Jim earns a regular hourly rate of $5 and a premium hourly rate of $6. He worked 45 hours last week. What is his gross pay?
I am assuming premium hourly rate is overtime....if so, then..
(40 5) + (5 6) = 200 + 30 = $230
if premium hourly rate is not overtime, then disregard this answer.
The premium is the overtime.
Total time = 45 hours.
40 hours of regular time at $5, and 5 hours of overtime.
Total = 40*5 + 5 * 6 = 200 + 30 = $230