Overtime Pay

Accounting Terms Dictionary

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Overtime Pay

If a non-managerial employee works more than 40 hours a week, she is entitled to overtime pay which is calculated at 150% of her regular pay.

Mary makes $20 an hour and works 45 hours this week. Her regular pay would be 40 x $20 or $800. Her overtime pay would be 5 x $30 (20 x 1.5) or $150. Her total paycheck would be $950 (800 + 150).

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