BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The hourly rate on rest day which fall on a regular holiday is 260% of the regular rate. Assuming that the regular rate is 56.25 per hour. What should be the hourly rate?
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Php. 146.25
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Php.147.25
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Php.148.25
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Php.149.25
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Explanation:
Detailed explanation-1: -The hourly rate for a normal day overtime is equal to 125% of the normal hourly wage of the employee. For a rest day overtime, the rate is 169% of the regular rate. The same goes if the date of the overtime falls on a special holiday.
Detailed explanation-2: -For Daily-rate employees, the hourly rate is simply calculated as the daily rate divided by the standard # of working hours per day. So if the daily rate is P500. 00 and you have 8 working hours per day, the Hourly Rate is calculated as P500. 00 / 8 = P62.
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