Complete the following table (assume the overtime for each employee is a time-and-a-half rate after 40 hours): (Do ne Intermediate calculations. Round your "overtime rate" and "gross earnings" to the nearest cent.) Total Total Gross regular hours overtime Regular Employee MTW Th F Sa hours rate Overtime rate earnings Ryan 12 8 10 8 6 3 40 $7.80

Complete the following table (assume the overtime for each employee is a time-and-a-half rate after 40 hours): (Do ne Intermediate calculations. Round your "overtime rate" and "gross earnings" to the nearest cent.) Total Total Gross regular hours overtime Regular Employee MTW Th F Sa hours rate Overtime rate earnings Ryan 12 8 10 8 6 3 40 $7.80

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. The data below pertains to the earnings of Peter Castro for the week ended June 30,2020. Hours and rate Earnings to date | 42 hours worked at P80 an hour P 28.00 150% of the regular rate for hours worked in excess of 40 hours. Overtime rate Withholding tax SSS contributions PHIC contribution Pag-ibig contribution 3% of gross earnings 2% of gross earnings 1% of gross earnings | 1% of gross earnings What is the net pay of Peter Castro for the week?
Choose the best definition of gross pay A. The number of hours over 40 that are worked in a week. B. A fixed amount of wages paid, usually on a yearly basis, regardless of how many hours are worked. C. The amount of money earned for a specific amount of time before any deductions are made.
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A nonexempt, salaried worker who received $40,000 in annual compensation for a 35-hour standard workweek has an overtime rate of Note: Do not round intermediate calculations. Round the final answer to the nearest cent. Multiple Choice $25.49 $30.38 O$32.97 $28.55
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