1.3 Regular and overtime pay

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1.3 Regular and overtime pay Business Math 1.3 Regular and overtime pay

Goals Compute overtime pay Calculate regular and overtime pay

Start Up Victor and George are employed by the same company. Victor worked 40 regular hours last week and earned $480. In the same week George worked 38 total hours, including 4 overtime hours. He also earned $480. How is this possible? DO Skill Builders page 14

Recording time Be award that some companies will track time by the ¼ hour or every 15 minutes and others will record time by 1/10 hour or 6 minute intervals. If you are late, that time may also be deducted from you pay.

Overtime and overtime pay rates Overtime is the time worked beyond the regular working day or week Overtime pay is often one and a half (X1.5) times the regular pay. Sometimes overtime is double (X2) the regular pay usually for weekends or holidays. To find overtime pay rate you multiple the regular rate * 1.5 and do not round Or regular rate * 2 if you are paid double time

Regular and overtime wages Find the number of regular-time and overtime hours worked Find the overtime pay rate or rates Find the regular time pay by multiplying the regular-time rate by the regular-time hours. Find the overtime pay by multiplying the overtime hourly rate by the overtime hours worked. Match the time-and-a-half overtime hours and rate; match the double-time overtime hours and rate.

Read wrap up for answer to start up

Team meeting In a group, discuss team meeting on page 17 make list of rules.