Cam Fitzer, a white-collar exempt employee, started working for Villan Company on Thursday of this week.
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Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, calculate hourly rates 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, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52 = $421.615 rounded to $421.62 Hourly rate $421.62/40 = $10.540 rounded to $10.54 O.T. rate $10.54 x 1.5 = $15.81 Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow Cam Fitzer, a white-collar exempt employee, started working for Villan Company on Thursday of this week. He worked 9 hours on both Thursday and Friday. His annual salary is $77,000, and he is paid weekly for a 5-day week. Determine his gross pay for his first partial week of work. Gross pay $_____________ |
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