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Payroll Computation with Incentive Bonus Fifteen...




Payroll Computation with Incentive Bonus Fifteen workers are assigned to a group project. The production standard calls for 500 units to be completed each hour to meet a customer's set deadline for the products. If the required units can be delivered before the target date on the order, the customer will pay a substantial premium for early delivery. The company, wishing to encourage the workers to produce beyond the established standard, has offered an excess-production bonus that will be added to each project employee's pay. The bonus is to be computed as follows: a. b. Individual's hourly wage rate x bonus percentage = hourly bonus rate c. Hourly wage rate + hourly bonus rate = new hourly rate for week d. Total hours worked x new hourly rate = earnings for week The average wage rate for the project workers is $15 per hour. The production record for the week shows the following: Round the bonus percentage to five decimal places and both the bonus rate AND total bonus and total wages to the nearest cent. Required: 1. Determine the hourly bonus rate and the total amount of the bonus for the week. Hourly bonus rate $ Total bonus for week $ 2. What are the total wages of L. Brock, who worked 40 hours at a base rate of $15 per hour? $ 3. What are the total wages of R. Gibson, who worked 35 hours at a base rate of $20 per hour? $


Paper#7723 | Written in 18-Jul-2015

Price : $25