Russell receives a bi-weekly pay of $2,040. He has 34 regular hours work weeks and he gets paid overtime at time-and-a-half for any hours worked over 34 hours. Assume that 1 year = 52 weeks.

Question

Russell receives a bi-weekly pay of $2,040. He has 34 regular hours work weeks and he gets paid overtime at time-and-a-half for any hours worked over 34 hours. Assume that 1 year = 52 weeks.

a. Calculate his annual salary.

b. Calculate his overtime rate of pay.

c. If he worked a total of 90 hours during his last bi-weekly pay-period, calculate his gross payment for the last pay-period.

Answer 1

2040 x 26 = $53,040 annual salary

34 regular hours per week means 34x52 = 1768 hours annually without overtime

53,040/1768 = $30 per hour

90 hours in 2 weeks menas 90-2(34) = 90-68= 22 hours over time

$45 x 22 + $30 x 68 = 990+2040 = $3,030 gross pay