Question

Jose cruz earns $2,275 each month and works 37.5 hours each week. his employer pays him overtime (for hours beyond 37.5) and uses the overtime premium approach. cruz's overtime premium hourly rate is

Answer 1

The answer is "$7".

This is how we calculate this;
Amount Jose earn per month = $2,275
Number of months in a year = 12
number of weeks in a year = 52
working hours = 37.5
cruz's overtime premium hourly rate is = ? = x

$2,275 × 12 = $27,300

$27,300 ÷ 52 = $525

$525 ÷ 37.5 = $14.00

$14.00 × 0.5

=$7