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Business Math 1.5 Other wage planes. Start up Employees, such as food service staff, whose pay varies widely, may need to estimate or project annual gross.

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Presentation on theme: "Business Math 1.5 Other wage planes. Start up Employees, such as food service staff, whose pay varies widely, may need to estimate or project annual gross."— Presentation transcript:

1 Business Math 1.5 Other wage planes

2 Start up Employees, such as food service staff, whose pay varies widely, may need to estimate or project annual gross income based on current earnings. Assume that a waiter’s monthly earnings from hourly wags and tips for the first quarter of the year are as follows: January $1,367; February $1,845; March, $2,398. What is the projected annual gross income for the waiter based on the first quarter’s earnings? Skill Builder

3 Piece-rate employees Number of pieces produced* piece rate = gross pay

4 Per Diem Employees Per diem – by the day, these employees are paid a fixed daily rate. Self-employed persons may charge a set daily rate Per Diem rate * number of days worked = gross pay

5 Tip Employees A tip is the amount of money given to someone for their services provided, also called a gratuity. Often calculated as a percent of the dollar amount attached to their service Tip percent * total bill = tip amount A airport skycap may get a fixed amount per bag Tip per unit * number of units = tip amount

6 Wrap up Algebra connection pg 29 For test- review vocabulary and be able to do problems on page 32 and 33


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