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Maddy Peters's Regular Hourly Wage Rate Is $14 and She

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Maddy Peters's regular hourly wage rate is $14 and she receives an hourly rate of $21 for work in excess of 40 hours. During a March pay period Maddy works 47 hours. Maddy's federal income tax withholding is $80 and she has no voluntary deductions. Compute Maddy Peters's gross earnings and net pay for the pay period.


Definitions:

Potential Dilutive Effect

The possible impact on a company’s earnings per share if convertible securities were converted into common stock, often considered in financial analysis.

If-Converted Method

A calculation technique used to assess the impact on diluted earnings per share if all convertible securities were converted into common stock.

Convertible Securities

Financial instruments, such as bonds or preferred stocks, that can be converted into a predetermined number of common stock or equity shares.

Diluted Earnings

The reduced earnings per share figure when considering the conversion into common stock of all potential shares that could dilute earnings.

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