Chapter 2 – Earning Money 2.3 Additional Earnings.

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Chapter 2 – Earning Money 2.3 Additional Earnings

c. Describe the advantages and disadvantages for a variety of methods of earning income, such as hourly wage, tips, piecework, salary, commission, contract work, and self-employment. Outcomes

Bonus – extra pay earned when certain conditions of employment have been met or exceeded Shift Premium – extra payment for non-standard work hours Definitions

Monica works as a waitress. She worked a four hour shift and her customers bills totalled $ before tips. Her rate of pay is $8.25/hour If all her customers tipped 10%, how much did she earn? 15%? 20%? Example 1

Jacob works as a stock clerk for a grocery store. His regular pay is $12.00/h, but he earns a shift premium of $2.00/h for any hours he works between 5:00pm and 8:00am. Jacob also earns 1.5 times his pay rate in overtime for any hours he works about 35 hours a week. How much will Jacob earn this week? Example 2 MondayTuesdayWednesdayThursdayFridaySaturday 12:00am -8:00am 4:00pm- 12:00am 6:00am- 11:00am 8:00 am- 3:00am Reg OT SD

Assignment

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