FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Each of the following workers is a piece-rate worker at Golden Boats in Connecticut. If the employees have a standard 40-hour
workweek, what is their effective hourly wage? Based on the state's minimum wage in Connecticut, calculate each employee's
minimum weekly pay. What is the difference the employer must pay between the calculated gross pay and the calculated state's
minimum pay if any? Use Table 3-1. (Reminder: Divide gross pay by 40 hours to determine the hourly wage.)
Note: Do not round intermediate calculations. Round your final answers to 2 decimal places.
Difference to
PCR
Worker
Р
Number
of Items
31 boat hulls
Rate
per Item
$ 31.00
Gross
Pay
Gross pay divided by 40
hours
Minimum
Pay
Be Paid by
the Employer
per hour
Q
154 seat covers
$ 10.27
per hour
16 steering mechanisms
$ 25.60
per hour
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Transcribed Image Text:Required: Each of the following workers is a piece-rate worker at Golden Boats in Connecticut. If the employees have a standard 40-hour workweek, what is their effective hourly wage? Based on the state's minimum wage in Connecticut, calculate each employee's minimum weekly pay. What is the difference the employer must pay between the calculated gross pay and the calculated state's minimum pay if any? Use Table 3-1. (Reminder: Divide gross pay by 40 hours to determine the hourly wage.) Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Difference to PCR Worker Р Number of Items 31 boat hulls Rate per Item $ 31.00 Gross Pay Gross pay divided by 40 hours Minimum Pay Be Paid by the Employer per hour Q 154 seat covers $ 10.27 per hour 16 steering mechanisms $ 25.60 per hour
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