Financial accounting questions Michael's regular hourly rate is $22. For overtimehours, he receives 1.5 times his regular rate ($22 ×1.5 = $33 per hour). During this bi-weekly payperiod, Michael worked 86 hours. Calculate hisgross earnings.

Step 1: Define Gross EarningsGross earnings are calculated by summing the regular pay and any…

Answered: Michael's regular hourly rate is $22.…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter3: Accounting For Labor

Section: Chapter Questions

Problem 15E

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Michael's regular hourly rate is $22. For overtime hours, he receives 1.5 times his regular rate ($22 × 1.5 = $33 per hour). During this bi-weekly pay period, Michael worked 86 hours. Calculate his gross earnings.