Calculate the Total Wages Earned for Each Employee (Assume an Overtime

question 114

Short Answer

Calculate the total wages earned for each employee (assume an overtime rate of time and a half over 40 hours):
a) Sam earns $25 per hour and worked 45 hours in one week.
b) Jim earns $20 per hour and worked 42 hours in one week.

---

Definitions:

Total Assets

The cumulative value of all resources owned by a company, including cash, inventory, property, and equipment.

New Computer

A recent purchase or acquisition of a computing device for personal or business use.

Cash

Physical form of currency such as coins and banknotes; in accounting, cash also includes balances in bank accounts.