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Hi sir I have one doubt:
If the basic day rate is $4 per hr and overtime is paid at tima and a quarter, 8 hrs of overtime worked. How the overtime premium will be calculated ??? and what you mean by time and a quarter ?
Thank you sirTime and a quarter means that for every hour of overtime you are paid for 1 and 1/4 hours.
In practice we get the same result by paying for overtime at 1.25 times the normal hourly rate.
So here, the normal rate is $4 per hour. Overtime hours will be paid at $4 x 1.25 = $5 per hour, which is a premium of $1 per hour over the normal rate.
Hi Good afternoon.
Time and quarter is the basic rate plus quarter of the basic rate.
Time and quarter is the the full $4 plus quarter of the four dollar. quarter of the $4 is $1. so the rate for overtime will be $5Snahs is correct.
And because we are paying overtime at $5 per hour, we are paying a premium of $1 over the normal rate of $4.
so when we are calculating the labour cost :
direct cost wil be 8*4 = 32
and indirect cost ( premium) will be 8*1 = 8am i correct sir ??
Can anyone of you help me with this question:
Can you please help me with this question:A production operative is paid $ 11.00 per hour for basic 35 hour week.
Over time is paid 40% over the basic rate.
The operative worked for 38 hours in one week.
Income tax dedeucted was $ 76.40 and benefit contribution payments were:employer : $40
employee : 10% of gross payWhat was the net pay of the operative in that week?
@Iqra – In the future, please start a new post for a question and do not hijack another post.
GROSS PAY
Basic: 35*11=385
Overtime:11*3*1.4=46.20Gross pay=431.2
DEDUCTIONS
Income tax=76.4
Contribution=431.2*10%=43.12Total deductions=119.52
Net pay= 431.2-119.52=311.68
@JohnMoffat please feel free to split this question from the post.
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