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.
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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.
$________