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. 1.Samuel Worthy earns both $8.10/hour and a 14% commission on all sales. During the most recent week, he worked 41 hours and made total sales of $12,000.
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. 1.Samuel Worthy earns both $8.10/hour and a 14% commission on all sales. During the most recent week, he worked 41 hours and made total sales of $12,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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.
1.Samuel Worthy earns both $8.10/hour and a 14% commission on all sales. During the most recent week, he worked 41 hours and made total sales of $12,000.
NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
Expert Solution
Step 1
Formula:
Gross pay = Wage amount + Sales commission.
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