answer:
Jim's normal weekly pay is calculated by dividing the holiday loading amount by 17.5% and then dividing that by 4. His hourly rate is then found by dividing the weekly pay by 40 hours.
Explanation:
The student is asking how to calculate the normal weekly pay and the normal hourly pay rate for Jim, who receives a holiday loading of 17.5% of 4 weeks pay, which totalled to$996.80. To find Jim's normal weekly pay, we first calculate the total holiday pay without the loading by dividing the given loading amount by 17.5% and then divide the result by 4 to find the weekly pay. Afterwards, to find the hourly rate, we divide the weekly pay by the number of hours worked in a week, which is 40 hours.
First, let's find the total holiday pay without the loading:
Total Holiday Pay = $996.80 / 0.175
Total Holiday Pay =$5692.57 (rounded to two decimal places)
Now, we find the normal weekly pay:
Normal Weekly Pay = $5692.57 / 4
Normal Weekly Pay =$1423.14 (rounded to two decimal places)
Lastly, let's calculate the normal hourly rate:
Normal Hourly Rate = $1423.14 / 40
Normal Hourly Rate =$35.58 (rounded to two decimal places)
The final answers are as follows:
a) Jim's normal weekly pay is $1423.14 (rounded to two decimal places).
b) Jim's normal hourly pay rate, assuming he usually works a 40-hour week, is $35.58 (rounded to two decimal places).
