complete the earnings statement for Rick Lyon during the pay period of December 16 to December 22, 2011. For this pay period, Rick worked forty regular hours and ten overtime hours. Rick's hourly pay is eight dollars. Overtime is time and a half (hourly pay plus half of hourly pay). The percentage amounts listed next to the deductions are just estimates for this exercise. The deduction for hospital/medical contribution is $10 each week.
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Given : pay period of December 16 to December 22, 2011
Rick worked forty regular hours and ten overtime hours.
Hourly pay is eight dollars.
over time is (hourly pay plus half of hourly pay).
deduction for hospital/medical contribution is $10 each week.
To Find : earnings for the week
Solution:
40 regulars hrs
8 $ per hours
40 * 8 = 320 $
over time is 8 + 8/2 = 12 $ per hour
Overt time hrs = 10
10 * 12 = 120 $
Regular Pay = 320 $
Over time pay = 120 $
Deduction = 10 $
Net Earning = 320 + 120 - 10
= 430 $
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