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

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Presentation on theme: "Unit 2 Lesson 2 Remediation 1. The Earnings Section The Deduction Section The Personal Information Section  Parts of a paycheck stub."— Presentation transcript:

1 Unit 2 Lesson 2 Remediation 1

2 The Earnings Section The Deduction Section The Personal Information Section  Parts of a paycheck stub.

3  Parts of a the Earnings Section Hourly wage rate is the amount of money you make each hour you work.

4 Pay Period is the length of time that the pay check covers.

5 Regular hours is the number of hours worked in a week (40 or less).

6 Regular Pay is the amount of money earned for up to 40 hours a week. Example: 8.75 hourly rate X 40 hours=$350.00

7 Overtime hours are the number of hours worked past 40 hours a week.

8 Overtime pay is the amount of money earned at one and one half the regular pay rate. Example: 8.75 X 5 hours=$43.75 x 1.5=$65. 63

9 Gross pay is the total amount of money earned. This includes regular pay and overtime pay. Example: $350.00 + $65.63= $415.63

10 Federal Income Tax State Income Tax FICA Work related expenses Medical Insurance

11  Step 1: Add up all of your deductions.  Step 2: Subtract the deductions total from the gross pay. Example: Gross Pay - Deductions Net Pay

12  Step 1: 66.75 31.15 34.43 15.00 +6.00 153.33  Step 2: $445.00 - 153.33 $291.67

13 All graphics created in MS Word and MS PowerPoint using clipart and shapes.

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