Accounting and Finance Foundations

Unit 8

Accounting and Finance Foundations Unit 8: Payroll 670

Payroll

20.4.5

20.4.4

Student Assignment

Chapter 20

Gross Pay with Regular & Overtime Pay

Use the chart to determine the amount of regular hours, regular pay, overtime hours, overtime pay, and

gross pay each employee earned.

Hours Worked

Employee M T W R F S

Hourly

Wage

Reg

Hrs

Reg

Pay

OT

Hrs

OT

Pay

Gross

Pay

Allen, M 8 5 8 9 10 4 $9.75

Porter, J 8 8 5 8 5 8 $10.00

Collins, I 9 7 7 7 9 7 $8.45

Thom, S 4 8 4 4 4 4 $11.12

Nate, W 8 5 8 9 8 9 $7.80

More Gross and Overtime Pay

For each employee, calculate the overtime rate based on the regular pay rate. Then, calculate the regular

and overtime earnings and total gross earnings.

Employee Hours Worked Regular OT Earnings Total Gross

Number Regular OT Rate Rate Regular Overtime Earnings

1 40 5 $9.00

2 30 0 $7.50

3 40 3 $6.70

4 40 7 $8.20

5 36 0 $9.10

6 40 2 $7.00

7 35 0 $8.00

8 40 1 $8.30

20.4 Calculating Pay (cont’d)