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

question 39

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 . Gorman is paid $10.50 per hour for a 35-hour workweek. This past week, he worked an
extra 10 hours on a job at a pay rate of $13.00 per hour. If he is only paid overtime for hours over 40 and the
employer uses the average rate method, his total earnings for the 45 hours of work were __________.

---

Definitions:

Wheeled Coach

Known as the largest manufacturer of ambulances in the world, highlighting operations management and process efficiency in their production system.

MRP

Material Requirements Planning, a system for managing manufacturing processes through scheduling and inventory control.

Supermarket

A large-self service retail store offering a wide variety of food and household products, organized into aisles.