Question

In: Accounting

1. Let’s say an employee is paid $15 an hour and worked 36 hours in a...

1. Let’s say an employee is paid $15 an hour and worked 36 hours in a work week and you pay overtime at 1 1/2 times for all hours over 40. What is the regular pay for this employee? What is the overtime pay for this employee? What is the total gross pay for this employee? 2. Let’s say an employee is paid $15 an hour and worked 48 hours in a work week and you pay overtime at 1 1/2 times for all hours over 40. What is the regular pay for this employee? What is the overtime pay for this employee? What is the total gross pay for this employee? 3. Let’s say an employee is paid $20 an hour and worked 36 hours in a work week and you pay overtime at 2 times for all hours over 40. What is the regular pay for this employee? What is the overtime pay for this employee? What is the total gross pay for this employee? 4. Let’s say an employee is paid $20 an hour and worked 48 hours in a work week and you pay overtime at 2 times for all hours over 40. What is the regular pay for this employee? What is the overtime pay for this employee? What is the total gross pay for this employee? 5. Let’s say an employee earns $20 per hour and also earned perfect attendance bonus of $350. Bob worked 49 hours this week: What is the employee’s regular pay? What is the employee’s regular pay rate? What is the overtime rate? What is the employee’s overtime pay? What is the employee’s total earnings?

Solutions

Expert Solution

Question 1

A) Employee worked for 36 hours in the week at the wage rate of $ 15

36 hrs * $15 = $ 540

$540 is the regular pay for this employee

B) If employee worked for more than 40 hours he well get overtime

in the given case he worked just 36 hours. so, he did not get any overtime pay.

C) Gross Pay is $ 540

Question 2

A) In this case employees work for 48 hours in a week at the wage rate of $ 15

48hrs * $ 15 = $ 720

$ 720 is his regular pay

B) If employee is worked for more than 40 hours he get over time at the wage rate of 1 1/2 times of normal pay i.e., $15*1.5= $ 22.5

In this case he worked for more than 40 hours he get the overtime pay for full 48 hrs

The amout he get is 48 hours * $22.5 = $1080

Less: regular pay for 48 hours is $720

Over time pay for this emoloyee is $ 360

C) Total gross pay for the employee is 48 hours * $ 22.5 = $ 1080

Question 3

A) In this case employees work for 36 hours in a week at the wage rate of $ 20

36 hrs * $ 20 = $ 720

$ 720 is his regular pay

B) If employee worked for more than 40 hours he well get overtime

in the given case he worked just 36 hours. so, he did not get any overtime pay.

Over time pay for this emoloyee is $ 0

C) Total gross pay for the employee is 36 hours * $ 15 = $ 720

Question 4

A) In this case employees work for 48 hours in a week at the wage rate of $ 20

48hrs * $ 20 = $ 960

$ 960 is his regular pay

B) If employee is worked for more than 40 hours he get over time at the wage rate of 2 times of normal pay i.e., $20*2= $ 40

In this case he worked for more than 40 hours he get the overtime pay for full 48 hrs

The amout he get is 48 hours * $ 40 = $ 1920

Less: regular pay for 48 hours is $ 960

Over time pay for this emoloyee is $ 960

C) Total gross pay for the employee is 48 hours * $ 40 = $ 1920

Question 5

A) In this case employees work for 49 hours in a week at the wage rate of $ 20

49hrs*$ 20 = $980

$ 980 is his regular pay

B) Employee regular pay rate is $ 980/49 hrs= $20

C) over time rate is $ 980+$350 = $1330/49 hrs = $ 27.14286

D) ovetime pay is 49hrs * (27.14286-20)= $ 350

E) Employee total earnings

Regular Pay $980 + Bonus $350 = $ 1330


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