Compute hourly rate and overtime rates

Reference no: EM132083007

Question: Unless instructed otherwise, compute hourly rate 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 overtime 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, drop the third decimal place.

Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow.

Kevin Kurtz is a newly hired exempt employee who earns an annual salary of $67,600. Since he started work on Thursday (five-day week ends on Friday), his pay for the first week would be $______________.

Reference no: EM132083007

Questions Cloud

Administrator of the contoso corporation : You are an administrator of the Contoso Corporation. You are responsible for configuring the users' mobile computers.

What is an upstream sale : What is an upstream sale? What company may have unrealized profits on its books in an upstream Sale? What is a downstream sale?

Configuring storage space-storage pools : You create new storage pool for the following disks on your Windows 10 computer:

Why is it important to use statistics ethically : Why is it important to use statistics ethically? Give an example of unethical use of statistics and explain why it is unethical.

Compute hourly rate and overtime rates : 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).

Create a pie chart using the column school type : For each of the 2 majors create a pie chart using the column ‘School Type'. Comment on your results.

Why does us copiers manufacture copiers and toner cartridges : Why does US Copiers manufacture both copiers and toner cartridges? Why don't separate firms specialize in either copiers or toner cartridges.

What are the consequences of bankruptcy : Bankruptcy is the topic that will often be brought up in the conversation. Research on bankruptcy and discuss the consequence of bankruptcy.

Bitlocker drive encryption : You want to make sure the files you have on the system are protected from prying eyes. You are considering using BitLocker Drive encryption.

User Account

All Pages