Question

A veterinary technician at a hospital currently makes 28 per hour. This salary is set to increase at midyear tO₂9.50 per hour. Which of the following is the weighted hourly wage for this employee?

1) $29.25
2) $29.00
3) $28.75
4) $28.50
5) $28.25

Answer 1

To calculate the weighted hourly wage, we determine the total earnings for each half of the year based on each wage and divide by the total hours worked in a year. The weighted hourly wage for this veterinary technician is $28.75 per hour.

Step-by-step explanation:

The calculation of a weighted hourly wage involves calculating the average wage for the year taking into account the proportion of time the employee earns each wage rate. With a midyear salary increase from $28 to $29.50 per hour, we assume that for half of the year, the technician earns $28 per hour, and for the other half, $29.50 per hour.

To calculate the weighted hourly wage, we can use the following steps:

• Multiply the number of hours in a half year by the first wage to get the total earnings for that period.
• Do the same for the second wage rate.
• Add both totals together to get the combined earnings for the year.
• Divide the combined earnings by the total number of hours worked in the year to find the weighted average wage per hour.

When we do the math:

1. $28 per hour * 2080 hours/2 = $29,120 (first half of the year)
2. $29.50 per hour * 2080 hours/2 = $30,740 (second half of the year)
3. $29,120 + $30,740 = $59,860 (total earnings for the year)
4. $59,860 / 2080 hours = $28.75 (weighted hourly wage)

Therefore, the weighted hourly wage for this employee is $28.75 per hour.