Loading and Bonuses Lesson 5 cvu2021

Loading and Bonuses

• Learning Intention: Students will be shown how to calculate holiday leave, hazards loading and bonuses using percentages.

  
  

• Success Criteria: students can accurately calculate loading and bonuses using percentage calculations in a variety of contexts.

Bonuses

Managers receive a bonus if the

company achieves certain

performance targets (does well).

​

Bonus can be:

• A percentage of their salary OR

• Percentage of the company's profit.

Example 1

John is the CEO of a shoe company on a salary of $200 000 per year. John will receive a bonus of 1% of his salary for every percentage point that she increase the company profit. If he company profit grows from $3.3 million to $4.4 million in one year, calculate his bonus.

​

Example 1

John is the CEO of a shoe company on a salary of $200 000 per year. John will receive a bonus of 1% of his salary for every percentage point that she increase the company profit. If he company profit grows from $3.3 million to $4.4 million in one year, calculate his bonus.

​

Increase in profit = $4.4 m - $3.3 m = $1.1m

Percentage increase = (1.1/3.3) x 100%

Bonus = 33% x $200 000

= $66, 667

Multiple Choice

ex2: Tam's salary is $250 000 and he works for a high end gaming company. He receives a bonus o 1% for every percentage point tha the manages to increase the company profit. If the company grew from $300 000 to $500 000, calculate Tam's bonus.

• $2500

• $166 667

• $17 000

Loadings

If work is in difficult or hazardous conditions, then you may be granted an extra paying of LOADING.

Example 3

Lachlan installs lights and earns $35 per hour. He will receive a loading of $4 when he has to install very high ceilings. Calculate his week's earnings if he has worked full time and 5 of which were at a high ceiling.

Example 3

Lachlan installs lights and earns $35 per hour. He will receive a loading of $4 when he has to install very high ceilings. Calculate his week's earnings if he has worked full time and 5 of which were at a high ceiling.

​

A: 38hr - 5 hr = 33 hr at regular pay

(33 x $35) + (5 x $39.00)

=$1155 + $195

=$1350

Multiple Choice

ex4: Stacey earns $40 per hour as a private detective. She will receive a bonus of $5.50 if she has to follow her suspect in a car. Calculate her wagein a week where she works 10 hours, 2 of which she was in a car.

• 10 x $45.50

• (2x$45.50) + (8x $40.00)

• (2x$5.50) + (8x $40.00)

• (8x$5.50) + (2x $40.00)

Holiday Loading

a 4-week period with an increase of 17.5% of the usual wage

Example 5

Zaid works as a hairdresser and is paid a normal rate of $19.50 per hour for a 38-hour working week.

Q: calculate her weekly wage

Q: Calculate her holiday loading for 4 weeks.

​

Q: Calculate the total amount he received for 4 weeks.

Example 5

Zaid works as a hairdresser and is paid a normal rate of $19.50 per hour for a 38-hour working week.

Q: calculate her weekly wage

A: 38 x $19.50 = $741

Q: Calculate her holiday loading for 4 weeks.

A: 17.5% x $741 = $129.675

$129.675 x 4 weeks = $518.7

Q: Calculate the total amount he received for 4 weeks.

($741x4) + $518.7 = $3482.7

Multiple Choice

ex6: You earn 17.5% holiday loading on 4 weeks pay. How much do you earn for 4 weeks pay if you earn $800 a week ?

• 17.5% X 800 divided by 4

• 17.5 X 800 X 4

• 17.5% X 800 X 4

• 17.5% X800

Multiple Choice

Extra payment if you have to work in difficult or hazardous conditions is..

• Loading

• Bonus

• Holiday Loading

• Tip

Multiple Choice

For a 4 week period each year, you may be receiving an extra 17.5%, this is called:

• Loading

• Bonus

• Holiday Loading

• Tip

Multiple Choice

If you are a manager and your company does well, you may receive a percentage of your regular salary called

• Loading

• Bonus

• Holiday Loading

• Tip

Individual pathways Ex 11.6 p390

PRACTISE Questions:1–4, 6-8

CONSOLIDATE Questions:1–4, 6-8, 10, 12

MASTER Questions: 1–4, 6-10, 12, 13,14