Wages and Wage Rate

Employee Compensation

Open Ended

What is an Employee Compensation?

Open Ended

Why is there a need to compensate employees?

Multiple Choice

The earnings received by a worker on a piece-rate, hourly rate, or daily rate.

• Salary

• Wage

Multiple Choice

Earnings of employees paid on a monthly or annual basis.

• Salary

• Wage

Wage

Open Ended

Tammy is paid on a per-piece basis at the rate of Php 1.20 per piece. If she finishes 360 pieces a week, how much is her total earnings?

Multiple Choice

Production: 105

Piece-rate: Php 0.30

Gross Earning = ?

• Php 31.50

• Php 22.40

Multiple Choice

Production: 236

Piece-rate: Php 1.15

Gross Earning = ?

• Php 134.40

• Php 271.40

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Multiple Choice

Production: 150

Piece-rate plan:

Php 2.00 each for first 100

Php 2.50 each for all others

• Php 375

• Php 325

Multiple Choice

Production: 350

Piece-rate plan:

Php 1.75 each for first 100

Php 2.50 each for next 100

Php 3.50 each in excess of 200

• Php 1200

• Php 950

Converting Salaries

Multiple Choice

How many months are there in a year?

• 12 months

• 6 months

Multiple Choice

How many "semi-monthly" are there in a year?

• 12 semi-monthly

• 24 semi-monthly

Multiple Choice

How many "bi-monthly" are there in a year?

• 6 bi-monthly

• 12 bi-monthly

Multiple Choice

How many weeks are there in a year?

• 52 weeks

• 26 weeks

Multiple Choice

How many "bi-weekly" are there in a year?

• 52 weeks

• 26 weeks

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Open Ended

Assuming an annual salary of Php 175,000, convert it to a bi-monthly salary.

Open Ended

Assuming an annual salary of Php 175,000, convert it to a semi-monthly salary.

Open Ended

Assuming an annual salary of Php 175,000, convert it to a bi-weekly salary.

Open Ended

Assuming an annual salary of Php 175,000, convert it to a weekly salary.

Answer 2.1 Formative Assessment A & B