 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 world? Total

 Hourly Pay & Salary – find gross pay for hourly and salary  Average Pay  Regular & Overtime Pay  Commission  Other Wage Plans – piece rate, per diem

 Employees – people who work for others.  Ex. Mr. Hale is an employee of UCAHS  Employer – Company or owner  Hourly Rate – worker paid by the hour  Gross pay (gross wages) – Total amount of money paid for working  Salary – paid per day, week, month or year. (Not by the hour)

 Txtbk pg. 5 Example 1 – hourly rate  Do A & B

 Txtbk pg. 5 Example 2 – gross pay  Do C & D

 Txtbk pg. 6 Example 3 – gross pay  Do E & F

 Pg. 6-7 #11-24 (14 pts)

 Workbook page 1 questions 1-5

 If Brian Bloss earns $7 an hour at his job. He worked 16 hours. What’s his gross pay?  If Jesse earns $562/wk, how much gross pay does he earn for a year? $112 $29,224

 Average – a single number that represents a group of numbers (aka mean)  Extension – unit price times the quantity of each item  Subtotal – sum of the extensions  Total sale – sum of subtotal & sales tax

 Round all answers to the nearest penny  Textbook page 9 A & B A.) = 108 / 3 = $36 B.) = 8800 / 4 = $2,200

 Round all answers to the nearest penny  Textbook page 9 C & D C.) 264 / 38 = = $6.95 D.) = / 2 = $41,400

 Textbook page 10 E & F E.) 5 * 12 = 60 2 * 9 = 18 2 * 9 = 18 1 * 11 = 11 1 * 11 = 11 F.) wk wk wk wk wk wk wk = / 8 = = $ = / 4 = $321

 Textbook page 11 G & H G.) H.) = E = = (86 * 4) + N $76 = N E = 385 E = = N

#’S 8-23  TEXTBOOK PG #’S 8-23 ( 20 PTS)

 QUIZ WORKBOOK PAGE 2 ( 12 PTS)

 How many minutes makes up.1 of an hour?  How many minutes makes up.3 of an hour? 6 minutes 18 minutes

 Overtime – time worked beyond regular working day or week.  Normally based on 8 hour work day  Time & a half – Normally overtime is paid time & a half  1.5 x regular pay rate  Double time – Sometimes used for weekends and holidays  2 x regular pay rate

 Textbook page 16 Ex A & B A.) 1.) $ ½ -> $7.51 x 1.5 = $ > $7.51 x 2 = $ > $7.51 x 2 = $15.02 A.) 2.) $ ½ -> $8.76 x 1.5 = $ > $8.76 x 2 = $ > $8.76 x 2 = $17.52 A.) 3.) $ ½ -> $13.67 x 1.5 = $ > $13.67 x 2 = $ > $13.67 x 2 = $27.34

 Textbook page 16 Ex A & B B.) $ ½ -> $11.25 x 1.5 = $ > $11.25 x 2 = $ > $11.25 x 2 = $22.50

 Steps for calculating pay for regular and overtime 1.) Determine the number of regular and overtime hours 2.) Find the overtime payrate 3.) Calculate the pay for regular time 4.) Calculate the pay for overtime 5.) Add the regular pay and the overtime pay together

 Textbook page 17 Ex C & D

C.) Page 17 1.) Determine the number of regular and overtime hours Day RegularOvertime Mon81 ¾ (1.75) Tues8-- Wed6-- Thurs8½ (0.50) Fri8--. Gross

C.) Page 17 2.) Find the overtime pay rate $13.69 x 1.5 = $ $13.69 x 1.5 = $ ) Calculate pay for regular time $13.69 x 38 hours = $ $13.69 x 38 hours = $ ) Calculate pay for overtime $ x 2.25 hours = $ = $46.20 $ x 2.25 hours = $ = $ ) Add the regular pay and the overtime pay together $ $46.20 = $ $ $46.20 = $566.42

D.) Page 17 1.) Determine the number of regular and overtime hours Day RegularOvertime Mon-Thurs405.3 Fri Gross

