Lesson 1: Income - Timesheet Example

   Constructing Knowledge


EXAMPLE

Janelle works at a local coffee shop for $10.50/hour. Her timesheet is below. She gets paid time and a half for overtime and is paid overtime for any hours worked beyond 40 hours in a single week. Calculate her gross pay for the week she worked.

Click here for the timesheet in spreadsheet form.

Click here for the timesheet in PDF form.

Complete the timesheet.

   Multimedia

A video describing timesheet completion is provided.


Step 1: Calculate the hours worked each day.



Step 2: Divide the hours worked each individual day into regular hours and overtime hours.



Hours worked beyond 8 hours are overtime hours.


Step 3: Add up the total regular hours and the total overtime hours worked. You may need to make an adjustment if the number of regular hours worked is above the standard work week (44 hours in a week unless otherwise stated. In this case, Janelle is paid overtime for any hours worked beyond 40 hours in a week.)



In addition to Janelle working more than 8 hours on two seperate days, she also worked more than 40 hours in the week. As such, her regular hours of 45.25 hours need to be adjusted to 40 hours. This means she worked 45.25 hours - 40 hours = 5.25 hours of additional overtime. This result can be recorded in the 'adjusted for over 40 hours' section of her timesheet.



The extra 5.25 hours of overtime must be added to the original 2.5 hours of overtime for a total of 7.75 hours of overtime.

Step 4: Calculate the total regular pay and overtime pay to determine Janelle's weekly gross pay.



Be sure to calculate the correct overtime rate. In this case, Janelle is paid time and a half her regular rate of pay. Adding the regular pay to the overtime pay will result in the gross pay for the week. Janelle's adjusted gross pay for the week was $542.06.


Now, it is your turn! Complete the questions in your Chapter 1, Lesson 1 Practice Makes Perfect that refer to Timesheets.



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