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 . • $15/hour for producing at least 3,500 units . All employees are paid an overtime wage rate that is 1.5 times their respective regular wage rates NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation 1: Juliette Franks worked 47 hours and produced 3,664 units. Gross Pay=$

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 . • $15/hour for producing at least 3,500 units . All employees are paid an overtime wage rate that is 1.5 times their respective regular wage rates NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation 1: Juliette Franks worked 47 hours and produced 3,664 units. Gross Pay=$

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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