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The wages and hours information for five employees of Somja Enterprises for the week ended April 7 is given below. Employees work a standard 40-hour workweek and are paid time and one-half for all hours over 40 in each workweek. a. For each employee, compute the regular earnings, overtime rate, overtime earnings, and total gross earnings. b. Compute the total gross earnings for all employees.

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PAYROLL ACCT., 2019 ED.(LL)-TEXT

19th Edition
BIEG
Publisher: CENGAGE L
ISBN: 9781337619783
Chapter 2, Problem 4PB
Textbook Problem
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The wages and hours information for five employees of Somja Enterprises for the week ended April 7 is given below. Employees work a standard 40-hour workweek and are paid time and one-half for all hours over 40 in each workweek.

  1. a. For each employee, compute the regular earnings, overtime rate, overtime earnings, and total gross earnings.
  2. b. Compute the total gross earnings for all employees.

Chapter 2, Problem 4PB, The wages and hours information for five employees of Somja Enterprises for the week ended April 7

a.

To determine

Calculate the regular earnings, overtime rate, overtime earnings, and total gross earnings for each employee.

Explanation of Solution

Regular earnings: Generally, employees in a firm work in pre-determined hours (40 hours) and get paid accordingly. The amount of earnings that is calculated based on predetermined hours is called as regular earnings of an employee.

Overtime Earnings: If an employee works more than the stipulated working hours (more than 40 hours) of the employment then, the employee is mandated to get paid one and a half times more than the normal working pay. This one and half times can be termed as overtime premium or earnings.

Gross Earnings: It is the amount of employee’s total earnings during a period. It includes fixed wage or salary plus overtime pay or any bonus or commission if applicable.

Calculate the regular earnings for each employee.

Employee

Hours

Worked

(a)

Regular hourly Wage Rate

(b)

Regular Earnings

(a×b)

Mr. H40$11.90$476
Mr. C40$14.20$568
Mr. K40$13.90$556
Mr. D40$10.70$428
Mr. J40$17.10$684

Table (1)

Calculate the overtime rate for each employee.

Employee

Overtime rate

(Regular hourly wage rate × 1.5)

Mr. H$17.85 ($11.90×1.5)
Mr. C$21.30 ($14.20×1.5)
Mr. K$20.85($13.90×1.5)
Mr. D$16.05($10.70×1.5)
Mr. J$25.65($17.10×1

b.

To determine

Calculate the total gross earnings for all employees.

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Chapter 2 Solutions

PAYROLL ACCT.,2019 ED.(LL)-TEXT
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