Question

Another example would be your paycheck. You earn $13 an hour plus time-and-a-half overtime for anything over 40 hours. One week you worked 46 hours and the next week you worked 51 hours. What would your gross pay be for that two-week period? Thought question: Using that pay period as an example, would you rather have a pay raise of $15 an hour but no overtime pay, or keep your current rate and take the overtime?

Answer 1

The gross pay for a two-week period is $1371.50. Whether a $15/hour raise without overtime pay is preferable depends on typical work hours and overtime.

To calculate the gross pay for the two-week period, we can use the following steps:

For the first week (46 hours):

Regular pay = 40 hours * $13/hour

Overtime pay = 6 hours * $13/hour * 1.5

Total pay for the first week = Regular pay + Overtime pay

For the second week (51 hours):

Regular pay = 40 hours * $13/hour

Overtime pay = 11 hours * $13/hour * 1.5

Total pay for the second week = Regular pay + Overtime pay

The total gross pay for the two-week period is the sum of the total pay for the first week and the total pay for the second week.

Now, let's calculate the gross pay for the two-week period using the given information:

For the first week:

Regular pay = 40 hours * $13/hour = $520

Overtime pay = 6 hours * $13/hour * 1.5 = $117

Total pay for the first week = $520 + $117 = $637

For the second week:

Regular pay = 40 hours * $13/hour = $520

Overtime pay = 11 hours * $13/hour * 1.5 = $214.50

Total pay for the second week = $520 + $214.50 = $734.50

Total gross pay for the two-week period = $637 + $734.50 = $1371.50

Now, let's consider the thought question about the pay raise:

If you were to receive a pay raise of $15 an hour with no overtime pay, it would be beneficial if you typically work less than 40 hours a week. However, if you often work overtime, then keeping your current rate and receiving time-and-a-half overtime pay would likely result in a higher overall income.

Ultimately, whether a $15 per hour raise without overtime pay is preferable to keeping your current rate and receiving overtime depends on your typical work schedule and the amount of overtime you usually work.

Answer 2

Assuming a regular 40-hour workweek, the first week's gross pay would be calculated as follows:

40 hours x $13/hour = $520 (regular pay)
6 hours x $19.50/hour ($13 x 1.5) = $117 (overtime pay)
Total gross pay for the first week = $637

Similarly, the second week's gross pay would be calculated as follows:

40 hours x $13/hour = $520 (regular pay)
11 hours x $19.50/hour ($13 x 1.5) = $214.50 (overtime pay)
Total gross pay for the second week = $734.50

Thus, the gross pay for the two-week period would be $1,371.50 ($637 + $734.50).

Thought question: It would depend on personal preferences and financial needs. If an individual wants a more predictable and steady income, they may prefer a pay raise of $15 an hour but no overtime pay. However, if they are willing to work longer hours and want to earn more money overall, they may prefer to keep their current rate and take the overtime.