Question

Unless instructed otherwise, compute hourly rate and overtime rates as follows:

1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate).
2. If the third decimal place is 5 or more, round to the next higher cent.
3. If the third decimal place is less than 5, drop the third decimal place.
Casey Klemons' agreement (Belo plan) with his employer provides for a pay rate of $16.50 per hour with a maximum of 50 hours. How much would Klemons be paid for a week in which he worked 46 hours? Round your final answer to the nearest cent.

a) $757.50
b) $752.50
c) $773.00
d) $768.00

Answer 1

Casey Klemons will be paid for 46 hours at an hourly rate of $16.50, resulting in a total pay of $759.00 for the week.

Step-by-step explanation:

To determine Casey Klemons' pay for the week, based on an hourly rate of $16.50, we must first calculate the total earnings for the 46 hours worked. Since there is no overtime involved (as 46 hours does not exceed the 50-hour maximum), we can simply multiply the hourly rate by the number of hours worked.

The calculation is as follows:
46 hours × $16.50 per hour = $759.00

Following the instructions to carry to 3 decimal places and then round off to 2 decimal places, we see that no further arithmetic steps are needed as the figure $759.00 is already rounded to the nearest cent. Therefore, the answer to the amount Casey Klemons would be paid for a week in which he worked 46 hours is $759.00.