1. Salary pp. 87-88 1-5 SECTION

2. Copyright © Glencoe/McGraw-Hill MBA, Section 1- 5, Slide 2 of 12 1-5 Section Objective Determine: salary per pay period

3. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 5, Slide 3 of 12 1-5 salary (p. 87) A fixed amount of money earned on a regular basis, received weekly, biweekly, semimonthly, or monthly. Pay periods Weeklyevery week52 times a year Bi-Weeklyevery 2 weeks26 times a year Semi-Monthly2 times a month24 times a year Monthlyevery month12 times a year Annuallyonce every year1 time a year Key Words to Know

4. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 5, Slide 4 of 12 1-5 Salary per Pay Period = Annual Salary Number of Pay Periods Formula

5. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 5, Slide 5 of 12 1-5 The Road to Building Castles Does your boss expect less from you when you become a salaried employee?

6. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 5, Slide 6 of 12 1-5 Beth Huggins is a computer programmer. Her annual salary is $42,648. What is her monthly salary? What is her weekly salary? Example 1

7. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 5, Slide 7 of 12 1-5 Step: Find the salary per pay period. Monthly: $42,648.00 ÷ 12 = $3,554.00 52 = $820.15 Weekly: $42,648.00 ÷ 52 = $820.15 Example 1 Answer

8. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 5, Slide 8 of 12 1-5 Michelle Giuseffi is a police officer. Her annual salary is $40,560. What is her biweekly salary? Practice 1

9. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 5, Slide 9 of 12 1-5 Note: Bi-weekly means every 2 weeks Michelle’s bi-weekly salary is $1,560 Practice 1 Answer

10. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 5, Slide 10 of 12 1-5 Colin Evans is a hotel desk clerk who earns an annual salary of $21,216. What is his weekly salary? Practice 2

11. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 5, Slide 11 of 12 1-5 Note: There are 52 weeks in a year. Colin’s weekly salary is $408. Practice 2 Answer

12. SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 1- 5, Slide 12 of 12 1-5 Now turn your paper over! This is where you will be doing today’s classwork! Your assignment is: Txt p87/ 1 – 17 If you finish before the end of the period, you may work on other Classwork, otherwise this assignment will be homework!