Carrie Overwood works fluctuating work schedules. Besides her fixedsalary of $1,043 per week, her employment agreement provides forovertime pay at an extra half-rate for hours worked over 40. This...
Carrie Overwood works fluctuating work schedules. Besides her fixedsalary of $1,043 per week, her employment agreement provides forovertime pay at an extra half-rate for hours worked over 40. This weekshe worked 44 hours. Compute the following amounts.
Round all divisions to two decimal places and use the rounded amountsin subsequent computations. Round your final answers to the nearestcent.
a. The overtime earnings
b. The total earnings
c. If this was a BELO plan with a pay rate of $20.50per hour and a maximum of 53 hours, how much would Overwood be paid for44 hours?
1043/40 = 26.075. I am rounding this up to 26.08. If your teacher has you round down in such situations, answers will need to change.
Given that Overwood’s base rate of pay is $26.08, we can find her overtime rate by multiplying her base rate by 1.5.
26.08 x 1.5 = 39.12
Overwood makes $39.12 per hour for every hour that she works above and beyond 40 hours per week. If she works 44 hours in a given week, we find her overtime pay my multiplying her hourly overtime rate by 4 hours.
39.12 x 4 = 156.48
So Overwood made $156.48 in overtime earnings. We add that to her base pay to find her total pay.
1043 + 156.48 = 1199.48.
Overwood’s total earnings in this scheme are $1199.48 for this week.
If Overwood participates in a Belo plan, things are much different. Please refer to the link below for an explanation of Belo plans. The question states that the Belo plan’s pay is $20.50/hour for a maximum of 53 hours. This means that Overwood’s wages at straight time are determined by multiplying her pay rate by her maximum number of hours.
20.50 x 53 = 1086.50
But now we have to find her time-and-a-half rate.
20.50 x 1.5 = 30.75
Overwood must be paid $30.75 per hour for 13 hours (because she must get overtime pay for the hours in the Belo plan above and beyond 40 hours per week).
30.73 x 13 = 399.75
Her overtime premium pay is $399.75 per week.
To determine her total pay, we have to add her pay at straight time ($1086.50) to her overtime premium pay ($399.75)
1086.5 + 399.75 = 1485.75.
In these circumstances, Overwood would be paid $1485.75 under the Belo plan.