Straight-Time Pay (1.1)
What is the formula for straight-time pay?
Straight-time Pay = Hourly Rate × Hours Worked
What is the formula for overtime pay?
Overtime Pay = (Hourly Rate × Overtime Rate) x Overtime Hours
Total Pay = Overtime Pay + Straight-time pay
A salary is a set amount of pay given over a year. True or False?
True
What is the formula for commission?
Commission = Total Sales × Commission Rate
True or False: Overtime usually starts after 35 hours in a week.
False – usually after 40 hours
If you earn $12/hour and work 30 hours, how much do you make?
$360
If you earn $14/hour and work 2 overtime hours for a job that pays time-and-a-half for overtime, what is your overtime pay?
$42.00
If your annual salary is $36,000 and you’re paid monthly, how much do you earn per month?
$3,000
If you sell $5,000 of goods at a 10% commission rate, what do you earn?
$500
Convert 8% to a decimal.
0.08
Calculate straight-time pay: $9.75/hour × 37.5 hours.
$365.63
Calculate total pay: $12/hour, 40 regular hours, 5 overtime hours for time-and-a-half.
Regular = $480, OT = $90, Total = $570
$42,900 annual salary paid biweekly. What is the pay per period?
$1,650
Calculate commission: $18,100 sales × 2%.
$362
You earn $8.40/hour and work 39.5 hours. What is your gross pay?
$331.80
You work 25 hours at $15.50/hour. What is your gross income?
$387.50
You earn $15.25/hour, work 42.5 hours, 40 regular hours and 2.5 overtime hours for time-and-a-half. What is your total pay?
Regular = $610, OT = $57.19, Total = $667.19
An annual salary of $60,000 paid semimonthly means how much per check?
$2,500
Your sales are $68,417, commission rate 3%. What do you make?
$2,052.51
A real estate agent sells $98,000 of property at 8% commission. What do they make?
$7,840
A landscaper works 46 hours at $12.40/hour. The first 40 hours are straight time, and the last 6 are overtime at time-and-a-half. What is his total gross income?
Regular = $496.00, OT = $111.60, Total = $607.60
A carpenter works 38 regular hours and 9 overtime hours for double overtime at $18.60/hour. What is the total gross income?
Regular = $706.80, OT = $334.80, Total = $1,041.60
You make $52,000/year. How much is your weekly salary?
$1,000
You sell $29,100 worth of furniture at a 12.1% commission rate. What is your commission?
$3,521.10
You earn $15/hour and work 44 hours. The first 40 are regular time, and the 4 overtime hours are at double time. What is your total gross pay
Regular = $600, OT = $120, Total = $720