D.) Page 17 2.) Find the overtime pay rate $17.50 x 1.5 = $26.25 $17.50 x 1.5 = $ ) Calculate pay for regular time $17.50 x 40 hours = $700 $17.50 x 40 hours = $700 4.) Calculate pay for overtime $26.25 x 13.4 hours = $ $26.25 x 13.4 hours = $ ) Add the regular pay and the overtime pay together $700 + $ = $1, $700 + $ = $1,051.75

Textbook page 19 Problem #’s 12-23

Quiz Workbook pages 4-5 All the problems

 Employees earn time and a half pay for all hours worked beyond 40 hours. Last week an employee worked a total of 44.5 hours. How much overtime pay did the employee earn if his regular pay rate is $12.28 per hour? $82.89 = 4.5 hours x 1.5 x 12.28

 Commission – can be an amount for each item sold, or it may be a % of the dollar value of sales  Straight Commission – gets earnings only from commission and nothing but commission  Textbook page 21 Exercise A & B A.) $1.30 x 74 = $96.20 B.) $0.075 x 1,200 = $90

 Sometimes straight commission is calculated based on percents  Textbook page 21 Exercise C & D C.) 15% x $9,500 = $1,425 D.) 15% x ( ) = $1,494

 Commission based on quota– a commission that is a percent of their sales above a certain (fixed) amount.  Quota – the fixed amount  Textbook page 22 Exercise E & F E.) $ %($2,890 - $2,000) =$ F.) $2, %( $29,700 - $15,000) = $3,329 QUOTA

 Graduated Commission– their rate of commission (%) gets higher as their sales increases  Textbook page 23 Exercise G & H G.) 3% X $100,000 = $3,000 $120,000 - $100,000 = 5% 5% X $20,000 = $1,000 $3,000 + $1,000 = $4,000

 Graduated Commission– their rate of commission (%) gets higher as their sales increases  Textbook page 23 Exercise G & H H.) 15% X $85,000 = $12,750 $112,000 - $85,000 = 18% 18% X $27,000 = $4,860 $12,750 + $4,860 = $17,610

 Rate of Commission on Sales = Amount of Commission / Sales  Textbook page 23 Exercise I & J I.) $448 / $6,400 =.07 = 7% J.) $3,240 / $54,000 =.06 = 6%

 PRACTICE - WORKBOOK PG. 6-7 ALL PROBLEMS 1-11

 QUIZ PAGE 24, #’S

Moses supposes his toeses are roses But Moses supposes erroneously And Moses, he knowses his toeses aren't roses As Moses supposes his toeses to be Moses supposes his toeses are roses But Moses supposes erroneously A Rose is a rose A Nose is a nose A Toes is a toes Hu-pi-du-bi-du! (ehehehehe)

 Piece-Rate Employees – get paid for each item (piece) they produce # of Pieces Produced x Piece Rate = Gross Pay Textbook pg 27 EX. A & B A.) $18 x ( ) = $630 B.) $1.20 x ( – 6 ) = $112.80

 Per Diem (by the day) Employees – get paid a fixed daily amount by their employer. Most are temporary employees. # of Days x Per Diem Rate = Gross Pay Textbook pg 28 EX. C & D C.) $425 x 180 = $76,500 D.) $20 x 57 = $1,140

 Tip Employees – money given for services provided. Aka – Gratuity Tip % x Total Bill = Tip Amount Tip Per Unit x # of Units = Tip Amount Textbook pg 29 EX. E & F E.) $10.20 x 15% = $1.53 <- TIP AMOUNT $ = $11.73 <- TOTAL COST OF MEAL F.) $7.60 x 15% = $1.14 <- TIP AMOUNT $ = $8.74 <- TOTAL COST OF MEAL

 Textbook page 30 Problems 9-13, 20-23

 Quiz - Workbook page 8 Problems 1-5

 Workbook pages 10-12

 Chapter Review Txtbk pg #1-27

 Textbook Page 37 #12-20 (100 pts.)