Salary and Wages

Front

What is gross pay?

Back

Amount of earnings before deductions.

Front

What are deductions?

Back

Money taken away from the gross pay; health insurance, taxes, social security.

Front

What is the total amount of income you earn in a pay period before any deductions are taken out?

Back

Gross pay.

Front

What is net pay?

Back

You pay after deductions.

Front

If a gardener earns $15 per hour and works 20 hours, how much will he earn?

Back

$300.

Front

What is the difference between gross pay and net pay?

Back

Gross pay is the total earnings before deductions; net pay is what you take home after deductions.

Front

What are common types of deductions from gross pay?

Back

Health insurance, taxes, social security.

Front

How do you calculate gross pay for hourly workers?

Back

Multiply the hourly wage by the number of hours worked.

Front

If an employee's gross pay is $1,000 and total deductions are $300, what is the net pay?

Back

$700.

Front

What is a salary?

Back

A fixed regular payment, typically paid on a monthly or biweekly basis.