- Slides: 18
Chapter 1 Gross Income
1. 1 Straight-time Pay �Objective: Calculate straight time pay. �Vocabulary: Hourly rate Straight-time pay Gross income
Straight-Time Pay �Some jobs pay you a fixed amount of money for each hour you work. HOURLY RATE �Example: You receive Lps. 150 an hour to work at Cinemark to sell tickets and concession stand. The manager scheduled you for 15 hours this week �STRAIGHT –TIME PAY FORMULA Straight time pay = hourly rate x hours worked �Total amount you get paid over a time period is called GROSS INCOME (gross pay or gross amount) Total amount you earned
Straight-Time Pay Reading Questions 1. What are the benefits of being paid an hourly rate? 2. What two factors affect straight time pay?
Example 1 �Nicole Fiallos is a mail clerk at an advertising firm. She earns Lps. 250 an hour. This week she earned 39 ½ hours. What is her straight time pay for week?
Concept Check 1 Calculate the straight-time pay. 1. $7. 60 per hour x 40 hours 2. $7. 90 per hour x 37 hours
Example 2 �Juan Diego is an accounting clerk. He earns$14. 40 an hour. How many hours per week must he work if he wants to earn approximately $550 per week.
Concept Check 2 Find the straight time pay. Round to the nearest quarter hour. 1. Bessy is an office manager at a weekly newspaper. She earns $22. 50 per hour. How many hours per week does Bessy work if she earns $522. oo per week. 2. Nohel earns $8. 35 per hour as a swimming instructor. How may hours per week mush she work if she wants to earn approximately $190. 00 per week.
Lesson Practice Complete 1. 1 Worksheet given in class
1. 2 Overtime Pay �OBJECTIVES: Calculate straight-time, overtime, and total pay. �VOCABULARY: Overtime pay Time and half Double time
Overtime Pay �Gabriel Rodriguez works at a local library. He works a regular 40 hour work week shelving books at the library. His salary is $10 an hour, and he makes $15 an hour when he works on Saturdays. Sometimes he would rather be out with his friends on Saturdays, but he likes the extra pay.
Overtime Pay �When you work more than the regular amount of hours, you may earn OVERTIME PAY. �The overtime rate, called TIME AND HALF, is usually 1 ½ times your hourly rate. �You may receive an overtime rate of DOUBLE TIME, or twice your hourly rate. Sundays and holidays �FORMULA for overtime pay: Overtime pay = overtime rate x overtime hours worked Total pay = straight time pay + overtime pay
Overtime Pay Reading Questions �Why do employers pay a higher rate for overtime work? �How would you know if you should receive overtime pay? �Look up the definition of wages. How does it relate to an hourly rate?
Example 1 �Esteban is $8. 20 an hour for a regular 40 -hour week as a restaurant host. His overtime rate is 1 ½ times his regular hourly rate. This week he worked his regular 40 hours plus 10 hours of overtime. What is his total pay?
Concept Check 1 Find the total pay. 1. Nicolle Rojas makes $9. 00 an hour. She worked 40 regular hours and 6 hours at time and half. 2. Daniel makes $11. 50 an hour. This week he worked 36 regular hours and 7 hours at time and half.
Example 2 �Pamela is a receptionist at a hotel and conference center. She is paid $12. 50 an hour for a regular 40 hour week. Her overtime pay is 1 ½ times her regular hourly rate. This past week Pamela earned $612. 50 in total pay. How many hours of overtime did she work?
Concept Check 2 Complete the problems. 1. Anabella earns $11. 80 an hour for a regular 40 -hour week at the pet store. Her overtime pay is 1. 5 times her regular hourly rate. Last week Anabella earned $631. 60 in pay. How many hours of overtime did she work? 2. Western Deli pays its couriers straight time for 36 hours per week and double time for any ours more than 36 worked. Last week Diego worked a total of 42 hours and had total pay of $454. 28. What is his straight time pay?
Lesson Practice �Complete 1. 2 Student Activity Worksheet