Personal Finance

Time worked beyond your regular hours is _____

• Lobbying

• Flextime

• Overtime

• Bonus

A fixed hourly rate earned by employees is a ________

• Workweek

• Telecommuting

• Gross pay

• Wage

The total amount you earn before deductions are subtracted __________

• Gross pay

• Profit Sharing

• Overtime

• Net Pay

The amounts subtracted from gross pay ______

• Net Pay

• Overtime

• Deductions

• Salary

A fixed annual amount of gross pay is ________

• Net pay

• Salary

• Deductions

• Overtime

When all deductions are taken from your gross pay, the amount left is ______

• Salary

• Wage

• Overtime

• Net pay

If your annual pay is $20,987, what is your biweekly pay based on 26 biweekly paychecks? What is your hourly rate of pay if you work 160 hours per month? What is your overtime rate?

If your annual pay is $58,745, what is your biweekly pay based on 26 biweekly paychecks? What is your hourly rate of pay if you work 160 hours per month? What is your overtime rate?

If your annual pay is $97,248, what is your biweekly pay based on 26 biweekly paychecks? What is your hourly rate of pay if you work 160 hours per month? What is your overtime rate?

Why are salaried employees often excluded from overtime pay? Do you think this is fair? Explain your answer.