Question

In: Accounting

2:Ronald McHenry earns a biweekly wage of $2,100. During the most recent week, he worked 48...

2:Ronald McHenry earns a biweekly wage of $2,100. During the most recent week, he worked 48 hours.

Gross Pay = $

3:Frank Wayne earns an annual salary of $77,000. During the most recent week, he worked 54 hours.

Gross Pay = $

4:Michelle Connolly earns a monthly salary of $4,700. During the most recent week, she worked 42 hours.

Gross Pay = $

5:Howie Gillette earns a semimonthly salary of $1,900. During the most recent week, he worked 41 hours.

Gross Pay = $

Expert Solution

For all employees the overtime rate is 1.5 times the normal rate. Salaried employees are normally exempt from overtime. but federal laws require that low-paid salaried employees shall be paid overtime. For this purpose, all employees whose salary is less than $455 per week, shall be paid overtime.

In the given question, no salaried employee is earnings a salary of less than 4455 per week. Hence no one is eligible for overtime salary., except Ronald McHenry who is be being paid wages.

2. In the case of Ronald , he is earning a biweekly wage of $2,100.Normal hours of work per week are 40. Hence the $2,100 is for $80 hours.

Hourly wage rate = $21,00 / 80 = $26.25

Actual hors worked = 48

His normal pay = $40 x $26.25 = $1,050.

Overtime pay = 8 x $26.25 x 1.5 = $315.00

Gross pay for the week = $1,365.00

3. Frank Wayne:

Annual salary = $77,000.

Weekly salary = $77,000 / 52 = $1,480.77

Gross Pay = $1,480.77

4.Michelle Connoly

Monthly Salary = $4,700.

Weekly salary = $4,700 x 12 / 52 = $1,480.77

Gross Pay = $1,084.62

5. Howie Gillette

Semimonthly salary = $1,900

Weekly salary = 1,900 x 24 / 52 = $876.92

Gross Pay = $876.92

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