Certainly! Let's break down the calculations:
### 1. Vacation Pay
Vacation pay is a percentage of the employee's salary. Here, we're given that vacation pay should be calculated as 4% of this year's salary.
- This year's salary: \[tex]$59,500
- Vacation pay percentage: 4%
To calculate vacation pay:
\[ \text{Vacation Pay} = \text{This Year's Salary} \times 0.04 \]
So,
\[ \text{Vacation Pay} = 59,500 \times 0.04 = 2380.0 \]
Thus, they are owed \$[/tex]2380.0 as vacation pay.
### 2. Lieu of Notice Pay
Lieu of Notice pay is the compensation for the notice period. Here, we're asked to calculate for 8 weeks.
First, we need to determine the weekly salary:
- Annual salary: \[tex]$59,500
- Weeks in a year: 52
To find the weekly salary:
\[ \text{Weekly Salary} = \frac{\text{This Year's Salary}}{52} \]
So,
\[ \text{Weekly Salary} = \frac{59,500}{52} = 1144.23 \]
Now, we calculate the Lieu of Notice pay for 8 weeks:
\[ \text{Lieu of Notice Pay} = \text{Weekly Salary} \times 8 \]
So,
\[ \text{Lieu of Notice Pay} = 1144.23 \times 8 = 9153.85 \]
Thus, they are owed \$[/tex]9153.85 as Lieu of Notice pay.
### Summary
- Vacation Pay Owed: \[tex]$2380.0
- Lieu of Notice Pay Owed: \$[/tex]9153.85
