Piecework Financial lesson 3 cvu2021

Piecework

Piecework (copy this down)

Payment by which a worker is paid a fixed amount for each job or task they complete

Ex1: Amanda earns $50 per instagram reel she creates for her local cafe. How much does she gets paid if she makes 12 reels?

• A: $50 x 12

• =$600

• (enough to qualify her as a social media influencer :) )

Multiple Choice

Ex2: Zayd is a paper boy. He earns $0.25 per paper he delivers. Last week he delivered 500 papers. How much did he earn?

• $125.00

• $12.50

• $150.00

A person may also be paid on a sliding scale where the pay rate increases as the number of completed tasks increases.

Example 3 (ctd)

• Vishant earns 0.0002 cent per view for the first 1000 views on his youtube video and 0.0003 per view thereafter. What will he get paid if his video gets 5000 views this week?

• A: Extra views = 5000 - 1000 = 4000 views

• Payment = (0.0002 x 1000) + (0.0003 x 4000)

• Payment = 0.2 + 1.2

• Payment = 1.4 cents for that video.

Multiple Choice

Ex4:Vishant earns 0.005 cent per view for the first 500 views on his youtube video and 0.003 per view thereafter. What will he get paid if his video gets 2000 views this week?

• (0.005 x 1500) + (0.003 x 500)

• (0.005 x 500) + (0.003 x 2000)

• 0.008x2500

• (0.005 x 500) + (0.003 x 1500)

Multiple vs. Single

Sometimes piecework is paid for multiple rather than single units.

Example 5 (ctd)

• Rhea works as a digital marketer and the company "Style Me Flowers" is paying her $45 for every 250 subscribers she gains for the company. Calculate how much money she will make if she gains 1500 new subscribers for Style Me Flowers.

• A: 1500/250

• = 6

• 6 x $45 = $270

Multiple Choice

Ex6: Manuthi works as a digital marketer and the company "Elan Treats" is paying her $5 for every 100 subscribers she gains for the company. Calculate how much money she will make if she gains 1200 new subscribers for Style Me Flowers.

• $600

• $5500

• $500

• $60

Chapter 11.4

Q1, Q3, Q5, Q7, Q8, Q9, Q11