Question

Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, calculate hourly rates and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the over-time rate). 2. If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 × 12)/52 = $421.615 rounded to $421.62 Hourly rate $421.62/40 = $10.540 rounded to $10.54 O.T. rate $10.54 × 1.5 = $15.81 Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. Example 2-20 Paul Fritz produced 3,073 pieces in a 44-hour workweek and is paid 18¾ cents for every unit produced. Fritz earned overtime at a piece rate of one and one-half times the regular rate for all pieces produced during overtime hours. Of the total 3,073 pieces produced, 272 were produced in the 4 overtime hours. Fritz's total piecework and overtime earnings are as follows: 2,801 × $0.1875 = $525.19 piecework earnings 272 pieces × 0.2813 ($0.1875 × 1.5) = $76.51 overtime earnings $525.19 + $76.51 = $601.70 piecework and overtime earnings During the first week in April, Courtney Nelson worked 46 hours and produced 1,450 units under a piece-rate system. The regular piece rate is $0.38 a unit. Nelson agreed with her employer prior to the performance of the work that she would be paid one and one-half times the regular piece rate for all pieces produced during the overtime hours. Assume that her production totals for the week were 1,120 pieces during regular hours and 330 pieces during overtime hours. Compute the following amounts. Round your overtime rate to two decimal places and use the rounded amount in subsequent computations. Round the final answers to the nearest cent. a. The piecework earnings $ b. The overtime earnings $ c. The total earnings $

Answer 1