SECTION 1-2 Overtime Pay pp. 94-95.

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Presentation transcript:

SECTION 1-2 Overtime Pay pp. 94-95

Section Objective Figure out: straight-time pay overtime pay total pay

SECTION 1-2 Key Words to Know overtime pay (p. 94) Extra pay for hours worked beyond regular hours. time and a half (p. 94) An overtime pay rate of 1½ times more than the regular hourly rate. Copyright © Glencoe/McGraw-Hill MBA, Section 1- 1, Slide 3 of XX

Key Words to Know double time (p. 94) An overtime pay rate of two times more than the regular hourly rate, often paid for working Sundays and holidays.

Formulas Overtime Pay = Overtime Rate × Overtime Hours Worked Total Pay = Straight-Time Pay + Overtime Pay (Note: Total pay is often called gross pay.)

The Road to Building Castles p. 94 What are the benefits of working time and a half?

Example 1 Alonso Perez is paid $8.20 an hour for a regular 40-hour week. His overtime rate is 1½ times his regular hourly rate. This week Perez worked his regular 40 hours plus 10 hours of overtime. What is his total pay?

Example 1 Answer: Step 1 Find the straight-time pay. Hourly Rate × Regular Hours Worked $8.20 × 40 = $328.00

Example 1 Answer: Step 2 Find the overtime pay. Overtime Rate × Overtime Hours Worked (1.5 × $8.20) × 10 = $123.00

Example 1 Answer: Step 3 Find the total pay. Straight-Time Pay + Overtime Pay $328.00 + $123.00 = $451.00

Practice 1 Jiwon Chang earns $11.70 per hour plus time and a half for overtime. Last week he worked his regular 40 hours plus six hours on the weekend. What is his total pay for the week?

Practice 1 Answer $573.30

Practice 2 Nadia Campana earns a regular hourly rate of $23.60. She earns double time for work on Sundays. Last week she worked her regular 36-hour week plus 7½ hours on Sunday. What is her total pay for the week?

Practice 2 Answer $1,203.60

END OF SECTION 1-2 Overtime Pay