1. Overtime Pay pp. 94-95 1-2 SECTION

2. Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 2 of 15 1-2 Section Objective Figure out: straight-time pay overtime pay total pay

3. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 3 of 15 1-2 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 1, Slide 3 of XX 1-2 Key Words to Know overtime pay overtime pay (p. 94) Extra pay for hours worked beyond regular hours. time and a half time and a half (p. 94) An overtime pay rate of 1½ times more than the regular hourly rate.

4. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 4 of 15 1-2 Key Words to Know double time (p. 94) An overtime pay rate of two times more than the regular hourly rate, often paid for working Sundays and holidays.

5. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 5 of 15 1-2 Overtime Pay = Overtime Rate × Overtime Hours Worked Total Pay = Straight-Time Pay + Overtime Pay (Note: Total pay is often called gross pay.) Formulas

6. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 6 of 15 1-2 Bruce Wayne is paid $8.20 an hour for a regular 40-hour week. His overtime rate is 1½ times his regular hourly rate. This week Bruce worked his regular 40 hours plus 10 hours of overtime. What is his total pay? Example 1

7. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 7 of 15 1-2 Find the straight-time pay. Hourly Rate × Regular Hours Worked $8.20 × 40 = $328.00 Example 1 Answer: Step 1

8. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 8 of 15 1-2 Find the overtime pay. Overtime Rate × Overtime Hours Worked (1.5 × $8.20) × 10 = $123.00 Example 1 Answer: Step 2

9. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 2, Slide 9 of 15 1-2 Find the total pay. Straight-Time Pay + Overtime Pay $328.00 + $123.00 = $451.00 Example 1 Answer: Step 3

10. Overtime Pay Home work Pg. 95: 1-12 odd