Compute the following amounts.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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During the first week in November, Erin Mills worked 48.50 hours and produced 1,248 units under a piece-rate system. The regular piece rate is $0.36 a unit. Mills is paid over time according to the FLSA ruling for overtime work under a piece-rate system. Compute the following amounts.
Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent.
a. | The piecework earnings | $fill in the blank 1 | |
b. | The regular hourly rate | $fill in the blank 2 | |
The overtime hourly rate | $fill in the blank 3 | ||
c. | The overtime earnings | $fill in the blank 4 | |
d. | The total earnings | $fill in the blank 5 |
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