for the second week of february, eric reed worked 49.50 hours. eric earns $18.20 an hour. his employer pays…

for the second week of february, eric reed worked 49.50 hours. eric earns $18.20 an hour. his employer pays overtime for all hours worked in excess of 40 hours per week and pays 1.5 times the hourly rate for overtime hours. calculate the following for the second week of february (round your responses to the nearest cent if necessary): 1. regular pay amount: $ 2. overtime pay: $ 3. gross pay: $

for the second week of february, eric reed worked 49.50 hours. eric earns $18.20 an hour. his employer pays overtime for all hours worked in excess of 40 hours per week and pays 1.5 times the hourly rate for overtime hours. calculate the following for the second week of february (round your responses to the nearest cent if necessary): 1. regular pay amount: $ 2. overtime pay: $ 3. gross pay: $

Answer

Explanation:

Step1: Calculate regular pay

Regular hours are 40. Hourly rate is $18.20. So regular pay = 40×18.20. $40\times18.20 = 728$

Step2: Calculate overtime hours

Overtime hours = Total hours - Regular hours. Total hours are 49.50 and regular hours are 40. So overtime hours = 49.50 - 40 = 9.50. $49.50 - 40=9.50$

Step3: Calculate overtime pay rate

Overtime pay rate = 1.5×Hourly rate. Hourly rate is $18.20. So overtime pay rate = 1.5×18.20 = 27.30. $1.5\times18.20 = 27.30$

Step4: Calculate overtime pay

Overtime pay = Overtime hours×Overtime pay rate. Overtime hours are 9.50 and overtime pay rate is 27.30. So overtime pay = 9.50×27.30 = 259.35. $9.50\times27.30=259.35$

Step5: Calculate gross pay

Gross pay = Regular pay + Overtime pay. Regular pay is 728 and overtime pay is 259.35. So gross pay = 728+259.35 = 987.35. $728 + 259.35=987.35$

Answer:

  1. $728.00
  2. $259.35
  3. $987.35