PSa 2-9 Calculate Gross Pay Based on an Incentive Plan Calculate gross pay for each...
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PSa 2-9 Calculate Gross Pay Based on an Incentive Plan
Calculate gross pay for each of the following employees of Launchpad Co. The company offers a regular wage rate of $8.20/hour to all employees. Under an incentive plan in place for all employees, this rate increases for any employee who can meet weekly production goals. The increased rates and corresponding thresholds that must be met are as follows:
$9.40/hour for producing at least 2,000 units
$10.60/hour for producing at least 2,800 units
$11.80/hour for producing at least 3,700 units
$13/hour for producing at least 4,700 units
All employees are paid an overtime wage rate that is 1.5 times their respective regular wage rates. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1: Bronson Chau worked 45 hours and produced 3,251 units. Gross Pay = $
2: Pauline Myers worked 48 hours and produced 2,054 units. Gross Pay = $
3: Angela Smith worked 54 hours and produced 5,157 units. Gross Pay = $
4: Angelo Balducci worked 48 hours and produced 3,986 units. Gross Pay = $
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