An Employee Whose Regular Hourly Rate Is $12 and Whose

question 32

Short Answer

An employee whose regular hourly rate is $12 and whose overtime rate is 1.5 times the regular rate worked 45 hours in one week. The employer should record an overtime premium of ________ in the payroll register.

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Definitions:

Bailee

The person acquiring possession of personal property in a bailment.

Gratuitous Bailment

A situation where property is voluntarily transferred into another's custody without expectation of payment.

Stradivarius

A type of high-quality stringed instrument made by members of the Stradivari family, particularly renowned violins.

Bailor

The party in a bailment who temporarily transfers possession but not ownership of a property to another party, the bailee.