Calculating Hourly Wages

Front

What is a deduction?

Back

The amount of money subtracted from a worker's gross pay.

Front

What is Healthcare Insurance?

Back

A benefit offered by most employers to help employees pay medical bills.

Front

What does the Fair Labor Standards Act require for overtime pay?

Back

Overtime pay cannot be less than 1.5 times the regular pay rate and is required for working over 40 hours a week.

Front

How many hours are considered to be a full work week?

Back

40 Hours.

Front

If the Hourly Rate is $6.32 and Hours Worked is 30, what is the total pay?

Back

$189.60.

Front

What is gross pay?

Back

The total amount of money earned before any deductions.

Front

What is net pay?

Back

The amount of money a worker takes home after deductions.

Front

What are FICA taxes?

Back

Federal Insurance Contributions Act taxes that fund Social Security and Medicare.

Front

What is overtime?

Back

The time worked beyond the standard 40 hours in a week.

Front

What is the minimum wage?

Back

The lowest legal hourly pay that workers can receive.