PSc 25 Determine Hourly Regular and Overtime Wage Rates Dete

PSc 2-5 Determine Hourly Regular and Overtime Wage Rates

Determine both the regular and overtime wage rates for each of the following employees. All are paid an overtime wage rate 1.5 times their respective regular wage rates.

NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.

1: Alice Rhoades earns a weekly wage of $1,200. During the most recent week, she worked 48 hours.

Regular Wage Rate = $ 30 Overtime Wage Rate = $ 45

2: Hank Long earns a biweekly wage of $3,400. During the most recent week, she worked 45 hours.

Regular Wage Rate = $ Overtime Wage Rate = $

3: Barry Adams earns an annual salary of $80,000. During the most recent week, she worked 59 hours.

Regular Wage Rate = $ Overtime Wage Rate = $

4: Sue Martin earns a monthly salary of $5,500. During the most recent week, she worked 41 hours.

Regular Wage Rate = $ Overtime Wage Rate = $

5: Gary McKay earns a semimonthly salary of $2,200. During the most recent week, he worked 48 hours.

Regular Wage Rate = $ Overtime Wage Rate = $

Solution

2 Regular Wages rate for Hank $37.78 Overtime Wages rate for Hank $56.67 Working Note: Biweekly wages $3,400.00 No. of Days in a Biwek 14 day No. of Hour Worked in one week 45 Hour No. of Hour Worked 2 week 90 Hourly rate $37.78 (Total biweekly wages/No. of Hour worked in a biweek), 3400/90 Overtimeb Wages Rate $56.67 ( 1.5* Nomal Hourly rate,), 37.78*1.50 3 Regular Wages rate for Barry Adams $26.08 Overtime Wages rate for Barry Adams $39.11 Working Note: Annual Salary $80,000.00 No. of week in a year 52 week No. of Hour Worked in one week 59 Hour No. of Hour Worked in 52 week 3068 Hour ( No. of Hour in Week * No. of week P.a. Hourly rate $26.08 (Annual wages/No. of Hour worked in a 52 week), 80000/3068 Overtimeb Wages Rate $39.11 ( 1.5* Nomal Hourly rate,), 26.08*1.50 4 Regular Wages rate for Sue Martin $33.54 Overtime Wages rate for Sue Martin $50.30 Working Note: Monthly Salary $5,500.00 No. of week in a month 4 week No. of Hour Worked in one week 41Hour No. of Hour Worked in 4 week 164 Hour ( No. of Hour in Week * No. of week P.a. Hourly rate $33.54 (Annual wages/No. of Hour worked in a 4 week), 5500/164 Overtimeb Wages Rate $50.30 ( 1.5* Nomal Hourly rate,), 33.54*1.50 5 Regular Wages rate for Gary Macy $22.92 Overtime Wages rate for Sue Martin $34.38 Working Note: Semi Monthly Salary $2,200.00 No. of week in Semi month 2 week No. of Hour Worked in week 48 Hour No. of Hour Worked in 2week 96 Hour ( No. of Hour in Week * No. of week P.a. Hourly rate $22.92 (Annual wages/No. of Hour worked in a 2 week), 2200/96 Overtimeb Wages Rate $34.38 ( 1.5* Nomal Hourly rate,), 22.92*1.50