Kyle Forman worked 4:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Kyle Forman worked 48 hours during the week for Erickson Company at two different jobs. His pay rate was $14.60 for the first 40 hours, and his pay rate
was $12.30 for the other 8 hours.
Round your overtime rate and other interim computations to two decimal places and use the rounded amount in subsequent computations.
Round the final answers to the nearest cent.
Determine his gross pay for that week if the company uses the one-half average rate method.
a. Gross pay
739.27 X
b. If prior agreement existed that overtime would be paid at the rate for the job performed after the 40th hour, the gross pay would be
731.60 ✔
Transcribed Image Text:Kyle Forman worked 48 hours during the week for Erickson Company at two different jobs. His pay rate was $14.60 for the first 40 hours, and his pay rate was $12.30 for the other 8 hours. Round your overtime rate and other interim computations to two decimal places and use the rounded amount in subsequent computations. Round the final answers to the nearest cent. Determine his gross pay for that week if the company uses the one-half average rate method. a. Gross pay 739.27 X b. If prior agreement existed that overtime would be paid at the rate for the job performed after the 40th hour, the gross pay would be 731.60 ✔
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