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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
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BuyFindarrow_forward

College Accounting, Chapters 1-27

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

COMPUTING OVERTI ME RATE OF PAY AND GROSS WEEKLY PAY Rebecca Huang receives a regular salary of $2,600 a month and is paid 1½ times the regular hourly rate for hours worked in excess of 40 per week.

(a) Calculate Huang’s overtime rate of pay.

(b) Calculate Huang’s total gross weekly pay if she works 45 hours during the week.

(a)

To determine

Calculate Person H’s overtime rate of pay.

Explanation

Calculate H’s overtime rate of pay.

Total rate of overtime=Regular hourly rate ×(1.5 times increase in for hours worked over 40 a week)=$15(3)×1.5=$22.50

Therefore, the overtime rate of pay is $22.50.

Working Notes:

(1) Calculate the amount of annual pay:

Amount of annual  pay = Regular salary for a month × 12 months = $2,600×12<

2.

To determine

Calculate Person H’s total gross weekly pay if Person H works for 45 hours during the week.

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