Pay Schedules
Weekly Pay Calculations
Annual and Monthly Calulcations
Gross Vs. Net Pay
Which Job Pays More
100

How many times per year is someone paid weekly?

52 times a year 

(52 weeks in a year)

100

Marinette earns $25/hour and works 40 hours.

What is her weekly pay?


Answer: $1000 

Hourly wage X hours worked

100

Quentin earns $1,450 per week.

What is his approximate annual income?

Answer: $75,400

$1450 X 52 

52 weeks in a year, annual is more than weekly therefore we multiply

100

A worker earns $600 gross pay.

Their deductions are:

  • Medicare: $9
  • Social Security: $37.20
  • Federal Income Tax: $90
  • State Income Tax: $30
  • Health Insurance: $80

What are the total deductions?

Answer: $246.20

Add up all of the deductions

100

Abigail earns $43,000/year.

Barry earns $22/hour.

Who makes more per year? (Use the 2000 hours worked in a year approximation)

Answer: Barry makes more

Abigail makes $43,000

Barry:
$22 × 2,000 = $44,000

200

How many times per year is someone paid biweekly?


Answer:26 

paid once every 2 weeks (52 divided by 2)

200

Nollie earns $55/hour and works 35 hours. What is his weekly pay?

Answer: $1925 

$55 X 35

200

Quentin earns $1,450 per week.

What is his approximate monthly income?


Answer: $6283.33 OR $5800

$1450 X 52 divided by 12 Convert to annual first

OR

Take $1450 X 4 weeks in a month


200

A worker earns $800 gross pay and has $275 in deductions.

What is their net pay?

Answer: $525

Subtract gross pay and deductions

200

Cecile earns $26.50/hour.

Dan earns $55,000/year.

Who makes more per year? (Use the 2000 hours worked in a year approximation)

Answer: Dan makes more

Dan makes $55,000

Cecile:
$26.50 × 2,000 = $53,000

300

How many times per year is someone paid semimonthly?

Answer: 24 

paid twice per month 12 times 2

300

Omar earns $36.50/hour and works 20 hours.

What is his weekly pay?

Answer: $730 

$36.50 X 20

300

Rob earns $1,850 per week.

What is his approximate annual income?

Answer: $96,200

$1,850 X 52 weeks in a year

300

A worker earns $600 gross pay.

Their deductions are:

  • Medicare: $9
  • Social Security: $37.20
  • Federal Income Tax: $90
  • State Income Tax: $30
  • Health Insurance: $80

What is their net pay?

Answer: $353.80

Subtract the gross pay by the total deductions

300

Edwardo earns $87,000/year.

Finn earns $42/hour.

Who makes more per year?


Answer: Eduardo makes more

Eduardo makes $87,000

Finn:
$42 × 2,000 = $84,000

400

Match each schedule with the number of payments:

  • Weekly
  • Biweekly
  • Semimonthly
  • Monthly
  • Quarterly
  • Annually

Answer: 52, 26,24,12,4,1 in that order

400

Prince earns $19.75/hour and works 40 hours.

What is his weekly pay?

Answer: $790

$19.75 X 40

400

Stacie earns $980 per week.

What is her approximate annual income AND monthly income?

Answer: Annual: $50,960

$980 X 52 weeks in a year

Answer: Monthly: $4,246.67

$50,960 divided by 12 months in a year (A month is less than a year therefore we divide)

400

A worker earns $1,200 gross pay.

Their deductions are:

  • Medicare: $18
  • Social Security: $74.40
  • Federal Income Tax: $180
  • State Income Tax: $60
  • Health Insurance: $100

A. Total deductions?

B. Net pay?

Answer: A. $432.40

Add up all of the deductions first

Answer: B. $767.60

Take deductions and subtract them by the gross pay

400

Which person makes more?

Sarah: $31/hour
Lori: $64,000/year

Calculate both approximate annual incomes.

Answer: Lori makes more

Sarah:
$31 × 2,000 = $62,000

Lori:
$64,000 per year

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