Question

Carrie Overwood works fluctuating work schedules. Besides her fixed salary of $1,050 per week, her employment agreement provides for overtime pay at an extra half-rate for hours worked over 40. This week she worked 48 hours. Compute the following amounts. Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent. a. The overtime earnings $ b. The total earnings $ c. If this was a BELO plan with a pay rate of $22.00 per hour and a maximum of 53 hours, how much would Overwood be paid for 48 hours? $

Answer 1

A)Normal pay rate = 1050 /40 = $ 26.25 per hour

overtime hours = 48-40 = 8 hours

overtime rate = 1.5 * normal rate

            = 1.5 *26.25

            = $ 39.375 per hour

Total overtime earnings = overtime hours *overtime rate

               = 8 *39.375

            = $ 315

B)Total earnings =fixed salary +overtime earnings

           = 1050 +315

               = 1365

c)If the maximum limit is 53 hours ,there will be no overtime payable .

Thus total earnings in that case will be 48 hours* 22 = $ 1056