CHAPTER 1 GROSS INCOME. WHAT WILL WE LEARN? Section 1-1 Calculate straight-time pay. Figure out...
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Transcript of CHAPTER 1 GROSS INCOME. WHAT WILL WE LEARN? Section 1-1 Calculate straight-time pay. Figure out...
![Page 1: CHAPTER 1 GROSS INCOME. WHAT WILL WE LEARN? Section 1-1 Calculate straight-time pay. Figure out straight-time, overtime, and total pay. Calculate the.](https://reader036.fdocuments.net/reader036/viewer/2022062304/56649f2f5503460f94c492b1/html5/thumbnails/1.jpg)
CHAPTER 1GROSS INCOME
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WHAT WILL WE LEARN?• Section 1-
1 • Calculate straight-time pay.
• Figure out straight-time, overtime, and total pay.
• Calculate the total hours on a weekly time card.
•
Compute the total pay on a piecework basis.
• Section 1-
3
• Section 1-
4
Section 1-2
![Page 3: CHAPTER 1 GROSS INCOME. WHAT WILL WE LEARN? Section 1-1 Calculate straight-time pay. Figure out straight-time, overtime, and total pay. Calculate the.](https://reader036.fdocuments.net/reader036/viewer/2022062304/56649f2f5503460f94c492b1/html5/thumbnails/3.jpg)
• Section 1-5
• Determine the salary per pay period.
• Calculate the straight commission and determine the gross pay.
• Compute the total graduated commission.
• Section 1- 7
Section 1-6
WHAT WILL WE LEARN?
![Page 4: CHAPTER 1 GROSS INCOME. WHAT WILL WE LEARN? Section 1-1 Calculate straight-time pay. Figure out straight-time, overtime, and total pay. Calculate the.](https://reader036.fdocuments.net/reader036/viewer/2022062304/56649f2f5503460f94c492b1/html5/thumbnails/4.jpg)
SO, WHY SHOULD YOU CARE?
• People rarely work for free! Wouldn’t you rather get paid and know how you are getting paid?
• It’s important to know how to calculate your gross income!
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WORDS TO KNOW
• hourly rate p. 92
• straight-time pay p. 92
• overtime pay p. 94
• time and a half p. 94
• commission p. 103
• commission rate p. 103
• straight commission p. 103
• graduated commission p. 106
• double time p. 94
• weekly time card p. 96
• piecework p. 99
• salary p. 101
![Page 6: CHAPTER 1 GROSS INCOME. WHAT WILL WE LEARN? Section 1-1 Calculate straight-time pay. Figure out straight-time, overtime, and total pay. Calculate the.](https://reader036.fdocuments.net/reader036/viewer/2022062304/56649f2f5503460f94c492b1/html5/thumbnails/6.jpg)
SECTION 1.1
HOURLY PAY
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OBJECTIVE
Calculate straight-time pay
![Page 8: CHAPTER 1 GROSS INCOME. WHAT WILL WE LEARN? Section 1-1 Calculate straight-time pay. Figure out straight-time, overtime, and total pay. Calculate the.](https://reader036.fdocuments.net/reader036/viewer/2022062304/56649f2f5503460f94c492b1/html5/thumbnails/8.jpg)
Hourly Rate (p. 92)
• A fixed amount of money paid for each hour of work.
Straight-Time Pay (p. 92)
• The total amount of money earned for a pay period at the hourly rate.
Words to know
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Straight-time pay formula
Straight-Time Pay = Hourly Rate × Hours Worked
![Page 10: CHAPTER 1 GROSS INCOME. WHAT WILL WE LEARN? Section 1-1 Calculate straight-time pay. Figure out straight-time, overtime, and total pay. Calculate the.](https://reader036.fdocuments.net/reader036/viewer/2022062304/56649f2f5503460f94c492b1/html5/thumbnails/10.jpg)
• How are you paid?
• How much are you paid per hour?
• How many hours do you work?
Part/full time jobs?
![Page 11: CHAPTER 1 GROSS INCOME. WHAT WILL WE LEARN? Section 1-1 Calculate straight-time pay. Figure out straight-time, overtime, and total pay. Calculate the.](https://reader036.fdocuments.net/reader036/viewer/2022062304/56649f2f5503460f94c492b1/html5/thumbnails/11.jpg)
• How are you paid?
• How much are you paid per hour?
• How many hours do you work?
Part/full time jobs?
![Page 12: CHAPTER 1 GROSS INCOME. WHAT WILL WE LEARN? Section 1-1 Calculate straight-time pay. Figure out straight-time, overtime, and total pay. Calculate the.](https://reader036.fdocuments.net/reader036/viewer/2022062304/56649f2f5503460f94c492b1/html5/thumbnails/12.jpg)
hour
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Shawna Jackson is a mail clerk. She earns $8.40 per hour. Last week she worked 40 hours, and this week she
worked 39 ½ hours. What is her straight-time pay for each week?
Example 1
Hourly Rate X Hours Worked = Straight-Time Pay
Last Week X =
This Week X =
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You earn $6.50 per hour and work 30 hours this week. What is the straight-
time pay?
Concept check
Hourly Rate X Hours Worked = Straight-Time Pay
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Izumi is a musician. She earns $35.00 per hour. She works 32½ hours.
What is her straight-time pay?
practice
Hourly Rate X Hours Worked = Straight-Time Pay
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NOW, PRACTICE ON YOUR OWN!
P. 93 #3–17 skip #9
SHOW YOUR WORK!