C&F Ch 1 Vocab & Formulas

Getting paid a fixed amount of money for each hour that you work is called...

• salary.

• hourly rate.

• commission.

• piecework.

The total amount of money you earn for a pay period at the regular hourly rate is your...

• straight time pay.

• hourly rate.

• commission.

• salary.

The total amount you are paid during a pay period is called your...

• commission rate.

• overtime pay.

• gross income.

• hourly rate.

When you work more than the regular number of hours, you may earn...

• commission.

• overtime pay.

• piecework.

• graduated commission.

The overtime rate, called ____________, is usually 1.5 times your hourly rate.

• gross income

• double time

• overtime pay

• time and a half

_________ is when you receive an overtime pay rate of twice your regular hourly rate.

• Double time

• Time and a half

• Overtime pay

• Commission rate

A daily record of the time you report to work and the time you depart is called a...

• piecework.

• gross income.

• straight time pay.

• weekly time card.

When a worker receives a specified amount of money for each item of work completed, they are paid on a _______ basis.

• graduated commission

• commission

• piecework

• salary

A _____ is a fixed amount of money that you earn on a regular basis.

• hourly rate

• graduated commission

• salary

• commission

______ is an amount of money you are paid for selling a product or service.

• Commission

• Salary

• Piecework

• Straight-time pay