Understanding Pay Concepts

What is Gross Pay?

• The total amount of money an employee earns before taxes and deductions are taken out.

• The amount of money you earn every hour that you work.

• Additional hourly pay for working over the regulated amount of weekly hours.

• The total amount of money that you earn per pay period when you are paid at a hourly rate.

What is Hourly Rate?

• The total amount of money an employee earns before taxes and deductions are taken out.

• The amount of money you earn every hour that you work when you are paid by the hour.

• Additional hourly pay for working over the regulated amount of weekly hours.

• The total amount of money that you earn per pay period when you are paid at a hourly rate.

Tags

CCSS.6.RP.A.1

CCSS.6.RP.A.2

What is Straight-time Pay?

• The total amount of money an employee earns before taxes and deductions are taken out.

• The amount of money you earn every hour that you work.

• The total amount of money that you earn per pay period when you are paid at a hourly rate.

• Additional hourly pay for working over the regulated amount of weekly hours.

What is Overtime Pay?

• The total amount of money an employee earns before taxes and deductions are taken out.

• The amount of money you earn every hour that you work.

• Additional hourly pay for working over the regulated amount of weekly hours.

• The total amount of money that you earn per pay period when you are paid at a hourly rate.

What does Time and a Half mean?

• Regular pay (1.5)

• Regular pay (2.0)

• Additional hourly pay for working over the regulated amount of weekly hours.

• The total amount of money that you earn per pay period when you are paid at a hourly rate.

Tags

CCSS.7.EE.B.3

What does Double Time mean?

• Regular pay (1.5)

• Regular pay (2.0)

• Additional hourly pay for working over the regulated amount of weekly hours.

• The total amount of money that you earn per pay period when you are paid at a hourly rate.

What is Piecework?

• You are paid for each item of work that you produce.

• The total amount of money an employee earns before taxes and deductions are taken out.

• The amount of money you earn every hour that you work.

• Additional hourly pay for working over the regulated amount of weekly hours.

What is a Salary?

• You earn a fixed amount of money on a regular basis.

• The total amount of money an employee earns before taxes and deductions are taken out.

• The amount of money you earn every hour that you work.

• Additional hourly pay for working over the regulated amount of weekly hours.

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

What is Gross Pay?

• A) Pay you receive after taxes and other deductions are taken out.

• B) Total pay before taxes and other deductions are taken out.

• C) A flat tax on your paycheck including Social Security & Medicare.

• D) A progressive tax on income charged by the federal government and most states.

A part-time receptionist earns $6.75 per hour.  If she works 30 hours, how much  will she earn?  

• $4.44
• $202.50
• $30
• $5,400

Tags

CCSS.7.EE.B.3