Question

Liana receives an annual salary of $60,900; she is paid bi-weekly, and his regular workweek is40 hours.a) Calculate her regular pay per payment period. b) Calculate her hourly rate of pay. c) If her overtime rate is time and a half the regular pay, calculate the overtime rate of pay.d) What is Liana's gross pay for a pay period in which she worked 2 hours overtime at timeand a half regular pay?

Answer 1

Answer: Liana receives a yearly salary of $60,900, assuming a 52 weeks a year:

(a) Her pay per pay period would be a weekly because she gets paid bi-weekly:

`\begin{gathered} P_w=(\$60,900)/(52)=1,171.153846 \\ \\ \\ \\ P_w\approx\$1,171.159 \end{gathered}`

(b) The hourly rate pay would be based on 40 hours of the work week:

`\begin{gathered} P_h=(P_w)/(40)=(\$1,171.159)/(40)=\$29.278846 \\ \\ \\ \\ P_h=\$29.279 \\ \end{gathered}`

(c) Her overtime hourly pay rate is the half of the regular pay rate, which is:

`\begin{gathered} P_(overtime)=(1)/(2)P_h=(1)/(2)(\$29.279)=\$14.63942 \\ \\ P_(overtime)=\$14.639 \end{gathered}`

(d) Liana's gross pay for a pay period in which she worked 2 hours overtime is:

`\begin{gathered} P=40P_h+2P_(overtime) \\ \\ P=40*(\$29.279)+2*(\$14.369) \\ \\ P=\$1,171.159+\$29.279=\$1,200.438 \\ \\ P=\$1,200.438 \end{gathered}`