Update: By the way, the chair of the department does not have the best English skills because he is Asian and went to school in Germany, so English is probably his third language. Don't tell me not to go to RPI because of the guy's English skills, lol. Update 2: Ohh no, I know the term candidate is common...
Iowa's overtime minimum wage is $10.88 per hour, one and a half times the regular Iowa minimum wage of $7.25. If you earn more then the Iowa minimum wage rate, you are entitled to at least 1.5 times your regular hourly wage for all overtime worked.
To pay overtime, the employer would divide the regular rate in half ($10.00 divided by 2, or $5.00), and then multiply that result by the 10 overtime hours. The overtime due for this week would be $50. The employee's gross wages for the week, including overtime, would be $550 (the $500 salary plus $50 in overtime pay).