What is the formula for calculating total gross pay?
FM Unit 5 Review

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•
Mathematics
•
12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Total gross pay = regular pay + overtime pay
2.
FLASHCARD QUESTION
Front
How do you calculate gross pay per hour?
Back
Gross pay per hour = Total gross pay / Total hours worked
3.
FLASHCARD QUESTION
Front
What is the minimum wage in the United States as of 2023?
Back
$7.25 per hour
4.
FLASHCARD QUESTION
Front
Who are considered non-exempt employees under the Fair Labor Standards Act?
Back
Non-exempt employees are those entitled to overtime pay.
5.
FLASHCARD QUESTION
Front
If a contractor charges $2,700 for 45 hours of work, how do you find their gross pay per hour?
Back
Gross pay per hour = $2,700 / 45 hours = $60
6.
FLASHCARD QUESTION
Front
What is the difference between gross pay and net pay?
Back
Gross pay is the total earnings before deductions; net pay is the amount after deductions.
7.
FLASHCARD QUESTION
Front
What is overtime pay?
Back
Overtime pay is the additional pay for hours worked beyond the standard workweek, typically calculated at 1.5 times the regular rate.
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