Question

The table below shows the typical hours worked by employees at a company. A new employee is offered an annual salary of $37,000. Hourly employees get paid $14 per hour, but get $21 per hour for each hour over 40 hours. Should the new employee choose the salaried or hourly pay? Explain your reasoning.

Answer 1

The total number of hours worked in the week is 46. The hourly pay would be 40(14) + 6(21) = $686 per week. The annual earnings are 52(686) = $35,672. The salary pay is more than the hourly pay based on the typical hours worked each week given in the table. Therefore, the employee would probably want to choose the salaried pay.

Answer 2

The new employee should choose the Salary pay

First step is to calculate The total number of hours worked in the week

Total number of hours=0+8.5+9.5+7.5+8+8.5+4

Total number of hours=46

Second step is to calculate the hourly pay per week

Hourly pay= (40×$14) + (6×$21)

Hourly pay=$560+$125

Hourly pay== $686 per week

Now let determine the annual earnings

Annual earnings=52×$686

Annual earnings= $35,672

Based on the above calculation the new employee should choose the Salary pay because annual salary of the amount of $37,000 is higher than the hourly pay of $35,672

Inconclusion Therefore, the new employee should choose the Salary pay.

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