Paycheck Terms
money you get from work
What is a paycheck?
how much an employee is paid per hour
What is pay/hourly rate?
the minimum wage in Mississippi
What is $7.25
Jean works as a secretary for a local business. She is paid $10.50 per hour. She gets paid overtime for all hours over 40 a week. Last week she worked 52 hours. How many of her hours are over time?
What is 12 hours
Cheyenne earned $320 for regular time work by working 40 hours at $8 per hour. She was also paid time and a half for 9 hours and double time for another 4.5 hours. Her total earnings for the week were
What is $500?
the total amount of money you earn before any deductions are taken out of your paycheck
What is Gross pay?
The lowest pay rate allowed by law for each hour of work.
What is minimum wage?
the two paycheck deductions are included in FICA.
What is Social Security and Medicare?
Johnathon works for an hourly rate of $9.75. This week he worked 39 hours. What is his gross pay for this week?
What is $380.25?
Paul Hunt earns $5.00 an hour working part-time at an auto-parts store. He works 36 hours per week. His deductions total $17.82. What is his net pay each week?
What is $162.18?
the part of a paycheck that provides information about the pay period, including the number of hours worked and the deductions taken out of the paycheck
What is a pay stub?
money earned at an increased rate for working more than the usual number of hours in one week. Typically paid at time and a half.
Pay given 26 times a year (every 2 weeks).
What is biweekly pay?
Jean is a part-time computer operator. He is paid $82 per day by his employer. Find Jean’s gross pay for five days of work
What is $410.00?
Steve earns $6.50 an hour. He worked 25 hours last week. If Steve’s employer withholds 10% of his paychecks to pay Steve’s income tax, how much will Steve take home in this week’s paycheck?
What is $146.25
25 x $6.5 = $162.50
$162.50 x 10% = 16.25
$162.50 - $16.25 = 146.25
the amount of money you are paid after all the deductions are subtracted
What is Net Pay?
Twice the hourly rate, typically paid on holidays or weekend work.
What is double time
Income received from a company or organization that pays a portion of its income to the shareholders.
Mary Smith worked the the following hours: Monday, 7 hours; Tuesday, 8 hours; Wednesday, 8 hours; Thursday, 7 hours; and Friday, 6 hours. She was paid $9.35 per hour. What was Mary’s gross pay for the week?
What is $336.60?
Steve's regular work week is 40 hours per week. He earns $9.20 per hour and receives "time and a half" pay for each hour of overtime he works. Last week he worked 47 hours and received a gross pay of $420.80. Steve's check was wrong. How much does his boss owe him?
What is $43.80?
$9.20 x 1.5= $13.80
$13.80 x 7=$96.60
$9.20 x 40= $368.00
$368.00 + $96.60= $464.60
$464.60- $420.80= $43.80
money that is subtracted from your paycheck and given to the federal government to help run the country
What is Federal Taxes?
pay based on number of units or pieces created rather than the number of hours worked.
money that is subtracted from your paycheck to pay for your medical coverage
What is insurance?
Martha Green worked 40 regular-time hours at $10.00 per hour and 4 overtime hours at $15.00 per hour. Find Martha’s gross pay for the week.
What is $460.00
$10.00 x 40 = $400.00
$15.00 x 4 =$60.00
For a four week period, you worked 42 hours and earned $327.00 the first week. The next week you worked 46 hours and earned $342.00. The third week you worked 38 hours and earned $298.00 and the last week you worked 35 hours and earned $262.00. For the 4 week period, what were your average hourly earnings?
What is $7.64?
$327.00/42= $7.79
$342.00/46= $7.43
$298.00/38= $7.84
$262.00/35= $7.48
$7.79+$7.43+$7.84+$7.48=$30.54
$30.54/4= $7.64