Question: Compute George Cloonys earnings using the three methods outlined above. Assume that he makes $16.25 per hour for Job A and $18.45 per hour for

Compute George Cloonys earnings using the three methods outlined above. Assume that he makes $16.25 per hour for Job A and $18.45 per hour for Job B. Of the 43 hours worked during the week, he completed 22 hours for Job A, switched and completed 21 hours for Job B. His overtime hours can be attributed to Job A.  Compute George Cloonys earnings using the three methods outlined above. Assume
that he makes $16.25 per hour for Job A and $18.45 per
hour for Job B. Of the 43 hours worked during the week,

Compute George Clooney's eamings using the three methods outlined above. Assume that he makes $16.25 per hour for Job A and $18.45 per hour for Job 3 of the 43 hours worked during the week, he completed 22 hours for Job A, switched and completed 21 hours for Job B. His overtime hours can be attributed to Job A. Higher Rate for Overtime Hours Regular Hours, Job A Regular Total Pay, Job A $ Hourly Rate, Job A. Hourly Rate, Job B Regular Hours, Job B Regular Total Pay, Job Overtime Hours Hourly Rate, Overtime Overtime Total Pay Total Gross Earnings Based on Actual Hours Worked Regular Hours, JobA Hourly Rate, Job A Regular Total Pay. Job A $ Regular Total Pay, Job B Regular Hours, Job B Overtime Hours Hourly Rate, Job B Hourly Rate, Overtime Overtime Total Pay Total Gross Earnings Rate after 40th Hour Noter in this scenario, George's overtime hours can be attributed to JobA Hourly Rate, JobA 5 Regular Hours, JobA Regular Hours, Job B Hourly Rate, Job B Regular Total Pay, Job A Regular Total Pay, lob Overtime Total Pay Overtime Hours Hourly rate, Overtime Total Gross Earnings (1) Higher Rate for Overtime Hours One could pay at the higher rate for the overtime hours. Hours Formula Amount Hours Worked, Job A: 30.0 30.0 hours x $14.75 $442.50 14.0 hours x $19.05 Hours Worked, Job B: 14.0 Overtime hourly rate 266.70 ($19.05 x 0.5) - $9.53, rounded Overtime Hours: 4.0 $9.53 x 4.0 hours 38.12 Gross Earnings $747.32 - the higher of the two (2) Based on Actual Hours Worked One could calculate it by taking the total earnings for both jobs, dividing by the total hours worked, then taking one-half of this Hours Formula Amount Hours Worked, Job A: 30.0 $442.50 14.0 hours x $19.05 Hours Worked, Job B: 14.0 266.70 Overtime hourly rate $709.20 = 44.0 hours $16.12, rounded $16.12 x 0.5 - $8.06, rounded (3) Rate after 40th Hour ter 40th Hour One could use an overtime rate based on the rate for the job performed after the 40th hour. Hours Formula Amount Hours Worked, Job A: 30.0 30.0 hours x $14.75 $442.50 Hours Worked, Job B: 14.0 14.0 hours x $19.05 266.70 Overtime hourly rate ($14.75" x .5, rounded) x 4.0 hours 29.52 Gross Earnings $738.72 = the rate ($14.75, Job A) after the 40th hour

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!