Calculate the percent pay lost when overtime was cut

Assignment Help Financial Econometrics

Reference no: EM13329133

Cycling through Pittsburgh, Pennsylvania, to look at its industrial heritage is an event open to the public. This intriguing ride is laced with the economic challenges that steel mills in Pittsburgh and other areas in the United States have faced resulting in company reductions and shutdowns. Situations similar to the following example are not uncommon. Full-time employees (40 hours per week) at the local steel mill were used to earning up to 10 hours of overtime in a two-week time period. They would typically work five overtime hours Monday through Friday and five overtime hours on the weekend. Many got used to the extra pay and began living beyond the means of their regular pay. Then overtime was cut. The average laborer's pay is $25 an hour. They earned 1.5 times their regular hourly pay for overtime Monday through Friday and 2 times their regular hourly pay on weekends and holidays.

Calculate their typical pay before overtime was cut.

Calculate their percent pay lost when overtime was cut.

Reference no: EM13329133

Questions Cloud

What are pats first weeks deductions for social security : Pat Maninen earns a gross salary of $2,100 each week. Assume a rate of 6.2% on $106,800 for Social Security and 1.45% for Medicare. What are Pat's first week's deductions for Social Security and Medicare

What will be the diameter of your coil : You have a 1.0m long copper wire. You want to make an N-turn current loop that generates a 1.2mT magnetic field at the center when the current is 2.5A. What will be the diameter of your coil

Find out the ph of each solution a solution : Determine the pH of each solution a solution that is 0.028 M in HClO4 and 0.030 M in HCl a solution that is 1.06% HCl by mass

What are the two main characteristics of a pure public good : What are the two main characteristics of a pure public good (for example, national defense)? How is this different from private goods?

Calculate the percent pay lost when overtime was cut : Situations similar to the following example are not uncommon. Full-time employees (40 hours per week) at the local steel mill were used to earning up to 10 hours of overtime in a two-week time period.

Depict the overall reaction of racemic 3-bromohexane : Show the overall reaction of racemic 3-bromohexane from (E)-3-hexene by entering the structures of the products and reactants in the template provided. (E)-3-hexene (S)-3-bromohexane (R)-3-bromohexane

Should your friend continue to operate in the winter months : Other things constant, should your friend continue to operate in the winter months? Be sure to explain to her why she should or should not continue to operate

Determine the time of one revolution of the satellite : An earth satellite moves in a circular orbit with an orbital speed of 6000m/s. Find the time of one revolution of the satellite

Prepare journal entries required in lupinskis accounting : What general types of information must public companies regulated by the SEC disclose in their annual reports regarding their dividend policies? Why is this information important to potential investors?

User Account

All Pages