Answered: Friday, 8 hours. The employer pays…

Friday, 8 hours. The employer pays overtime for all time w orked according to the (a) quarter-hour method and (b) the arter-hour or hundredth-hour? (Do not round intermediat

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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Question

Brian Packer worked the following schedule: Monday, 9 hours; Tuesday, 7 hours 34 minutes; Wednesday, 8 hours 23 minutes;
Thursday, 8 hours 16 minutes; Friday, 8 hours. The employer pays overtime for all time worked in excess of 40 hours per week.
Required:
Determine Brian's total time worked according to the (a) quarter-hour method and (b) the hundredth-hour method. Which is the more
favorable method for Brian, quarter-hour or hundredth-hour? (Do not round intermediate calculations. Round your final answers to 2
decimal places.)
Brian Packer
Quarter-Hour Time
hours
Hundredth-Hour Time More Favorable Method
hours

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