Instruction 2-1 Unless instructed otherwise, compute hourly rate and overtime rates as follows:
1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate).
2. If the third decimal place is 5 or more, round to the next higher cent.
3. If the third decimal place is less than 5, drop the third decimal place.
Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow.
Refer to Instruction 2-1 Abel works a 37 1/2 hour week at $10.75 an hour. Overtime hours are paid at 1 1/2 times the regular rate.
(a) Abel's regular weekly earnings are ____________.
(b) Abel's overtime rate is _____________.
(c) If Abel works 6 hours overtime during one week, calculate Abel's total gross earnings ____________.

Question

Instruction 2-1 Unless instructed otherwise, compute hourly rate and overtime rates as follows:   
1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate). 
2. If the third decimal place is 5 or more, round to the next higher cent. 
3. If the third decimal place is less than 5, drop the third decimal place. 
Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. 
Refer to Instruction 2-1 Abel works a 37 1/2 hour week at $10.75 an hour. Overtime hours are paid at 1 1/2 times the regular rate. 
(a) Abel's regular weekly earnings are  ____________. 
(b) Abel's overtime rate is  _____________. 
(c) If Abel works 6 hours overtime during one week,  calculate Abel's total gross earnings  ____________.

Quizplus · Accepted Answer

The Answer of Instruction 2-1 Unless instructed otherwise, compute hourly rate and overtime rates as follows:   
1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate). 
2. If the third decimal place is 5 or more, round to the next higher cent. 
3. If the third decimal place is less than 5, drop the third decimal place. 
Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. 
Refer to Instruction 2-1 Abel works a 37 1/2 hour week at $10.75 an hour. Overtime hours are paid at 1 1/2 times the regular rate. 
(a) Abel's regular weekly earnings are  ____________. 
(b) Abel's overtime rate is  _____________. 
(c) If Abel works 6 hours overtime during one week,  calculate Abel's total gross earnings  ____________.

Instruction 2-1 Unless Instructed Otherwise, Compute Hourly Rate and Overtime