Earned Income Review

Front

What is earned income?

Back

Earned income is money obtained from working, including wages, salaries, tips, and commissions.

Front

How do you calculate hourly wage from total earnings?

Back

Hourly wage = Total earnings / Total hours worked.

Tags

CCSS.6.RP.A.3B

Front

If Emily earned $270 for 12 hours of work, what is her hourly wage?

Back

$22.50

Tags

CCSS.6.RP.A.1

CCSS.6.RP.A.2

Front

What is gross pay?

Back

Gross pay is the total amount earned by an employee before any deductions such as taxes or benefits.

Tags

CCSS.6.NS.B.3

Front

How do you calculate total gross pay with a base salary and commission?

Back

Total gross pay = Base salary + (Commission rate x Total sales).

Tags

CCSS.7.EE.B.3

Front

If Mark has a base salary of $1,800 and earns a 1.2% commission on $90,000 in sales, what is his total gross pay?

Back

$2,880

Tags

CCSS.6.RP.A.3C

Front

What is a commission?

Back

A commission is a payment to an employee based on the sales they generate, typically expressed as a percentage.

Tags

CCSS.6.RP.A.3C

Front

If Emily earns a base salary of $2,400 and 2.5% commission on $150,000 in sales, what is her total gross pay?

Back

$6,150

Tags

CCSS.6.RP.A.3C

Front

How do you calculate total earnings from rides and tips for a driver?

Back

Total earnings = (Number of rides x Rate per ride) + Tips.

Tags

CCSS.7.EE.B.3

Front

If a Lyft driver completes 10 rides at $15 each and receives $75 in tips, what are his total earnings?

Back

$225

Tags

CCSS.3.OA.D.8