Warm-Up Calculate the total hours worked for the week AM PM DayIn OutIn Out Mon7:30 12:401:30 5:50 Tues5:45 10:1511:15 2:00 Wed6:00 11:2012:15 7:45 Thurs8:30.

Slides:

Advertisements

Similar presentations

Arithmetic and Geometric Sequences

Advertisements

29-Apr-15Created by Mr. Lafferty Maths Dept. Wages & Salaries Annual Salaries / Weekly wages Hourly rate and Wages Wage Rises Commission.

LESSON 12-1 Preparing Payroll Time Cards Did you know… Payroll is one of the largest expenses to a business?

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Thursday, May 3, 2012 Good morning Moment of silence/Pledge/Announcements Bell Ringer Chapter.

Summer Bridge Lesson Planner 6 th Grade Math Math Teacher – Mr. W. Martin, Room 64 Partner English Teacher – Mr. Rivera, Room 65 Dates – 16 June (Monday)

Salary vs. Hourly Is one better than the other?. Employees Workers are categorized not only by what they do, but also how they get paid. One may be paid.

Warm up Problem Jim is working 35 hours this week and he is paid $8.25 per hour. How much will Jim’s straight-time pay be this week? Answer STP = 8.25.

Calculating Gross Earnings with Differing Methods of Compensation.

 Agenda  Policy changes to overtime and callback pay  Scenarios of overtime and callback  New codes for time card  Time card examples.

Chapter 13 – Preparing Payroll Records

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

Chapter 12 Preparing Payroll Time Cards. 2 L 12-1 Paying Employees page 341 Money paid for employee services is called a salary. The period covered by.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

Preparing Payroll Records Preparing Payroll Time Cards Salary – money paid for employee services Pay period – period covered by a salary payment.

Why is it important to know how to understand and calculate your gross income? Employers make mistakes on paychecks. Examples: incorrect number of hours.

PAYROLL ACCOUNTING. WHAT IS PAYROLL?  Payroll – total amount earned by all employees for a pay period.  Pay Period – an amount of time over which an.

WARM UP Define the terms WeeklyBiweeklySemimonthlyMonthlyBimonthlyQuarterlySemiannually.

Consumer Decisions Earning Money.

LESSON 12-1 Preparing Payroll Time Cards

SECTION 1-3 Weekly Time Card pp

LESSON 12-1 Preparing Payroll Time Cards Payroll, What is it? Think about a business and how they may handle how they pay employees. From an accounting.

Math 7 – Warm-up # 1 (Friday, August 10 th ) AGENDA Check homework pg. 18 (workbook) Check zero pairs word problems Walk the # line word problems (outside.

Copyright 2014 © W. Seth Hunter ConsumerMath.org L4.3 Rounding Time to 15 Minutes From wages to salary to commission; earning money comes in many different.

Unit 1: The Job 1.1 Hourly Pay. 1.1 HOURLY PAY What kind of jobs are hourly? What kind of jobs are hourly? What does that mean? What does that mean? You.

Gross Earnings, Wages and Salaries Chapter 6: Payroll Section 6.1.

Warm-Up Multiply 1. 5 x x x x 3.15.

Unit 2 Lesson 2 Remediation 1. The Earnings Section The Deduction Section The Personal Information Section  Parts of a paycheck stub.

Payroll Accounting Making Accounting Relevant Businesses issue payroll checks to their employees to compensate them for work performed. Making Accounting.

Chapter 12 Payroll Accounting

Chapter 2 – Earning Money 2.3 Additional Earnings.

Warm Up 2345 x x x x

Unit 43 Paycheck Calculation. Basic Principles of Paycheck Calculation Two main terms are used regarding payroll: gross pay and net pay. –Gross pay is.

CENTURY 21 ACCOUNTING © Thomson/South-Western 1 LESSON 12-1 CHAPTER 12 OBJECTIVES PREPARING PAYROLL RECORDS DEFINE TERMS RELATED TO PAYROLL RECORDS COMPLETE.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards  Paying employees  Analyzing a payroll time card.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

To find time and a half rates & double time rates based on and hourly wage 1. 5 ½ =.5 = 5/10 Hourly rate X 1.5 Overtime rate 2 Hourly rate X 2__ Overtime.

Starter Questions Q1. Find value of x when x + 4 = 16 Q3. Find 17.5 % of 240 Q2. Find two missing angles 32 o.

MTWTHFS Week of 9/ Week of 9/ Straight Time Pay? Overtime Pay? Double Time Pay? Gross Pay?

1.3 Regular and overtime pay

Before we start  Write your name, date, and note titles at the top of the page.  Copy down all notes.  Yes, ALL notes.

Your Reward for Hard Work Your paycheck should reflect your gross income. Why is it important to know how to calculate your gross income?

Warm-Up Break into 2 equal groups.. Consumer Finance Chapter 1 Earning Money.

Math 7 – Warm-up # 1 (Friday, August 10th)

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

 How many work hours are in a week?  How many work weeks are in a year?  How many months are in a year? gross  What does gross mean in the business.

