For the first week of March, Betty Hill worked 37.25 hours. Betty earns $17.40 an hour. Her employer pays overtime for all hours worked in excess of 40 hours per week and pays 1.5 times the hourly rate for overtime hours.
Calculate the following for the first week of March (round your responses to the nearest cent if necessary):
1. Regular pay amount: $
2. Overtime pay: $
3. Gross pay: $
1. Regular pay amount: $647.85 (37.25 hours x $17.40 per hour)
2. Overtime pay: $0 (No overtime since Betty worked less than 40 hours)
3. Gross pay: $647.85 (Regular pay amount plus no overtime pay)
To calculate the regular pay amount for Betty Hill for the first week of March, we need to determine the number of hours she worked that fall within her regular hours and then multiply it by her hourly rate.
1. Regular hours: 40 hours per week
2. Hours worked: 37.25 hours
3. Regular pay amount = Regular hours worked * Hourly rate
Regular pay amount = 37.25 hours * $17.40/hour
Regular pay amount = $647.35
Next, to calculate the overtime pay, we need to determine the number of hours that exceed the regular hours and then multiply it by 1.5 times the hourly rate.
1. Regular hours: 40 hours per week
2. Hours worked: 37.25 hours
3. Overtime hours = Hours worked - Regular hours
Overtime hours = 37.25 hours - 40 hours
Overtime hours = 0 overtime hours (since the hours worked are less than the regular hours)
Overtime pay = Overtime hours * 1.5 * Hourly rate
Overtime pay = 0 hours * 1.5 * $17.40/hour
Overtime pay = $0
Finally, to calculate the gross pay, we need to add the regular pay amount and the overtime pay.
Gross pay = Regular pay amount + Overtime pay
Gross pay = $647.35 + $0
Gross pay = $647.35
Therefore, the calculations for Betty Hill's pay for the first week of March are as follows:
1. Regular pay amount: $647.35
2. Overtime pay: $0
3. Gross pay: $647.35