CH 2 Practice Problems - 3

NOTE: In all problems, 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.

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.

1. John Olson earns $15.00 per hour and works 40 hours each week. One week John worked 46 hours. Calculate:

a) Regular earnings for the week:

b) Overtime earnings for the week:

c) Total earnings for the week:

*****NO MISSING INFORMATION******