ure https 4 Quiz Help Save Exit Libby is an hourly employee

ure | https/ 4 Quiz Help Save& Exit Libby is an hourly employee who earns $14.32hour. She is paid overtime only for hours worked past 40 in one week. During a weekly pay period, she worked the following hours: Monday 25 Thursday 9 Friday pays Libby the greater amount? (Do not rou What is the difference between her pay using the quarter-hour and the hundredth-hour methods? Which method interim calculations. Round final answer to two decimal places.) Multiple Choice $2.86

Solution

1. Quarter hour method

Under quarter hour method, the total time of work is rounded off to the nearest quarter of actual hours worked. Therefore, in the given case, hours worked will be as follows:

Total Hours worked in week = 40.5 hours

Total Pay of Libby as per quarter method = (40 hours x 14.32) + (30 min x 14.32) = $579.96

2. Hundredth hours method

Under Hundredth hour method, actual time is rounded off to the nearest hundredth of a minute by using the hundredth minute chart.

Therefore, in the given case, hours worked will be as follows:

Total Hours worked in week = 40.64 hours

As per chart, 0.64 falls in 38.5th minute of time. Therefore, rounded time is 40 hours & 38.5 minutes

Total Pay using hundredth hour method = (40 hours x 14.32) + (38.5 min / 60 min x 14.32) = $581.98

Difference is $2.02 hundredth hour method.

Day	Actual	Rounded quarter
Monday	8 hours 47 min	8 hours 45 minutes
Tuesday	8 hours 22 min	8 hours 15 min
Wednesday	6 hous 25 min	6 hours 30 min
Thursday	9 hours 6 min	9 hours
Friday	7 hours 58 min	8 hours