Your monthly salary is $4,160 and your pay period changed to a bi-weekly pay. Youwork 40 hours per week and are paid 1.5 times (one and a half) your hourlywage forovertime.a. Find your new bi-weekly pay.Round to the nearest centb. Calculate your hourly rate of pay for your standard work week andhourly rate.your overtimeStandard hourly rate:Overtime hourly rate:Round to the nearest centc. If you worked 43 hours one week and 47 hours the next week, whatwould your totalpay be in that bi-weekly pay period?Round to the nearestcent

Payroll accounting is the process of accounting through which all transactions related to employees…

Answered: Your monthly salary is $4,160 and your…

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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Mr Smith's annual salary is $45,000. His regular workweek consists of four 10-hour workdays. He is eligible for overtime at one and a half times worked in excess of 10 hours per day or 40 hours per week. Determine his gross earnings in a pay period if he is paid semimonthly, if he is paid biweekly, if he works 6 hours of overtime in a biweekly pay period.
Abel works a 371⁄2-hour week at $10.75 an hour. Overtime hours arepaid at 11⁄2 times the regular rate. Abel works 6 hours overtime during one week.(a) Abel’s regular weekly earnings are $(b) Abel’s overtime rate is $(c) Abel’s weekly gross earnings are $
Calculate Sam's gross pay. (He is entitled to time-and-a-half) M T W Th F Total Hours Rate Per Hour Gross Pay 9 1/4 9 1/4 10 1/2 8 1/2 11 1/2 $8.00
A regular work week is 40 hours over. Overtime pay is time and one-half. Terry is a word-processor operator. He makes $11.50 an hour. Determine his gross for a week if he worked 52 hours.
Casey Na's average workweek during the first quarter of the year (13 weeks) was 43 hours. As part of his company's perfect attendance program, he earned a bonus of $975. Determine the extra overtime pay due Na for the first quarter. Note: For each calculation, round to 2 decimal places before continuing to next computation. At next step, round to 2 decimal places. And then, round your final answer to the nearest cent. Extra overtime pay $
A man worked 47 hours in one week. His regular pay was $7.80 per hour with time and a half for overtime. Find his gross earnings for the week.
Given the following information, determine the burdened hourly wage rate for an equipment operator. Assume the equipment operators take full advantage of the retirement benefit. • Wage rate-$36.25 per hour • Hours worked-50 hours per week for 40 weeks and 40 hours per week for nine weeks • Vacation, holidays, and sick leave-three weeks at 40 hours per week • Overtime-time-and-a-half for any hours over 40 per week • Gas allowance-$100 per month • Annual bonus-$750 • Social security-6.2 percent on the first S113,700 of wages • Medicare-1.45 percent of all wages FUTA-0.6 percent on the first $7,000 of wages • SUTA-2.5 percent on the first $22,000 of wages • Worker's compensation insurance-S9.27 per S100.00 of wages • General liability insurance-0.65 percent of wages • Health insurance (company's portion)-$385 per month per employee • Retirement-S0.75 per $1.00 contributed by the employee on 6 percent of the employee's wages
This is Salary calculation
Power is a contract worker. His basic pay is calculated at 40 hours at a normal rate of R50 per hour. In certain week, he worked 40 hours at normal rate. He then worked 13 hours overtime at 1,5 rate of the normal working hours. On Sunday and public holidays, he worked 7 hours at a rate of 2 times the normal rate. Calculate his gross pay. And calculate his net pay if the overtime and abnormal overtime rates remain the same per hour but Power worked for a four week month and that R1200 medical aid contribution is deducted.
Suppose that you charged $8430 on a credit card to relocate for your first job. When you realized that the interest rate for the unpaid balance was 27% compounded monthly, he decided not to charge any more on that account. You want to have this account paid off by the end of 3 years, so you arrange to have automatic payments of equal amount sent at the end of each month.(a) What monthly payment must you make to have the account paid off by the end of 3 years? (b) How much total interest will you have paid?
Brendan is an hourly worker. During a week pay period, he worked the following hours and minutes: Days Hours minutes Monday 8 45 Tuesday 7 52 Wedbesday 8 0 Thursday 9 36 Friday 8 24 Usig the quarterly-hour method, how many total hours dd Brandon work tht week?
18. An employee working under a bonus scheme saved 4 hours in a job for which the standard time is 32 hours. Calculate the rate per hour worked and wages payable for the time taken under the following aternative schemes. (Award rate $. 2 per hour). (i) Employee receives an increase in the hourly rate based on the percentage that the time saved bears to the time set. (ii) A bonus of 10 per cent on award rate is payable when standard time (namely. 100 per cent efficiency) is achieved plus a further bonus of 1 per cent on award rate for each 1 per cent in excess of that 100 per cent efficiency.

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