Basic Consumer Mathematics Skills Workbook Lessons 6, 9, 11, and 12 from Chapter 1

Lesson 6 – Compute Earnings that Include Tips These problems are straightforward. If you are given a rate and hours worked in a week, MULTIPLY those values and then ADD the tips. If you are already given the weekly wage, then just ADD the tip.

Lesson 6 – Examples Ex. Shawn delivers flowers. He earns $5.15 an hour plus tips. In one 40 hour work week, he earned $153.00 in tips. Find his total income for the week.

Lesson 9 – Salary When given an annual salary you can compute how much money you would receive based on certain pay periods. Weekly = 52 pay periods (Paid Every Week) Biweekly = 26 pay periods (Paid Every Two Weeks) Semi-Monthly = 24 pay periods (Paid Twice a Month) Monthly = 12 pay periods (Paid Every Month) Quarterly = 4 pay periods (Paid Four Times a Year) Semi-Annually = 2 pay periods (Paid Twice a Year)

Lesson 9 – Examples To compute how much you would make based on the pay period, DIVIDE the annual salary by the amount of pay periods (the number that equates). Example: Stephen is quoted an annual salary of 52,000. Find the amounts he would make if he could chose a weekly, bi-weekly, or semi-monthly pay period.

Lesson 9 – More Examples Jacob is quoted an annual salary of $15,600. Find what he would make for each type of pay period: Weekly, biweekly, semi-monthly, monthly, quarterly, and semi-annually. NOTE: This is how the question will be worded on the QUIZ. It is up to you know the numbers that match to the pay-period.

Lesson 11 – Earning Commission Computing total commission based on a quote an additional sales. Take the percent commission and MULTIPLY it by the QUOTA. (Note: You will have to convert the percent to a decimal – Divide by 100) Subtract the quota from your sales. MULTIPLY the bonus rate by the value you received from Step 2 Add the amount from Step 1 to the Amount from Step 3

Lesson 11 – Let’s Try One Example: Sam sells furniture. He earns 10% commission on his sales up to a quota of $2500. He also earns a 14% bonus commission on all of his sales beyond $2500. Last week his sales were $4966. How much did Sam earn?

Lesson 11 – Let’s Try One Example: Laura sells electronics at a local store . She earns 11% commission on her sales up to a quota of $5300. She also earns a 21% bonus commission on all of her sales beyond $5300. Last week her sales were $5783. How much did Laura earn?

Lesson 12 – Salary Plus Commission To compute total earnings with salary Step 1: MULTIPLY the rate of commission (convert percent to decimal) times the total sales Step 2: Add the amount received from Step 1 to the Salary Earned NOTE to convert percent to decimal divide by 100

Lesson 12 – Let’s Try One Example Adam sells cars. He earns a weekly salary of $156 plus a commission of 0.4% on all of his sales. Last week his sales were $153, 782. What did he earn last week?

Lesson 12 – Let’s Try Another One Example Bob sells high-end furniture. He earns a weekly salary of $200 plus a commission of 2% on all of his sales. Last week his sales were $50,000. What did he earn last week?

PLEASE NOTE: When going through the workbook, YOU are RESPONSIBLE for LEARNING the material no matter how you decide to get the workbook completed!

What’s Next: Lessons 6, 9, 11, and 12 from the workbook will be due next class (at the end of class). We will take a QUIZ on those lessons on next Tuesday 2-17. The next “section” of material is to complete the workbook. Looking Ahead: There will be a TEST on this workbook the week after NEXT.