Vocab
Daily Double!!! A fixed amount of money paid to an employee for each time period worked, is called a(n) ____________________________.
Salary
Which type of employee is ALWAYS paid the most money?
a. commission b. hourly c. salary d. None of the above
d. None of the above
Which of the following is NOT a step in finding the gross wages for an employee who has worked both regular time and overtime hours?
a. Find the employee’s average annual income over the past 3 years.
b. Find the overtime pay rate or rates.
c. Add the regular-time pay and the overtime pay.
d. Find the number of regular-time and overtime hours worked.
a. Find the employee’s average annual income over the past 3 years.
William is paid a straight commission of 7.5% on all sales. Last week his sales totaled $10,300. What were his commission earnings last week?
$772.50
The total amount of money that an employee is paid is called ______________________________.
Gross Pay
Daily Double!!! Which type of employee is most likely to earn an hourly wage plus tips?
a. a professional athlete b. a computer salesperson c. a teacher d. a waiter
d. a waiter
Carl is paid an hourly rate of $14.65. What is his weekly gross pay if he works 24 hours per week?
$351.60
What tip would a waiter receive if a customer adds a 20% tip to a meal that costs $52.18?
$10.44
Overtime pay that is figured at one and a half times the regular rate is called ________________________.
time-and-a-half pay
Employees whose rate of commission increases as their sales increase are paid a(n) ___________________.
Graduated Commission
Maria earned $5,150, $4,700, $3,990, and $5,130 from her home business during the last four months. What was her average monthly income during this period?
$4742.50
Daily Double!!! Donald earns a commission of 4.7% on all sales above his weekly quota of $12,500. His sales last week totaled $32,480. What commission amount did Donald earn last week?
$939.06
What is another name for simple average?
a. estimate b. mean c. best approximation
d. median
b. mean
4. Typically, a piece-rate employee is paid only for
a. the total number of hours worked
b. the total number of pieces produced.
c. the total number of pieces produced plus the number of hours worked.
d. none of the above
b. the total number of pieces produced.
Marilyn earns a monthly salary of $3,700. What are her yearly earnings?
$44,400
Daily Double!!! Job 1 pays a commission of 3.5% on all sales, with expected sales of $52,000 a month How much does the job pay?
$1820
Which term describes an employee who receives a fixed amount each day?
a. tip b. per diem c. hourly d. commission
b. per diem
Which type of employee is most likely to earn a base salary plus commission?
a. a construction worker b. a waitress c. a salesperson d. a lawyer
c. a salesperson
Daily Double!!! Joe earns time-and-a-half for working over 8 hours in a day. His regular pay is $13 an hour. He worked the following hours: Find the gross pay earned for the entire week.
Monday 7
Tuesday 8.5
Wednesday 11
Thursday 8
Friday 9
$594.75
Job 2 pays a commission of 4% on sales up to $5000 and 12% on sales over $5000, with expected sales of $25,000 a month. How much does the job pay?
$2600