PSc 2-1: Identify Pay Periods & Evaluate Workweeks Examine each of the following independent circumstances and identify the type of pay period (weekly, biweekly, semimonthly, or monthly) being utilized. Then indicate whether the specified workweek is FLSA compliant or noncompliant.   Question 1: Fredrick's Furniture's most recent pay period ended on Wednesday, 9/15/2021, with paychecks printed and distributed one week later. The subsequent pay period ended on Thursday, 9/30/2021. The employer's two most recent work weeks (both of which began at 12:00 a.m. and ended at 11:59 p.m.) ran from Wednesday, 9/16, through Wednesday, 9/22, and Thursday, 9/23, through Thursday, 9/30. Type of Pay Period? A. Weekly B. Biweekly C. Semimonthly D. Monthly    Indicate whether the specified workweek is FLSA compliant or noncompliant. A. Compliant B. Noncompliant

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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PSc 2-1: Identify Pay Periods & Evaluate Workweeks

Examine each of the following independent circumstances and identify the type of pay period (weekly, biweekly, semimonthly, or monthly) being utilized. Then indicate whether the specified workweek is FLSA compliant or noncompliant.

 

Question 1:

Fredrick's Furniture's most recent pay period ended on Wednesday, 9/15/2021, with paychecks printed and distributed one week later. The subsequent pay period ended on Thursday, 9/30/2021. The employer's two most recent work weeks (both of which began at 12:00 a.m. and ended at 11:59 p.m.) ran from Wednesday, 9/16, through Wednesday, 9/22, and Thursday, 9/23, through Thursday, 9/30.

Type of Pay Period?

A. Weekly

B. Biweekly

C. Semimonthly

D. Monthly

 

 Indicate whether the specified workweek is FLSA compliant or noncompliant.

A. Compliant

B. Noncompliant

 

 Question 2:

Capital Tile recently changed its pay period such that it now runs from Friday through Thursday each week. The workweek also begins on Friday; however it starts at 8:00 a.m. and runs through the following Friday at 7:59 a.m.

Type of Pay Period?

A. Weekly

B. Biweekly

C. Semimonthly

D. Monthly

 

 Indicate whether the specified workweek is FLSA compliant or noncompliant.

A. Compliant

B. Noncompliant

 

 Question 3:

Atlantic Mechanical compensates its employees 24 times each year. During the summer months, its workweek begins on Friday at 12:00 a.m. and runs through Thursday at 11:59 p.m. During all other months (September through May), its workweek begins on Monday at 12:00 a.m. and runs through Sunday at 11:59 p.m.

Type of Pay Period?

A. Weekly

B. Biweekly

C. Semimonthly

D. Monthly

 

 Indicate whether the specified workweek is FLSA compliant or noncompliant.

A. Compliant

B. Noncompliant

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