Instruction 2-1 Unless Instructed Otherwise, Compute Hourly Rate and Overtime

question 65

Essay

Instruction 2-1 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.
Refer to Instruction 2-1 . Kerr receives an annual $25,700 base salary for working the territory in Arizona. A quota of $900,000 in sales has been set for that state. Kerr receives an 8 percent commission on all sales in excess of $900,000. This year, the sales are $965,000. The total earnings due Kerr this year are __________.

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Definitions:

Product Outputs

The final products, goods, or services produced by a company or organization as a result of its business operations.

Future Viability

The capacity of an organization or idea to continue to grow, adapt, and succeed over time.

Team Diversity

The inclusion of individuals with a variety of backgrounds, skills, attitudes, and experiences in a team.

Values

Broad beliefs about what is appropriate behaviour.