overtime pay pp. 94-95 1-2 section. copyright © glencoe/mcgraw-hill mba, section 1- 2, slide 2 of...
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Overtime Pay pp. 94-951-2SECTIONSECTION
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Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 2 of 15
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Section ObjectiveSection ObjectiveFigure out:
• straight-time pay
• overtime pay
• total pay
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Copyright © Glencoe/McGraw-Hill MBA, Section 1- 1, Slide 3 of XX
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Key Words to Know Key Words to Know
overtime payovertime pay (p. 94)
Extra pay for hours worked beyond regular hours.
time and a halftime and a half (p. 94)
An overtime pay rate of 1½ times more than the regular hourly rate.
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Key Words to Know Key Words to Know
double time (p. 94)
An overtime pay rate of two times more than the regular hourly rate, often paid for working Sundays and holidays.
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Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 5 of 15
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Overtime Pay = Overtime Rate × Overtime Hours Worked
Total Pay = Straight-Time Pay + Overtime Pay
(Note: Total pay is often called gross pay.)
Formulas Formulas
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The Road to Building Castles p. 94The Road to Building Castles p. 94
What are the benefits of working time and a half?
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Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 7 of 15
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Alonso Perez is paid $8.20 an hour for a regular 40-hour week. His overtime rate is 1½ times his regular hourly rate. This week Perez worked his regular 40 hours plus 10 hours of overtime.
What is his total pay?
Example 1Example 1
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Find the straight-time pay.
Hourly Rate × Regular Hours Worked
$8.20 × 40 = $328.00
Example 1 Answer: Example 1 Answer: Step 1Step 1
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Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 9 of 15
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Find the overtime pay.
Overtime Rate × Overtime Hours Worked
(1.5 × $8.20) × 10 = $123.00
Example 1 Answer: Example 1 Answer: Step 2Step 2
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Find the total pay.
Straight-Time Pay + Overtime Pay
$328.00 + $123.00 = $451.00
Example 1 Answer:Example 1 Answer: Step 3Step 3
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Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 11 of 15
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Jiwon Chang earns $11.70 per hour plus time and a half for overtime. Last week he worked his regular 40 hours plus six hours on the weekend.
What is his total pay for the week?
Practice 1 Practice 1
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$573.30
Practice 1 AnswerPractice 1 Answer
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Nadia Campana earns a regular hourly rate of $23.60. She earns double time for work on Sundays. Last week she worked her regular 36-hour week plus 7½ hours on Sunday.
What is her total pay for the week?
Practice 2Practice 2
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Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 14 of 15
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$1,203.60
Practice 2 AnswerPractice 2 Answer
Overtime Pay1-2END OF SECTIONEND OF SECTION