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1.3 Regular and overtime pay
Business Math 1.3 Regular and overtime pay
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Goals Compute overtime pay Calculate regular and overtime pay
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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
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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.
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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
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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.
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Read wrap up for answer to start up
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Team meeting In a group, discuss team meeting on page 17 make list of rules.
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