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PSc 2-9 Calculate Gross Pay Based on an Incentive Plan Calculate gross pay for each of the following employees of Replay Co. The company offers a regular wage rate of $7.90/hour to all employees. Under an incentive plan in place for all employees, this rate increases for any employee who can meet weekly production goals. The increased rates and corresponding thresholds that must be met are as follows: • $8.40/hour for producing at least 2,200 units • $11.75/hour for producing at least 2,600 units • $12.25/hour for producing at least 3,100 units • $15/hour for producing at least 3,500 units All employees are paid an overtime wage rate that is 1.5 times their respective regular wage rates. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Juliette Franks worked 47 hours and produced 3,664 units. Gross Pay = $ 2: Tracey Wilkins worked 43 hours and produced 2,518 units. Gross Pay = $ 3: Candace Baldwin worked 51 hours and produced 3,304 units. Gross Pay = $ 4: Henry Walker worked 44 hours and produced 2,097 units. Gross Pay = $

PSc 2-9 Calculate Gross Pay Based on an Incentive Plan Calculate gross pay for each of the following employees of Replay Co. The company offers a regular wage rate of $7.90/hour to all employees. Under an incentive plan in place for all employees, this rate increases for any employee who can meet weekly production goals. The increased rates and corresponding thresholds that must be met are as follows: • $8.40/hour for producing at least 2,200 units • $11.75/hour for producing at least 2,600 units • $12.25/hour for producing at least 3,100 units • $15/hour for producing at least 3,500 units All employees are paid an overtime wage rate that is 1.5 times their respective regular wage rates. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Juliette Franks worked 47 hours and produced 3,664 units. Gross Pay = $ 2: Tracey Wilkins worked 43 hours and produced 2,518 units. Gross Pay = $ 3: Candace Baldwin worked 51 hours and produced 3,304 units. Gross Pay = $ 4: Henry Walker worked 44 hours and produced 2,097 units. Gross Pay = $

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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PSc 2-9 Calculate Gross Pay Based on an Incentive Plan Calculate gross pay for each of the following employees of Replay Co. The company offers a regular wage rate of $7.90/hour to all employees. Under an incentive plan in place for all employees, this rate increases for any employee who can meet weekly production goals. The increased rates and corresponding thresholds that must be met are as follows: $8.40/hour for producing at least 2,200 units $11.75/hour for producing at least 2,600 units • $12.25/hour for producing at least 3,100 units • $15/hour for producing at least 3,500 units All employees are paid an overtime wage rate that is 1.5 times their respective regular wage rates. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Juliette Franks worked 47 hours and produced 3,664 units. Gross Pay = $ 2: Tracey Wilkins worked 43 hours and produced 2,518 units. Gross Pay = $ 3: Candace Baldwin worked 51 hours and produced 3,304 units. Gross Pay = $ 4: Henry Walker worked 44 hours and produced 2,097 units. Gross Pay = $
Transcribed Image Text:PSc 2-9 Calculate Gross Pay Based on an Incentive Plan Calculate gross pay for each of the following employees of Replay Co. The company offers a regular wage rate of $7.90/hour to all employees. Under an incentive plan in place for all employees, this rate increases for any employee who can meet weekly production goals. The increased rates and corresponding thresholds that must be met are as follows: $8.40/hour for producing at least 2,200 units $11.75/hour for producing at least 2,600 units • $12.25/hour for producing at least 3,100 units • $15/hour for producing at least 3,500 units All employees are paid an overtime wage rate that is 1.5 times their respective regular wage rates. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Juliette Franks worked 47 hours and produced 3,664 units. Gross Pay = $ 2: Tracey Wilkins worked 43 hours and produced 2,518 units. Gross Pay = $ 3: Candace Baldwin worked 51 hours and produced 3,304 units. Gross Pay = $ 4: Henry Walker worked 44 hours and produced 2,097 units. Gross Pay = $
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