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attracts a loading of \( 17 \frac{1}{2} \% \), find her holiday pay. 17 The holiday loading is \( 17 \frac{1}{2} \% \). Find the 4 weeks holiday pay for employees who earn the following: a a weekly wage of \( \$ 611 \) b a fortnightly wage of \( \$ 1054 \) c an hourly rate of \( \$ 28.45 \) for a 38 -hour week

Ask by Griffiths Floyd. in Australia
Feb 03,2025

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Answer

- **a) \$611 Weekly Wage**: \$2,871.70 - **b) \$1,054 Fortnightly Wage**: \$2,476.90 - **c) \$28.45 Hourly Rate**: \$5,081.17

Solution

To calculate the 4 weeks holiday pay with a holiday loading of \( 17 \frac{1}{2} \% \) (which is equivalent to 17.5%), follow these steps for each scenario: 1. **Calculate the Base Pay for 4 Weeks**: - **Weekly Wage**: Multiply the weekly wage by 4. - **Fortnightly Wage**: Since a fortnight is 2 weeks, multiply the fortnightly wage by 2. - **Hourly Rate**: Multiply the hourly rate by the number of hours per week, then multiply by 4. 2. **Calculate the Holiday Loading**: - Multiply the base pay by 17.5%. 3. **Total Holiday Pay**: - Add the base pay to the holiday loading. Let's apply these steps to each part: --- ### **a) Weekly Wage of \$611** 1. **Base Pay for 4 Weeks**: \[ \$611 \times 4 = \$2,444.00 \] 2. **Holiday Loading (17.5%)**: \[ 0.175 \times \$2,444.00 = \$427.70 \] 3. **Total Holiday Pay**: \[ \$2,444.00 + \$427.70 = \$2,871.70 \] --- ### **b) Fortnightly Wage of \$1,054** 1. **Base Pay for 4 Weeks**: \[ \$1,054 \times 2 = \$2,108.00 \] 2. **Holiday Loading (17.5%)**: \[ 0.175 \times \$2,108.00 = \$368.90 \] 3. **Total Holiday Pay**: \[ \$2,108.00 + \$368.90 = \$2,476.90 \] --- ### **c) Hourly Rate of \$28.45 for a 38-Hour Week** 1. **Base Pay for 4 Weeks**: - **Weekly Pay**: \[ \$28.45 \times 38 = \$1,081.10 \] - **4 Weeks Pay**: \[ \$1,081.10 \times 4 = \$4,324.40 \] 2. **Holiday Loading (17.5%)**: \[ 0.175 \times \$4,324.40 = \$756.77 \] 3. **Total Holiday Pay**: \[ \$4,324.40 + \$756.77 = \$5,081.17 \] --- ### **Summary of Holiday Pay Calculations** - **a) Weekly Wage of \$611**: **\$2,871.70** - **b) Fortnightly Wage of \$1,054**: **\$2,476.90** - **c) Hourly Rate of \$28.45 for a 38-Hour Week**: **\$5,081.17**

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To calculate the holiday pay with a loading of \( 17 \frac{1}{2} \% \) (or \( 0.175 \)) for the specified wages, we'll first find the total holiday pay for each employee. For a weekly wage of \( \$ 611 \): Holiday Pay = Weekly Wage × 4 × (1 + Loading) = \( 611 × 4 × (1 + 0.175) = 611 × 4 × 1.175 = 2865.25 \) So, the 4 weeks holiday pay is \( \$ 2865.25 \). For a fortnightly wage of \( \$ 1054 \): First, calculate the weekly wage: \( 1054 / 2 = 527 \). Then, Holiday Pay = Weekly Wage × 4 × (1 + Loading) = \( 527 × 4 × 1.175 = 2479.80 \) Thus, the 4 weeks holiday pay is \( \$ 2479.80 \). For an hourly rate of \( \$ 28.45 \) for a 38-hour week: Weekly Wage = Hourly Rate × Hours = \( 28.45 × 38 = 1080.10 \). Now, Holiday Pay = Weekly Wage × 4 × (1 + Loading) = \( 1080.10 × 4 × 1.175 = 5060.84 \) Therefore, the 4 weeks holiday pay is \( \$ 5060.84 \). Overall, happy holiday planning! 🌴✨

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