Pay Types
What is the difference between hourly pay and salary pay?
What is a bi-weekly pay schedule?
A bi-weekly pay schedule pays employees every two weeks.
26 pay periods
Use the Piecewise Function to solve.
Jackson earns $12 per hour and works a standard 40-hour week. He earns time and a half for each overtime hour. Last week he worked 38 hours.
What was her total pay for the week?
h = 38, r = $12
h x r, if h ≤40
h x r, if 38 ≤40
$12x38 =
$456
You earn $12/hr and worked 35 hours. What is your gross pay?
$12.00 x 35 = $420.00
Maria earns $14 per hour and worked 30 hours this week.
Her deductions total $42.
Gross Pay: $14 × 30 = $420.00
Net Pay: $420 − $42 = $378.00
What is considered overtime in most jobs?
Overtime is typically considered any hours worked over 40 hours in a week.
h> 40
How does a semi-monthly pay schedule differ from a monthly pay schedule?
Semi-monthly: 24 pay periods per year, twice per month
Monthly: 12 pay periods per year, once per month
Use the Piecewise Function to solve.
Christy earns $10 per hour and works a standard 40-hour week. She earns time and a half for each overtime hour. Last week she worked 44 hours.
What was her total pay for the week?
h = 44, r = $10
(40 x r) + ((h-40) x (r x 1.5)) , if h > 40
(40 x ($10) + ((44-40) x ($10 x 1.5))
$400 + (4 x 15)
$400 + 60
$460
Salary is $40,000 per year. What is the monthly gross pay?
$3,333.33
Isaiah works 40 hours a week at $16/hour.
He has deductions of $62 for taxes, $45 for insurance, and FICA (7.65%).
What is his net pay?
Gross = $16 × 40 = 640.00
FICA = $640 × 0.0765 = $48.96
Total Deductions = $62 + $45 + $48.96 = $155.96
Net Pay = $640.00 − $155.96 = $484.04
What is the standard overtime pay multiplier?
1.5 times regular rate
True or False:
Getting paid weekly means you worked 7 full days.
False; a workweek is based on scheduled hours, not calendar days
Use the Piecewise Function to solve.
Asher earns $15 per hour and works a standard 40-hour week. He earns time and a half for each overtime hour. Last week he worked 50 hours.
What was her total pay for the week?
h = 50, r = $15
(40 x r) + ((h-40) x (r x 1.5)) , if h > 40
(40 x ($15) + ((50-40) x ($15 x 1.5))
$600 + (10 x $22.50)
$600 + $225
$825
Robert earns $10/hr and worked 3.5 hours. What is his gross pay?
$35.00
Jasmine earns $12.50/hr and worked 28 hours this week.
She had $22 in federal tax and FICA deductions (6.2% + 1.45%).
Find her net pay.
Gross = $12.5 × 28 = $350.00
SS = $350 × 0.062 = $21.70
Med = $350 × 0.0145 = $5.08
Total Deductions = $21.70 + $5.08 + $22 = $48.78
Net Pay = $350.00 − $48.78 = $301.22
True or False.
If your hourly pay is $12.00, your overtime rate is $18.00.
True ; $12 × 1.5 = $18.00
Your gross pay is $600, but after deductions, your net pay is $515.
You want to buy a pair of shoes that costs $120.
True or False:
You should base your spending decision on your gross pay.
False — You should make spending decisions based on your net pay.
Write the inequality that represents OT hours.
h > 40
Janet earns $75,000 annually and is paid semi-monthly.
What is Janet's gross pay?
Gross Pay: $75,000 ÷ 24 = $3,125.00
Sofia earns a monthly salary of $3,200.
Her deductions are:
Federal Tax: $290
State Tax: $85
FICA (7.65%)
Find her net pay for the month.
FICA = $3,200 × 0.0765 = $244.80
Total Deductions = $290 + $85 + $244.80 = $619.80
Net Pay = $3,200.00 − $619.80 = $2,580.20
How do you calculate net pay from gross pay?
Net pay = Gross Pay - Total Deductions
James is a single construction manager with a bi-weekly salary of $2,100.
How many paychecks will he receive in a year?
What is his annual salary?
Bi-weekly = 26 pay periods
$2,100 x 26 = $54,600
Victoria earns $14 per hour and works a standard 40-hour week. She earns time and a half for each overtime hour. Last week he worked 43 hours.
What was her total pay for the week?
(40 x r) + ((h-40) x (r x 1.5)) , if h > 40
(40 x ($14) + ((43-40) x ($14 x 1.5))
$560 + (3 x $21)
$560 + $63
$623.00
Maggie earns $62,000 annually and is paid bi-weekly. What is Maggie's gross pay?
Gross Pay: $62,000 ÷ 26 = $2,384.62
Noah earns $13.75 per hour and worked 32 hours this week.
His paycheck shows the following deductions:
Social Security (6.2%)
Medicare (1.45%)
Federal Tax: $28.00
What is Noah’s net pay?
Gross = $13.75 × 32 = $440.00
SS = $440 × 0.062 = $27.28
Med = $440 × 0.0145 = $6.38
Total Deductions = $27.28 + $6.38 + $28.00 = $61.66
Net Pay = $440.00 − $61.66 = $378.34