Grayco has close to $1,000$ full$-$time and part$-$time employees who manufacture component parts for hand tools. The company policy states that part$-$time employees are not eligible for overtime pay, even if an employee works more than $40$ hours during a particular week. Which of the following is most likely to be true in this case?

Grayco has not violated the Fair Labor Standards Act of $1938$ because part$-$time employees are by definition exempt from overtime pay.

Grayco has not violated the Fair Labor Standards Act of $1938$ because private employers are not covered under the act.

Grayco has violated the Fair Labor Standards Act of $1938$ because all of its employees are covered by the act and are entitled to overtime pay.

Grayco has violated the Fair Labor Standards Act of $1938$ because the law prohibits an employer ffiminn requiring employees to work over $40$ hours per week.