Question

As the payroll manager for a particular company, your task is to complete the following weekly payroll record. The company pays overtime for all hours worked over 40 at the rate of time-and-a-half. Round to the nearest cent when necessary. Note: Do not round the hourly overtime rate before finding the amount of overtime pay.
Employee Lee
M 9
T 7
W 8
T 7
F 7
S 0
S 9
Hourly Rate $14.95
Total Hours
47
hr
Overtime Hours
7
hr
Regular Pay $
598.00
Overtime Pay $
Total Pay $

Answer 1

The total weekly pay of the company is $754.98

What is total hours worked for the week?

The overtime is the excess of  total hours, which is 47 hours, over the regular hours of 40 hours of work a week, in essence, overtime hours  is 7(47-40)

Overtime rate=regular hour pay*1.5

regular hour pay=$14.95

overtime rate=$14.95*1.5

overtime rate=$22.425

overtime pay for 7 hours=7*$22.425

overtime pay for 7 hours=$156.98

The regular pay is 40 hours of regular time multiplied regular pay per hour

regular pay=$14.95*40

regular pay=$598.00

total pay=regular pay+overtime

total pay=$598.00+$156.98

total pay=$754.98

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