FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Mr Smith's annual salary is $45,000. His regular workweek consists of four 10-hour workdays. He is eligible for overtime at one and a half times worked in excess of 10 hours per day or 40 hours per week. Determine his gross earnings in a pay period if he is paid semimonthly, if he is paid biweekly, if he works 6 hours of overtime in a biweekly pay period.arrow_forwardCasey Na's average workweek during the first quarter of the year (13 weeks) was 43 hours. As part of his company's perfect attendance program, he earned a bonus of $975. Determine the extra overtime pay due Na for the first quarter. Note: For each calculation, round to 2 decimal places before continuing to next computation. At next step, round to 2 decimal places. And then, round your final answer to the nearest cent. Extra overtime pay $arrow_forwardGates is paid a semimonthly salary of $900.00. Overtime is paid forhours beyond 40 in each workweek. One week, Gates works 63⁄4 hoursovertime. Gates’ pay for this semimonthly pay period isarrow_forward
- A man worked 47 hours in one week. His regular pay was $7.80 per hour with time and a half for overtime. Find his gross earnings for the week.arrow_forwardPower is a contract worker. His basic pay is calculated at 40 hours at a normal rate of R50 per hour. In certain week, he worked 40 hours at normal rate. He then worked 13 hours overtime at 1,5 rate of the normal working hours. On Sunday and public holidays, he worked 7 hours at a rate of 2 times the normal rate. Calculate his gross pay. And calculate his net pay if the overtime and abnormal overtime rates remain the same per hour but Power worked for a four week month and that R1200 medical aid contribution is deducted.arrow_forwardBrendan is an hourly worker. During a week pay period, he worked the following hours and minutes: Days Hours minutes Monday 8 45 Tuesday 7 52 Wedbesday 8 0 Thursday 9 36 Friday 8 24 Usig the quarterly-hour method, how many total hours dd Brandon work tht week?arrow_forward
- An employee whose regular hourly rate is $12 and whose overtime rate is 1.5 times the regular rate worked 45 hours in one week. The employers should record an overtime premium of blank in the payroll register.arrow_forwardGlenda Rome earns $980 biweekly and works a standard 40-hour workweek. Compute Rome’s regular hourly and overtime rates. Select one: a. $24.50 and $18.38 b. $12.25 and $18.38 c. $12.25 and $36.75 d. $24.50 and $36.75arrow_forwardTony is a salaried, non-exempt employee, who earns $40,200 for a standard 40 workweeks. During a biweekly pay period, he worked 2.0 hours overtime. What is his overtime hourly rate?arrow_forward
- Calculate Sam’s gross pay (he is entitled to time-and-a-half for overtime hours worked. Monday 9 1/4 Tuesday 9 1/4 Wednesday 10 1/2 Thursday 8 1/2 Friday 11 1/2 Total Hours: Rate per Hour: $8 Gross pay:arrow_forwardDennis Murphy is a salaried, nonexempt administrative assistant for Dionti Investments and is paid semimonthly. He is married filing joint with five dependents under 17. His annual salary is $91,000, and his standard workweek is 37.5 hours. During the pay period, he worked 10 hours overtime. Find the hourly rate, overtime rate, and the number of regular hours and overtime hours.arrow_forwardFall is paid a biweekly salary of $937.50. Overtime is paid for hoursbeyond 40 in each workweek. One week, Fall works 3 hours overtime.Fall’s pay for this biweekly pay period isarrow_forward
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