1. True or False : Annualizing monthly salary means diving the salary amount by 12 months...

1. True or False : Annualizing monthly salary means diving the salary amount by 12 months

2. True or False : If workers paid on a monthly basis earn overtime pay for work beyond a 40 hour week, hourly overtime rate is computed by converting the monthly salary rate to an hourly rate, and then multiply that rate by 1.5.?

3. Per FLSA, a tipped employee is one who receives ______ or more per month in tips. An employer can credit up to _______ of a tipped employee's minimum wage as coming from tips actually received.

Expert Solution

Answer:-

1. Annualizing monthly salary means diving the salary amount by 12 months- FALSE.

Annualising the monthly salary means multiplying the monthly salary by 12.

2. If workers paid on a monthly basis earn overtime pay for work beyond a 40 hour week, hourly overtime rate is computed by converting the monthly salary rate to an hourly rate, and then multiply that rate by 1.5.?- TRUE

The Fair Labor Standards Act states that employees who work more than 40 hours in a working week must be paid at a higher rate of minimum of 1.5 times the employee's regular pay rate.

3.Per FLSA, a tipped employee is one who receives $30 or more per month in tips. An employer can credit up to $5.12 per Hour of a tipped employee's minimum wage as coming from tips actually received.

A tipped employee means a person who is engaged in an occupation in which he receives more than $30 per month in tips. Under the Fair Labor Standards Act maximum tip credit that an employer can currently claim is $5.12 per hour (the minimum wages of $7.25/hour minus the minimum required cash wages of $2.13/hour).

ekkarill92 answered 2 years ago

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