Question

Mark and Joe work as jewelers mark has an hourly wage of $24 and gets overtime for every hour he works over 40 hours the overtime pay rate is 150% of the normal rate Joe makes 5% commission on all jewelry he sells who earns more money in a week if mark works 60 hours and Joe sells $21000 worth of jewelry?Explain

Answer 1

Mark earns more money.

Explanation:

Mark: $24/h; 150% OT

Calculate Mark's overtime (OT) pay

Convert OT rate to decimals --> 150% = 1.5

Mark's OT wage is 1.5*$24 = $36

Mark worked for 20h OT. (60h-40h = 20h)

(Regular pay X regular hours worked) + (OT wage X OT hours worked)

= ($24 X 40h) + ($36 X 20h)

= $1680

Joe: 5% commission

Convert 5% to decimals --> 0.05

(Jewelry sold) X (commission rate)

= $21000 X 0.05

= $1050

Since $1680 > $1080, Mark earns more.