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Kim Farrena earns $17.60 per hour. Overtime from Monday to Friday is paid at time and one-half regular pay for any hours over 7 1/2 per day. Overtime on weekends is paid at double the regular rate of pay. Last week Kim worked regular hours on Monday, Wednesday, and Friday, 8.5 hours on Tuesday, 11.75 hours on Thursday, and 5 hours on Saturday. Determine Kim's gross wages by each of the two methods.
Year 1
The initial or first year in a given time frame or series, often used as a base year for comparison in financial and performance analysis.
Absorption Costing
An accounting method that includes all direct costs and allocated overhead costs (both fixed and variable) in the cost of a unit of product.
Unit Product Cost
The total cost associated with producing one unit of product, including direct materials, labor, and overhead.
Year 2
The second year in a given timeline or series, often used in financial and performance analysis.
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