Regular and Overtime Pay

1
Regular and Overtime Pay

• 3-4

2
Wages

• An employees gross or total pay

3
Time Cards

• A record showing when a worker arrived and left
  for regular and overtime pay

4
Time Clock

• A device used to stamp a time card

5
Overtime

• Time worked beyond the regular working day or week

6
Regular-time

• Straight time the number of hours of work
  expected in a regular work day

7
Rules to Solve Time Card Problems

• The smallest unit of time is ¼ hour (15 min)
• No credit is given for arriving early
• No credit is given for leaving late unless it is
  scheduled overtime
• A penalty in units of ¼ hour is applied for
  arriving more than 3 min late or leaving more
  than 3 min early

8
Finding Regular and Overtime Wages

• Multiply the regular-time hourly rate by the
  number of regular-time hours worked
• Multiply the overtime hourly rate by the number
  of overtime hours worked
• Add the regular-time pay and the overtime pay

9
Example

• If you make 6/hour for up to 40 hours in a week
  and 9/hour for any overtime, what would you make
  for 44 hours?
• 40 x 6
• 4 x 9
• 276

10
Time-and-a-half Pay

• Overtime pay figured at one-and-a-half times the
  regular-time rate

11
Calculating Time-and-a-half Pay

• 1.5 x Regular pay rate Time-and-a-half rate (do
  not round)
• Time-and-a-half hours x Time-and-a-half rate
  Time-and-a-half pay

12
Example

• If you make 9.95/hour regular-time with
  time-and-a-half pay for all hours over 40, what
  is your overtime rate and pay for 47 hours?
• 1.5 x 9.95
• 14.925 x 7

13
Double-time Pay

• Twice the regular-time pay rate

14
Calculating Double-time Pay

• 2 x Regular pay rate Double-time rate
• Double-time hours x Double-time rate
  Double-time pay

15
Example

• You make double time for working on weekends. If
  you make 6.95/hour for regular time, what would
  you make for working 8 hours on Saturday?
• 2 x 6.95
• 13.90 x 8

16
Finding Gross Pay

• Find the number of hours worked at the regular
  and overtime rates
• Find the overtime pay rate or rates
• Multiply and combine regular pay and overtime pay

17
Example

• Your job pays 5 an hour with time-and-a-half for
  overtime hours worked beyond 8 hours a day. This
  week you worked these hours M-6, T-8, W-10,
  Th-9, F-11. How many regular and overtime hours
  did you have, and what was your overtime and
  gross pay?

18
Example (con.)

• 6 8 10 9 11 (6 of those were
  overtime)
• 44 6
• 38 x 5
• 1.5 x 5
• 7.50 x 6
• 160 45

19
Homework

• Pages 97-102
• 1-10, 16, 23, 24, 36, 44-48