Tony Is a Salaried,nonexempt Employee Who Earns $37,400 for a Standard

question 37

Multiple Choice

Tony is a salaried,nonexempt employee who earns $37,400 for a standard 40-hour workweek.During a biweekly pay period,he worked 3.5 hours overtime.What is his overtime-hourly rate? (Round to the nearest cent. )

• A)$17.98 per hour
• B)$24.49 per hour
• C)$26.97 per hour
• D)$29.23 per hour

---

Definitions:

Earnings Per Share

The portion of a company's profit allocated to each outstanding share of common stock, indicating the company's profitability on a per-share basis.

Reverse Split

A corporate action where a company reduces the total number of its outstanding shares to increase the share price without changing the company's overall market capitalization.

Shares Outstanding

The total number of shares of a corporation that have been issued and are held by shareholders, including those held by institutional investors and company officers.

Stock Dividend

A dividend payment made in the form of additional shares rather than cash.