Question

In: Accounting

Calculate gross pay for each of the following employees. All are paid an overtime wage rate...

Calculate gross pay for each of the following employees. All are paid an overtime wage rate that is 1.5 times their respective regular wage rates.

NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.

1:Anita Workman receives tips from customers as a standard component of her weekly pay. She is paid $2.60/hour by her employer and receives $291 in tips during the most recent 44-hour workweek.

Gross Pay = $

2:Cole Earnhardt receives tips from customers as a standard component of his weekly pay. He is paid 2.18/hour by his employer and receives $430 in tips during the most recent 43-hour workweek.

Gross Pay = $

3:Calista Flood receives tips from customers as a standard component of her weekly pay. She is paid $4.20/hour by her employer and receives $348 in tips during the most recent 34-hour workweek.

Gross Pay = $

4:Bethany Pugh receives tips from customers as a standard component of her weekly pay. She is paid $3.54/hour by her employer and receives $168 in tips during the most recent 52-hour workweek.

Gross Pay = $

Solutions

Expert Solution

Note : For all the scenarios, we have assumed a 40-hour normal work week and hence any hours worked above 40 hours is eligible for over-time pay.

Calculation of Gross Pay in all 4 cases :

S. No. Case Name Particulars Calculation Amount ($)
1 Anita Regular pay 2.6$*40 hours 104
Over-time pay 3.9$*4 hours 15.6
Tips NA 291
Gross Pay 410.6
S. No. Case Name Particulars Calculation Amount ($)
2 Cole Earnhardt Regular pay 2.18$*40 hours 87.2
Over-time pay 3.27$*3 hours 9.81
Tips NA 430
Gross Pay 527.01
S. No. Case Name Particulars Calculation Amount ($)
3 Calista Flood Regular pay 4.2$*34 hours 142.8
Over-time pay NA 0
Tips NA 348
Gross Pay 490.8
S. No. Case Name Particulars Calculation Amount ($)
4 Bethany Pugh Regular pay 3.54$*40 hours 141.6
Over-time pay 5.31$*12 hours 63.72
Tips NA 168
Gross Pay 373.32

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