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Preethi is a salaried, nonexempt administrative assistant and is paid semimonthly. Preethi is married filing jointly with five dependents nder 17. Annual salary is $80,600 with a standard work week of 37.5 hours, and the employer will pay overtime for excess hours over 87.5. During the pay period, 10 hours of overtime were worked. Required: Compute the gross pay for the period ending August 18.

Preethi is a salaried, nonexempt administrative assistant and is paid semimonthly. Preethi is married filing jointly with five dependents nder 17. Annual salary is $80,600 with a standard work week of 37.5 hours, and the employer will pay overtime for excess hours over 87.5. During the pay period, 10 hours of overtime were worked. Required: Compute the gross pay for the period ending August 18.

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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Preethi is a salaried, nonexempt administrative assistant and is paid semimonthly. Preethi is married filing jointly with five dependents under 17. Annual salary is $80,600 with a standard work week of 37.5 hours, and the employer will pay overtime for excess hours over 37.5. During the pay period, 10 hours of overtime were worked. Required: Compute the gross pay for the period ending August 18. Note: Do not round intermediate computations. Round your final answers to 2 decimal places. Period Ended: 08/18/xxxx Name Filing Status Dependents Period Salary Hourly Rate Number of Regular Hours Number of Overtime Hours Regular Earnings Overtime Earnings Gross Earnings Preethi MJ 5<17 + 10.00
Transcribed Image Text:Preethi is a salaried, nonexempt administrative assistant and is paid semimonthly. Preethi is married filing jointly with five dependents under 17. Annual salary is $80,600 with a standard work week of 37.5 hours, and the employer will pay overtime for excess hours over 37.5. During the pay period, 10 hours of overtime were worked. Required: Compute the gross pay for the period ending August 18. Note: Do not round intermediate computations. Round your final answers to 2 decimal places. Period Ended: 08/18/xxxx Name Filing Status Dependents Period Salary Hourly Rate Number of Regular Hours Number of Overtime Hours Regular Earnings Overtime Earnings Gross Earnings Preethi MJ 5<17 + 10.00
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