BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Assuming that the minimum daily wage rate is Php 450, how much is the total pay for the day if we add the overtime rate per hour.?
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Php.520.71
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Php.527.10
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Php.521.70
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Php.527.01
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Explanation:
Detailed explanation-1: -What is the formula to calculate overtime pay? 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-2: -Overtime pay is calculated: Hourly pay rate x 1.5 x overtime hours worked.
Detailed explanation-3: -Basic Pay of the employee + Night Shift Bonus / total no of days * working hours in a day. And the following wage is calculated for half an hour for each extra pay working hour.
Detailed explanation-4: -Hourly Rate x 200% x 130% x Number of Hours Worked Note that the 200% in the formula above is the additional pay of the employee for working on a regular holiday.
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