This page (revision-2) was last changed on 26-Nov-2021 10:22 by rforbes

This page was created on 26-Nov-2021 10:22 by KateN

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Version Date Modified Size Author Changes ... Change note
2 26-Nov-2021 10:22 1 KB rforbes to previous
1 26-Nov-2021 10:22 1 KB KateN to last

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AC-A 710
AC-A710

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At line 1 changed one line
!!!Determine Payout Wage Rate
!!!A710 Determine Payout Wage Rate
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|01*|Use Established Rate|Uses the wage rate as defined in [A010|AC-A010]. Rule\\ 01 is used i the full amount owing is calculated\\based on the employee's current rate.\\Example:\\From the official record, Time Owing is 60 hours\\and Wage Rate is $8.00/hr.\\From the unofficial record, time owing is 66.667 \\hours, and Wage Rate is $10.00/hr (1 month\\entitlement this evaluation = 6.667 hours).\\The payout wage rate would be $10.00.|[A010|AC-A010]|[A730|AC-A730]
|02|Use Average Rate|Calculates the wage rate based on an average\\of the wage rate(s) used when old entitlements\\were earned and the wage rate used for this\\entitlement.\\The actual calculation is:\\(Accrual Record Amount Earned + (Entitlement\\This Evaluation x Current Wage Rate))\\Total Time Owing Including This Evaluation.\\Rule 02 is used if the entitlement earnings are\\based on the wage paid at the time earned.\\Example:\\From the accrual record, Time Owing is 60\\hours and Wage Rate is $8.00/hr. Therefore,\\Amount earned is 60 x $8.00 = $480.\\From the calculated entitlement, time owing is\\66.667 hours, and Wage Rate is $10.00/hr. If 1\\month entitlement this evaluation is 6.667\\hours, the amount earned is 6.667 x $10 =\\$66.67.\\The payout wage rate would be calculated as:\\($480 + $66.67) / 66.67 = $8.20.|[A010|AC-A010]\\[A700|AC-A700]\\[A730|AC-A730]|[A730|AC-A730]
|01*|Use Established Rate|Uses the wage rate as defined in [A010|AC-A010]. Rule 01 is used if the full amount owing is calculated based on the employee's current rate. Example:\\From the official record, Time Owing is 60 hours and Wage Rate is $8.00/hr.\\From the unofficial record, time owing is 66.667 hours, and Wage Rate is $10.00/hr (1 month entitlement this evaluation = 6.667 hours).\\The payout wage rate would be $10.00.|[A010|AC-A010]|[A730|AC-A730]
|02|Use Average Rate|Calculates the wage rate based on an average of the wage rate(s) used when old entitlements were earned and the wage rate used for this entitlement. The actual calculation is:\\(Accrual Record Amount Earned + (Entitlement This Evaluation x Current Wage Rate)) Total Time Owing Including This Evaluation.\\Rule 02 is used if the entitlement earnings are based on the wage paid at the time earned. Example:\\From the accrual record, Time Owing is 60 hours and Wage Rate is $8.00/hr. Therefore, Amount earned is 60 x $8.00 = $480.\\From the calculated entitlement, time owing is 66.667 hours, and Wage Rate is $10.00/hr. \\If 1 month entitlement this evaluation is 6.667 hours, the amount earned is 6.667 x $10 = $66.67.\\The payout wage rate would be calculated as: ($480 + $66.67) / 66.67 = $8.20.|[A010|AC-A010]\\[A700|AC-A700]\\[A730|AC-A730]|[A730|AC-A730]
This page (revision-2) was last changed on 26-Nov-2021 10:22 by rforbesTop