BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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hourly rate
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over work
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over due
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overtime pay
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Detailed explanation-1: -Overtime pay is calculated: Hourly pay rate x 1.5 x overtime hours worked. Here is an example of total pay for an employee who worked 42 hours in a workweek: Regular pay rate x 40 hours = Regular pay, plus. Regular pay rate x 1.5 x 2 hours = Overtime pay, equals.
Detailed explanation-2: -According to the FLSA, the formula for calculating overtime pay is the nonexempt employee’s regular rate of pay x 1.5 x overtime hours worked.
Detailed explanation-3: -The regular rate of pay is the total earning by the employee divided by the total number of hours worked in the workweek. REGULAR RATE OF PAY = Divide the total earnings for the workweek, including earnings during overtime hours, by the total number of hours worked that workweek.
Detailed explanation-4: -Remuneration is the total compensation received by an employee. It includes not only base salary but any bonuses, commission payments, overtime pay, or other financial benefits that an employee receives from an employer.