Answers
Problem 2 Answer:
Elder's annual income = $2250*12 = $27000
Income per week = $27000/52 weeks = $519.23
Hourly Income = $519.23/40 = $ 12.98
Gross Pay for the week:
Salary = 519.23
Overtime = ($12.98*7 hours overtime * 1.5) = 136.29
Gross pay per week = $655.52
Problem 3 Answer:
Earnings for the production = 2,976 × $0.16 = $476.16
Hourly rate of Ides = $476.16/43 hours =$11.07
Computaion :
Piecework Earmings = $476.16
Overtime earnings= $11.07 × 0.5*3overtime hours = $16.62
Total of Piecework and ovetime earnings = $492.78
Problem 4 Answer:
The total earnings due Kerr this year:
Basic Annual salary = $25700
8% Commission on sales in excess of $900000 = ($965000-$900000)*0.08 = $5200
Total earnings = $25700+$5200= $30900
Problem 5 Answer:
Stacy Forvour earnings per workweek = $680
Earnings per hour = $680/46 hours = $14.78
Overtime earnings = ($14.78*0.5*6 overtime hours) = $44.34
Total Earnings per workweek = $680+$44.34 = $724.34
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