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

Lesson Objective Calculate straight-time pay. Content Vocabulary hourly rate straight-time pay gross income hourly rate A fixed amount of money for each hour you work. straight-time pay The total amount of money you earn for a pay period at the regular hourly rate. gross income The total amount you are paid during a pay period.

Lesson Objective Calculate straight-time, overtime, and total pay. Content Vocabulary overtime pay time and a half double time overtime pay Extra pay for hours worked beyond the regular number of hours. time and a half An overtime pay rate of 1½ times the regular hourly rate. double time An overtime pay rate of twice the regular hourly rate.

Lesson Objective Calculate the total hours on a weekly time card. Content Vocabulary weekly time card A daily record of the time you report to work and the time you depart.

Lesson Objective Compute total pay on a piecework basis. Content Vocabulary piecework A worker receives a specified amount of money for each item of work completed.

Lesson Objective Determine salary per pay period. Content Vocabulary salary A fixed amount of money earned on a regular basis.

Lesson Objective Calculate straight commission and determine gross pay. Content Vocabulary commission The amount of money paid for selling a product or service. commission rate straight commission commission rate A specified amount of money paid for each sale or a percent of the total value of sales. straight commission Pay that consists only of money earned from sales.

Lesson Objective Compute total graduated commission. Content Vocabulary graduated commission Pay based on a different rate of commission for each of several levels of sales.

SummarySummary Types of Pay Hourly Pay Straight-Time Pay = Hourly Rate x Hours Worked Weekly Time Card Overtime Pay = Overtime Rate x Overtime Hours Worked Pay Cycles You can calculate your gross income if you know the frequency of your payment cycle. Salary A salary is a fixed amount of money that you earn on a regular basis. Types of Commissions Straight commission Graduated commission Piecework Pay You may be paid by the item of work completed.

1.ALGEBRA Sarah Ortiz works as a line worker in a factory. She earns $12.30 per hour. Last week she earned $ straight-time pay. Find the number of hours worked by Sarah last week. A.25 B.25½ C.30 D.35

2.Marshall Hopkins works as a medical technician. He earns $18.50 per hour for 40 hours and time and a half for overtime over 40 hours. If he worked 11 hours overtime, what is his total pay? A.$ B.$ C.$1, D.$1,100.25

3.ALGEBRA Suri Ho earns $23.45 per hour. She starts work on Tuesday through Saturday at 8:00 am and takes an hour lunch break every day. If she ends work at 5:00 pm Tuesday through Friday, how late must she work on Saturday to have a total pay of $ for the week? A.3:00 PM B.3:30 PM C.4:00 PM D.4:30 PM

4.Tim Jackson installs stripes, stickers, and cover snaps on jet skis. He is paid $15 per stripe, $10 per sticker, and $25 per cover snap. Last week, Jackson installed 20 stripes, 11 stickers, and 4 snaps. What was his total pay for the week? A.$420 B.$450 C.$500 D.$510

5.José Penga was hired at an annual salary of $25,430. What is his biweekly salary? A.$ B.$ C.$1, D.$1,075.80

6.Denise Robertson sells office supplies in the southeast region of the U.S. She earns a straight commission of 7% of all products purchased. What is her commission on sales of $5,690.85? A.$ B.$ C.$ D.$450.85

7.Last year, Maxwell Ackroyd sold a $1,700,000 apartment complex and earned a 3.5% commission. He also sold a $5,400,000 shopping center and a $7,300,000 commercial air field and earned a 2.2% commission. What was his total commission? A.$158,900 B.$234,500 C.$338,900 D.$456,000

8.ALGEBRA Tonya Solberg sells lawn mowers. She is guaranteed a minimum salary of $1,500 per month plus 9.5% commission on total sales. How much in total sales does Tonya need in order to have a gross pay for the month of $3,250? A.$17, B.$18, C.$18, D.$19,382.45

9.Mary Vincent sells computer supplies. She is paid a 7% commission on the first $15,000 worth of sales, 9% on the next $6,500, and 11.5% on all sales over $21,500. What is her commission on $24,300 worth of sales? A.$1,957 B.$1,985 C.$2,309 D.$2,475

10.Bruce Gould is paid $7.50 per hour with time-and-a-half for all hours over 8 per day. He also earns commission of 5.4% on all sales. Last week Bruce worked 9 ½ hours each day Monday through Friday. His total sales for the week were $8,300. What is his gross pay? A.$ B.$ C.$ D.$1,540.25

End of Chapter 1 Gross Income