question archive Potts, Inc

Potts, Inc

Subject:FinancePrice: Bought3

Potts, Inc., recently converted from a 5-day, 40-hour workweek to a 4-day, 40-hour workweek, with overtime continuing to be paid at one and one-half times the regular hourly rate for all hours worked beyond 40 in the week. In this company, time is recorded under the continental system, as shown on the time card below.

Sue Ellen Boggs is part of the Group B employees whose regular workweek is Tuesday through Friday. The working hours each day are 800 to 1200; 1230 to 1630; and 1800 to 2000. The company disregards any time before 800, between 1200 and 1230, and between 1630 and 1800, and permits employees to ring in up to 10 minutes late before any deduction is made for tardiness. Deductions are made to the nearest 1/4 of an hour for workers who are more than 10 minutes late in ringing in.

 

No. 160   Hr. Rate $10.45
Name Sue Ellen Boggs   O.T. Rate $15.675
Time Mon Tues Wed Thurs Fri Sat  

Evening

Out

  2002 2001 2005 2000    

In

  1801 1809 1802 1800    

Afternoon

Out

  1630 1631 1630 1635    

In

  1230 1231 1230 1238    

Morning

Out

  1200 1202 1200 1203 1201  

In

  755 750 813 759 800 Total for Week
Daily
Totals
(a)           (b)
Remarks 13 minutes late
Thursday - deduct ¼ hr.
 

 

Refer to the time card and compute the following:

a. The daily total hours. Enter any fraction of an hour as a decimal. For example 2¼ hours would be entered as 2.25.

Tuesday ________ hours
Wednesday ________ hours
Thursday ________ hours
Friday ________ hours
Saturday ________ hours

Note: For b through d below, round the final answer to two decimal places.

b. The total hours for the week.
________ hours

c. The regular weekly earnings.
$________

d. The overtime earnings (company rounds O.T. rate to 3 decimal places).
$________

e. The total weekly earnings.
$________

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