FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Compute Keegan Jordan's earnings using the three methods described above. Assume the rate for Job A is $17.85 per hour and $19.95 per hour for Job B. Of the 44 hours worked during the week, 22 hours were completed for Job A and 22 hours complete for Job B.

Higher Rate for Overtime Hours

Regular Hours, Job A fill in the blank 5cd3d70a5fc9071_1 Hourly Rate, Job A $fill in the blank 5cd3d70a5fc9071_2 Regular Total Pay, Job A $ fill in the blank 5cd3d70a5fc9071_3
Regular Hours, Job B fill in the blank 5cd3d70a5fc9071_4 Hourly Rate, Job B fill in the blank 5cd3d70a5fc9071_5 Regular Total Pay, Job B   fill in the blank 5cd3d70a5fc9071_6
Overtime Hours fill in the blank 5cd3d70a5fc9071_7 Overtime Rate fill in the blank 5cd3d70a5fc9071_8 Overtime Total Pay   fill in the blank 5cd3d70a5fc9071_9
Total Gross Earnings $ fill in the blank 5cd3d70a5fc9071_10

Based on Actual Hours Worked

Regular Hours, Job A fill in the blank 5cd3d70a5fc9071_11 Hourly Rate, Job A $fill in the blank 5cd3d70a5fc9071_12 Regular Total Pay, Job A $ fill in the blank 5cd3d70a5fc9071_13
Regular Hours, Job B fill in the blank 5cd3d70a5fc9071_14 Hourly Rate, Job B fill in the blank 5cd3d70a5fc9071_15 Regular Total Pay, Job B   fill in the blank 5cd3d70a5fc9071_16
Overtime Hours fill in the blank 5cd3d70a5fc9071_17 Overtime Rate fill in the blank 5cd3d70a5fc9071_18 Overtime Total Pay   fill in the blank 5cd3d70a5fc9071_19
Total Gross Earnings $ fill in the blank 5cd3d70a5fc9071_20

 

Rate after 40th Hour

In this scenario, again Keegan worked a total of 44 hours, but the overtime hour(s) can be specifically attributed to Job B.

Regular Hours, Job A fill in the blank 5cd3d70a5fc9071_21 Hourly Rate, Job A $fill in the blank 5cd3d70a5fc9071_22 Regular Total Pay, Job A $ fill in the blank 5cd3d70a5fc9071_23
Regular Hours, Job B fill in the blank 5cd3d70a5fc9071_24 Hourly Rate, Job B fill in the blank 5cd3d70a5fc9071_25 Regular Total Pay, Job B   fill in the blank 5cd3d70a5fc9071_26
Overtime Hours fill in the blank 5cd3d70a5fc9071_27 Overtime Rate fill in the blank 5cd3d70a5fc9071_28 Overtime Total Pay   fill in the blank 5cd3d70a5fc9071_29
Total Gross Earnings $ fill in the blank 5cd3d70a5fc9071_30

 

The Extra Mile ?

To use one of the computations outlined above, the hourly rate must be during the same 

 

.

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