Question

Harvey Ramos is a salaried exempt employee at Duodo Scales with a contract that stipulates 37.0 hours per week at $90,000 per year. He is married with three withholding allowances. The pay period ending November 26 contained two company-paid holidays.Calculate Harvey’s biweekly pay based on a standard 5-day work week. Round wages to 5 decimal points. (Hint: determine Harvey’s hourly rate to determine holiday pay.)
What will be an ideal response?

Answer 1

Answer:

Explanation:

Regular pay = annual pay/hrs per week * no of weeks in a year * no of regular hrs.

Regular pay = (($90,000/(37 * 52)) * 56)  = $2,619.54

Holiday pay =  (($90,000/(37 * 52)) * 14)  = $654.89

Gross pay = regular pay plus holiday pay

= $2,619.54 + $654.89

= $3,274.43

Answer 2

Answer:

The Harvey’s biweekly wages (on a standard 5-day work week) to 5 decimal points = $3,461.53846

Explanation:

Harvey Ramos is paid $90,000 per year

but 1 year = 52 weeks, and Harvey works for 37 hours per week; therefore, per hour, Ramos is paid $90,000 ÷ (52 × 37) = $46.77754678 per hour

If Harvey works for 37 hours per week, considering a 5-day work week, Harvey works for (37 ÷ 5) = 7.4 hours per day

Therefore, Harvey’s biweekly pay based on a standard 5-day work week = pay for 10 days = $46.77754678 × 7.4 × 10 = $3,461.538462

The Harvey’s biweekly wages (on a standard 5-day work week) to 5 decimal points = $3,461.53846