Wage Salary Commission lesson

Lesson

Hourly wage, Salary, and Commissions

Wage

The amount of money paid as an rate (example $15 per hour)

Work for wages is the most common form of work and normally is per hour.

To calculate Hourly Wage

Pay Earned = Rate paid x Hours your worked

​ E = r x h

Example of Wage

You are working for $15 per hour at a fast food store. This week you worked for 12 hours. How much money did you earn?

​ E = r x h

E = $15 x 12 hrs

Earned = $182.00

Wages

Multiple Choice

Typically, a wage is an amount you get for every?

• Second

• Minute

• Hour

• Year

Fill in the Blanks

If you baby sit for $20 per hour, how much money would you earn after working for 3.5 hours?

Fill in the Blanks

An auto mechanic earned $75 per hour, how much money would the mechanic earn after working 40 hours?

Salary

A salary is an amount of money paid for a fixed period of time of work, such as a weekly salary, monthly salary, or a yearly salary

​Example: You get paid $90 to cut your neighbors every month

To calculate Salary

There is really no calculations. You get paid the agreed amount after you work for the agreed period of time.

​Example: You agreed to work for a Weekly salary of $660 per week.

At the end of the week, you get $660.

Salary

Fill in the Blanks

A store manger earns a salary of $900 per week. After 3 weeks, how much money would he receive?

Fill in the Blanks

A store manger earns a salary of $600 per week. However, if he has to work weekends, he earns $40 per hour. This week, he had to work 5 hours during the weekend, what was his total pay (The week pay plus the extra money for the weekend.)

Commission (normally used in sales)

A portion (Percentage) of money received for making a sale. In other words, what ever you sell, you get a portion of the money.

Calculating Commission is just computing a tip.

Commission = Commission rate (%) x total amount of items sold ($)

​ C = r x t

Example of Commission

You are working for a 2% commission at a car lot. This month, you sold $150,000 worth of cars. How much commission would you recieve?

​ C = r x t

C = 0.02 x 150,000

Commission = $3,000

Commission

Multiple Choice

Which of the following is an example of a commission?

• Jose gets $21 dollars for every hour he works.

• A store manager gets a monthly pay of $1100

• A sales person recieved $45 for selling $500 worth of electronic

• Money paid for good service

Fill in the Blanks

Sparky works a Electronic store where he get paid only on commission. If he receive 5% commission and sold $8200 of TV's, how much commission would he receive?

Fill in the Blanks

Stinky works at a perfume store with the wage of $5 per hour plus 10% commission. After working 4 hours on Monday and selling $700 dollars worth of perfume, how much money did Stinky make on Monday?

Mixed Review

Draw

Draw a picture that would represent a hourly wage.

Draw

Draw a picture that would represent a Salary.

Draw

Draw a picture that would represent a Commission.

Multiple Choice

Which of the following is an example of a wage?

• Jose gets $21 dollars for every hour he works.

• A store manager gets a monthly pay of $1100

• A sales person recieved $45 for selling $500 worth of electronic

• Money paid for good service

Multiple Choice

Which of the following is an example of a Salary?

• Jose gets $21 dollars for every hour he works.

• A store manager gets a monthly pay of $1100

• A sales person recieved $45 for selling $500 worth of electronic

• Money paid for good service

Multiple Choice

Which of the following is an example of a tip(Gratuity)?

• Jose gets $21 dollars for every hour he works.

• A store manager gets a monthly pay of $1100

• A sales person recieved $45 for selling $500 worth of electronic

• Money paid for good service

Multiple Choice

Which of the following is an example of a commission?

• Ching gets $14.25 dollars for every hour he works.

• You get paid $50 a month to do your household chores.

• Every cell phone you sell, you get $20

• You get paid $500 every week plus 3% for everything you sell

Multiple Choice

Which of the following is an example of a salary plus a commission?

• Ching gets $14.25 dollars for every hour he works.

• You get paid $50 a month to do your household chores.

• Every cell phone you sell, you get $20

• You get paid $500 every week plus 3% for everything you sell

Multiple Choice

Which of the following is an example of a wage plus a commission?

• Ching gets $14.25 dollars for every hour he works plus 2% for each sale he makes.

• You get paid $50 a month to do your household chores plus $10 for food

• Every cell phone you sell, you get $20 plus a free water mellon

• You get paid $500 every week plus 3% for everything you sell

Open Ended

Write an example of wage.

(You must include the word wage in you example.)

Open Ended

Write an example of Salary.

(You must include the word Salary in you example.)

Open Ended

Write an example of Commission.

(You must include the word Commission in you example.)