Question

continued - calculating gross payRemember, this is money round to the nearest Penny/hundredths place.

Answer 1

Regular pay is $383.2

Overtime rate is $14.37

Overtime pay is $114.96

Gross pay is $498.16

Explanation:

Assuming the overtime multiplier is 1.5 and the standard work week is 40 hours. Therefore, we calculate the regular payment like this:

`RP=40\cdot9.58=383.2`

The overtime rate would be the value of the normal payment times the overtime multiplier, like this

`OTR=9.58\cdot1.5=14.37`

Then we multiply the number of additional hours to the 40 hours allowed, that is, 8 (48 - 40), for which one gives overtime pay

`OTP=8\cdot114.96=114.96`

Now the gross pay would be the sum of the regular payment with the overtime payment:

`GP=114.96+383.2=498.16`