the nearest cent. a. Kerr's overtime earnings for the week are $ b. Kerr's total earnings for the week are $

Explanation / Answer

a. Kerr's overtime earnings for the week are $ 177.45

b. Kerr's total earnings for the week are $ 853.45

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