if the employee is fulltime at $9.50hr (plus 20% for benefits) and works one hour of overtime at 1.5 salary, what would the cost be for one week?
How many hours per week is considered "fulltime?"
40
40 * 9.50 = $380
$380 * 1.2 = $456
1.5 * 9.5 = 14.25
$456 + 14.25 = ?
To calculate the cost for one week for an employee who is full-time at $9.50 per hour (plus 20% for benefits) and works one hour of overtime at 1.5 times the regular salary, you need to follow these steps:
1. Calculate the regular salary for one week:
- Multiply the hourly wage ($9.50) by the number of hours worked in a full-time week. Assuming a standard 40-hour workweek, the regular salary would be $9.50 * 40 = $380.
2. Calculate the cost of benefits:
- Add 20% to the regular salary to account for the benefits. Multiply $380 by 0.20 (20%) to calculate the benefit amount: $380 * 0.20 = $76.
3. Calculate the overtime cost:
- Multiply the regular hourly wage ($9.50) by the overtime rate (1.5) to calculate the overtime hourly rate: $9.50 * 1.5 = $14.25.
- Multiply the overtime hourly rate by the number of overtime hours worked. In this case, it's one hour: $14.25 * 1 = $14.25.
4. Calculate the total cost for one week:
- Add the regular salary, benefits cost, and overtime cost together: $380 + $76 + $14.25 = $470.25.
Therefore, the total cost for one week for this employee would be $470.25.