BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Eddie Fantin is paid every two weeks. For the first week of his pay period he worked 42 hours, 4 of which were overtime hours. In the second week he worked 40 regular hours and 7 overtime hours. His regular pay rate is $14.40 an hour with time-and-a-half for overtime. What are his regular, overtime, and total wages for two weeks?
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$1, 123.20; $237.60; $1360.80
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$1, 123.20; $2, 376.00; $3499.00
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$112.32; $2, 854.00; $1360.80
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$112.32; $254.08; $1270.65
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Explanation:
Detailed explanation-1: -3) Regular rate = $14.40 Overtime rate = 14.4 x 1.5 = $21.60 Regular hours worked = (42-4) + 40 = 78 Regular wages =… Transcribed image text: 3. Eddie Fantin is paid every two weeks.
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: -Modern awards that provide for overtime require overtime to be paid: At 150% (time and a half) of an employee’s ordinary time hourly rate for the first two or three hours of overtime worked. At 200% (double time) of an employee’s ordinary time hourly rate after the two or three hours of overtime worked.
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