Wages and Salary Math

What is the formula to calculate hourly wages?

• Total amount earned / Number of hours worked

• Total amount earned * Number of hours worked.

• Total amount earned - Number of hours worked.

• Total amount earned + Number of hours worked.

If an employee works 40 hours in a week and earns $15 per hour, what is their gross pay for the week?

• $400

• $550

• $700

• $600

How do you determine an employee's annual salary?

• Multiply the employee's monthly salary by 12.

• Divide the employee's weekly salary by 52.

• Subtract the employee's daily salary from their annual bonus.

• Add the employee's monthly salary to their annual bonus.

If an employee's annual salary is $50,000, what is their monthly salary?

• $3,500.00

• $5,000.00

• $4,166.67

• $4,000.00

What is the formula to calculate overtime pay?

• Overtime pay = Overtime hours + Overtime rate.

• Overtime pay = Regular hours * Regular rate.

• Overtime pay = Overtime hours * Overtime rate

• Overtime pay = Regular hours + Overtime rate.

If an employee works 45 hours in a week and earns $20 per hour, how much overtime pay will they receive?

• $150

• $200

• $250

• $100

What are some common deductions from wages?

• overtime pay, vacation pay, bonuses

• union dues, parking fees, uniform costs

• taxes, social security contributions, health insurance premiums, retirement contributions, wage garnishments

• child support payments, alimony, student loan repayments

If an employee's gross pay is $1,500 and their deductions are $200, what is their net pay?

• $1,000

• $1,600

• $1,300

• $1,700

How do you calculate gross pay?

• Gross pay is calculated by dividing the number of hours worked by the hourly rate.

• Gross pay is calculated by multiplying the number of hours worked by the hourly rate and adding any additional earnings such as overtime or bonuses.

• Gross pay is calculated by subtracting the hourly rate from the number of hours worked.

• Gross pay is calculated by multiplying the number of hours worked by the hourly rate and subtracting any additional earnings.

If an employee works 35 hours in a week and earns $18 per hour, what is their gross pay for the week?

• $630

• $540

• $700

• $650