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Example 2-4 Alfred Sim is a tipped employee who normally works a 40-hour week and averages over $300 in tips each week. If his employer takes the maximum tip credit against the minimum wage ($5.12 per hour), in a week in which Sim worked 44 hours, the restaurant would pay him: 40 hours x $2.13 $85.20 4 hours x $5.76 23.04 Gross pay = $108.24 Gabrielle Pavon, a waitress at the Hole-in-the-Wall restaurant, worked 44 hours this week and collected over $500 in tips. The restaurant uses the full tip credit against the minimum wage and pays Pavon the minimum required for tipped employees. Determine her gross pay from the restaurant. Round all intermediate calculations and final answer to the nearest cent. a. Pay for the 40 hours b. Pay for the overtime hours 85.20

Example 2-4 Alfred Sim is a tipped employee who normally works a 40-hour week and averages over $300 in tips each week. If his employer takes the maximum tip credit against the minimum wage ($5.12 per hour), in a week in which Sim worked 44 hours, the restaurant would pay him: 40 hours x $2.13 $85.20 4 hours x $5.76 23.04 Gross pay = $108.24 Gabrielle Pavon, a waitress at the Hole-in-the-Wall restaurant, worked 44 hours this week and collected over $500 in tips. The restaurant uses the full tip credit against the minimum wage and pays Pavon the minimum required for tipped employees. Determine her gross pay from the restaurant. Round all intermediate calculations and final answer to the nearest cent. a. Pay for the 40 hours b. Pay for the overtime hours 85.20

FINANCIAL ACCOUNTING
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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Example 2-4 Alfred Sim is a tipped employee who normally works a 40-hour week and averages over $300 in tips each week. If his employer takes the maximum tip credit against the minimum wage ($5.12 per hour), in a week in which Sim worked 44 hours, the restaurant would pay him: 40 hours x $2.13 = $85.20 4 hours x $5.76 = Gross pay 23.04 $108.24 Gabrielle Pavon, a waitress at the Hole-in-the-Wall restaurant, worked 44 hours this week and collected over $500 in tips. The restaurant uses the full tip credit against the minimum wage and pays Pavon the minimum required for tipped employees. Determine her gross pay from the restaurant. Round all intermediate calculations and final answer to the nearest cent. 85.20 a. Pay for the 40 hours b. Pay for the overtime hours Previous Next >
Transcribed Image Text:Example 2-4 Alfred Sim is a tipped employee who normally works a 40-hour week and averages over $300 in tips each week. If his employer takes the maximum tip credit against the minimum wage ($5.12 per hour), in a week in which Sim worked 44 hours, the restaurant would pay him: 40 hours x $2.13 = $85.20 4 hours x $5.76 = Gross pay 23.04 $108.24 Gabrielle Pavon, a waitress at the Hole-in-the-Wall restaurant, worked 44 hours this week and collected over $500 in tips. The restaurant uses the full tip credit against the minimum wage and pays Pavon the minimum required for tipped employees. Determine her gross pay from the restaurant. Round all intermediate calculations and final answer to the nearest cent. 85.20 a. Pay for the 40 hours b. Pay for the overtime hours Previous Next >
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