Question

find the overtime rate, the amount of earnings at the regular pay, the amount of overtime pay, and the total gross wages for the employee. hours in excess of 40 are overtime hours.

(table with name, s, m, t, w, th, f, s, total hrs, reg. hrs, o.t. hrs; for bond h, total hrs 43.4, reg. hrs 40, o.t. hrs 3.4)

(another table with name, reg rate, o.t rate, gross earnings (regular, overtime, total); for bond h, reg rate $9.65, o.t rate $, regular $, overtime $, total $)

what was the overtime rate for mr. bond?
$ 13.28
(round to the nearest cent as needed )
what was the amount of earnings at mr. bond’s regular pay?
$ 386.00
(round to the nearest cent as needed )
what was the amount of earnings at mr. bond’s overtime pay?
$
(round to the nearest cent as needed )

Explanation:

To solve for Mr. Bond's overtime pay, we follow these steps:

Step 1: Recall the overtime rate formula

The overtime rate (O.T Rate) is typically \( 1.5 \) times the regular hourly rate (Reg Rate) for overtime hours. We already know the regular rate is \( \$9.65 \) and the O.T Rate is \( \$14.475 \) (from the first part, though we can calculate it as \( 9.65 \times 1.5 = 14.475 \)).

Step 2: Determine the number of overtime hours

First, find the number of regular hours (usually 40 hours per week for a standard workweek). The total hours worked is \( 43.4 \) hours. So, overtime hours \( = \) Total hours \( - \) Regular hours \( = 43.4 - 40 = 3.4 \) hours.

Step 3: Calculate overtime pay

Overtime pay \( = \) Overtime rate \( \times \) Overtime hours.
Substitute the values: Overtime rate \( = \$14.475 \), Overtime hours \( = 3.4 \).
Overtime pay \( = 14.475 \times 3.4 \).

Calculate \( 14.475 \times 3.4 \):
\( 14.475 \times 3 = 43.425 \)
\( 14.475 \times 0.4 = 5.79 \)
Add them together: \( 43.425 + 5.79 = 49.215 \)

Round to the nearest cent: \( \$49.22 \) (or check if we use the given O.T Rate from the table, but since we calculated the overtime hours as 3.4, and O.T Rate as \( 9.65 \times 1.5 = 14.475 \), the product is \( 14.475 \times 3.4 = 49.215 \approx 49.22 \)).

Answer:

\(\$49.22\) (rounded to the nearest cent)