Tips and Piecework Unit 1 Lesson 5. Objectives  Determine total income earned from a combination of regular wages and tips.  Use the total number of.

Gross Earnings, Wages and Salaries Chapter 6: Payroll Section 6.1.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 12-1 Preparing Payroll Time Cards Original created by M.C. McLaughlin, Thomson/South-Western Modified.

Chapter 1 Gross Income.

Lesson 4: Overtime Consumer Math: p People paid by the hour are paid extra for hours they work in addition to regular hours. Overtime is hours worked.

Figuring Your Paycheck Life Choices _____. Introduction Main reason most of us work is to _____ Paychecks are used to pay for _____ Important to know.

Math 7 – Warm-up # 1 (Friday, August 10 th ) AGENDA Check homework pg. 18 (workbook) Check zero pairs word problems Walk the # line word problems (outside.

Preparing Payroll Time Cards Lesson Paying Employees Salary: money paid for employee services Salary: money paid for employee services Weekly Weekly.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Happy Tuesday!! Check your test grades!! Vocab quiz tomorrow!! Please have all vocab completed.

Compare, Contrast, Calculate. Type of Employee ProsCons Hourly Salary.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 12-1 Preparing Payroll Time Cards How often do people get paid? What’s the difference between Gross.

Minimum Wage… What is the current wage in Washington State? $8.67

How much should I get for working??…

End of the year schedule

LESSON 12-1 Preparing Payroll Time Cards

ANALYZING A PAYROLL TIME CARD

LESSON 12-1 Preparing Payroll Time Cards

Hourly Pay Section 1.1.

No written homework this week due to testing

LESSON 12-1 Preparing Payroll Time Cards

LESSON 12-1 Preparing Payroll Time Cards

LESSON 12-1 Preparing Payroll Time Cards

A3 1.1c To Multiply & Divide Positive & Negative Numbers

ANALYZING A PAYROLL TIME CARD

Presentation transcript:

Warm-Up Calculate the total hours worked for the week AM PM DayIn OutIn Out Mon7:30 12:401:30 5:50 Tues5:45 10:1511:15 2:00 Wed6:00 11:2012:15 7:45 Thurs8:30 12:151:30 5:45 Fri9:30 12:001:15 5:30

Consumer Finance Chapter 1 Earning Money

EARNING MONEY Lesson 4 (AKA 1-4) Overtime

OBJECTIVES To find time and a half rates and double time rates To find number of total hours, regular hours, and overtime hours

VOCAB Overtime is the amount of time worked that is more than 40 hours Per means for each or for one Ex) miles per gallon Time and a half means payment of 1.5 times the regular hourly rate Double time means payment of 2 times the regular hourly rate

I DO Calculate time and a half AND double time Hourly Rate 1) $8.00 2) $7.50 3) $8.96 4) $10.78

WE DO Calculate time and a half AND double time Hourly Rate 1) $8.50 2) $8.14 3) $9.75 4) $12.50

YOU DO Calculate time and a half AND double time Hourly Rate 1) $7.75 2) $9.30 3) $ ) $11.19

I DO Calculate total hours, regular hours, time and a half, and double time hours Hours Worked Each Day MTWTFSSMTWTFSS 1) ) )

WE DO Calculate total hours, regular hours, time and a half, and double time hours Hours Worked Each Day MTWTFSSMTWTFSS 4) )

YOU DO Calculate total hours, regular hours, time and a half, and double time hours Hours Worked Each Day MTWTFSSMTWTFSS 1) )

I DO Calculate total hours, regular hours, time and a half, and double time hours Monday was July 4 th (double time) Hours Worked Each Day MTWTFSSMTWTFSS 1) )

WE DO Calculate total hours, regular hours, time and a half, and double time hours Monday was July 4 th (double time) Hours Worked Each Day MTWTFSS 1) )

YOU DO Calculate total hours, regular hours, time and a half, and double time hours Monday was July 4 th (double time) Hours Worked Each Day MTWTFSS 1) )

REVIEW Today we learned how to calculate overtime wages

HOMEWORK Calculate total hours, regular hours, time and a half, and double time hours (HOW MUCH IS TIME AND HALF AND DOUBLE TIME) Monday was July 4 th (double time) on #2

Chapter 1 Lesson 5 (aka 1.5) Regular wages plus overtime

Vocab None is when there is zero vocabulary terms to learn today

Directions Break hours worked into 2 categories Regular hours and overtime hours Multiply Regular hrs x hourly rate = reg wages Hourly rate x 1.5 = OT rate OT rate x OT hrs = OT wages Add Reg Wages + OT wages = Total Wages

I DO (Reg wages plus OT) Calculate a persons Total Wages Hourly Rate Hours Worked 1)$ )$ )$ )$8.0061

WE DO (Reg wages plus OT) Calculate a persons Total Wages Hourly Rate Hours Worked 1)$ )$ )$ )$

YOU DO (Reg wages plus OT) Calculate a persons Total Wages Hourly Rate Hours Worked 1)$ )$ )$ )$9.6553

Review Today we learned how to calculate a persons page check when given the hours worked and pay rate

Homework Worksheet