Gross & Net Pay

Front

What is Gross Pay?

Back

Gross Pay is the total amount of money earned by an employee before any deductions such as taxes, insurance, or retirement contributions.

Tags

CCSS.7.RP.A.3

Front

What is Net Pay?

Back

Net Pay is the amount of money an employee takes home after all deductions have been subtracted from the Gross Pay.

Tags

CCSS.6.NS.B.3

Front

How many weeks are in a year?

Back

There are 52 weeks in a year.

Tags

CCSS.4.MD.A.1

Front

If you are paid weekly, how many times will you get paid in a year?

Back

You will get paid 52 times in a year.

Tags

CCSS.4.MD.A.2

Front

What is a health insurance premium deduction?

Back

A health insurance premium deduction is a flat rate amount deducted from an employee's paycheck to cover health insurance costs.

Front

How do you calculate Gross Pay from hourly wages?

Back

Gross Pay = Hourly Wage x Total Hours Worked.

Tags

CCSS.7.EE.B.3

Front

If Lucy earned $493 for the week plus $525 in tips, what is her Gross Pay?

Back

Lucy's Gross Pay is $1,018.

Tags

CCSS.2.NBT.B.7

CCSS.3.NBT.A.2

Front

What is a flat rate deduction?

Back

A flat rate deduction is a fixed amount that is subtracted from an employee's paycheck, regardless of their earnings.

Tags

CCSS.7.RP.A.3

Front

How do you calculate Net Pay?

Back

Net Pay = Gross Pay - Total Deductions.

Tags

CCSS.6.NS.B.3

Front

If you clocked in at 8:30am and worked until 4:00pm, how many hours did you work?

Back

You worked 7.5 hours.

Tags

CCSS.3.MD.A.1