FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
John Doe collects overtime pay when he works over 40 hours in a week. If he worked 45.5 hours at $22.50 per hour, determine his weekly gross earnings.
a.$1,535.63
b.$1,085.63
c. $1,000
d. $1,023.75
Expert Solution
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Step 1
John has worked for the following "overtime" hours:
= (45.5 - 40)
= 5.5 hours
However, his weekly Gross earnings will be calculated for total 45.5 hours.
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