BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An industrial carpenter provides finish work for new stores. The details of his job are:* regular hourly wage:$24.30 per hour* overtime pay (time-and-a-half) for more than 40 hours per week* health insurance deduction:$28 per month * union dues:$5.50 per month.What is the carpenter’s net pay this month if he works 42 hours a week? Assume a 3-pay month.
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$2208.68
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$2000.00
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$3216.45
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$2238.67
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Explanation:
Detailed explanation-1: -Minimum Wages Act, 1948 33 it is mentioned that for overtime wages are to be paid at the rate of twice the ordinary rates of wages of the worker.
Detailed explanation-2: -Employees who work more than 40 hours a week are entitled to a higher pay rate for the additional work. This is called overtime pay.
Detailed explanation-3: -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-4: -Overtime pay is calculated: Hourly pay rate x 1.5 x overtime hours worked.
There is 1 question to complete.