Math Problem Statement
As the payroll manager for a particular company, your task is to complete the following weekly payroll record. The company pays overtime for all hours worked over 40 at the rate of time-and-a-half. Round to the nearest cent when necessary. Note: Do not round the hourly overtime rate before finding the amount of overtime pay. Employee Sands M 6 T 5 W 10 T 8 F 10 S 6 S 0 Hourly Rate $9.90 Total Hours hr Overtime Hours hr Regular Pay $ Overtime Pay $ Total Pay $
Solution
To complete the weekly payroll record, follow these steps:
Step 1: Calculate Total Hours Worked
Add the hours worked for each day:
Step 2: Calculate Overtime Hours
Overtime applies for hours worked beyond 40. Subtract 40 from the total hours:
Step 3: Calculate Regular Pay
Regular pay covers the first 40 hours at the hourly rate. Multiply the hourly rate by 40:
Step 4: Calculate Overtime Pay
The overtime rate is time-and-a-half, or . Compute the overtime rate:
Multiply the overtime rate by the overtime hours:
Step 5: Calculate Total Pay
Add the regular pay and overtime pay:
Final Payroll Record:
Employee | Total Hours (hr) | Overtime Hours (hr) | Regular Pay ($) | Overtime Pay ($) | Total Pay ($) |
---|---|---|---|---|---|
Sands | 45 | 5 | 396.00 | 74.25 | 470.25 |
Would you like a detailed breakdown of the calculations or further assistance? Here are five related questions for you:
- What if the hourly rate increased to $10.50—how would the payroll change?
- How would payroll calculations differ if there were bonuses?
- Could you calculate payroll for multiple employees using similar parameters?
- What tax deductions should be considered for this payroll?
- How do you calculate holiday pay for employees?
Tip: Always verify the accuracy of overtime calculations and ensure payroll complies with labor laws.
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Math Problem Analysis
Mathematical Concepts
Basic Arithmetic
Time-and-a-Half Overtime Pay
Payroll Calculation
Formulas
Total Hours = sum of hours worked for each day
Overtime Hours = Total Hours - 40
Regular Pay = hourly rate * 40
Overtime Pay = overtime hours * overtime hourly rate
Total Pay = Regular Pay + Overtime Pay
Theorems
Time-and-a-Half Overtime Pay Calculation
Suitable Grade Level
Grades 9-11