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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

COMPUTING WEEKLY GROSS PAY Ryan Lawrence's regular hourly rate is $15. He receives 11½ times the regular rate for any hours worked over 40 a week and double the rate for work on Sunday. During the past week, Lawrence worked 8 hours each day Monday through Thursday, 10 hours on Friday, and 5 hours on Sunday. Compute Lawrence's gross pay for the past week.

To determine

Compute the Person L’s gross pay for the past week.

Explanation

Gross pay:

Gross pay is a payment made to an employee for completion of work allocated by the company. Gross pay is computed by using normal hours worked by the employee with hourly wages rate.

Compute the Person L’s gross pay for the past week.

Particulars

Hours

(A)

Rate

(B)

Amount in $

(A×B)

Regular hours 40$15 $600
Time-and -a half overtime(1) 2(2) $22.50 45
Double-time overtime5(3) $30 150
Gross pay  795

(Table 1)

Therefore, the Person L’s gross pay for the past week is $795.

Working Notes:

(1) Calculate the hours for the time- and-a half overtime:

Total  hours for the time- and- a half overtime}=(Total number of hours worked on friday) (Total number of hours worked from Monday through Thursday

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