Income Calculations

What is the formula to calculate Gross pay?

• Hourly pay rate - Total hours worked

Tags

CCSS.7.EE.B.3

An employee works for 20 hours at a rate of $20.00 per hour. He then works another 10 hours at time and half ( 1.5 x $20.00 ) What is his total income for the week.

• $400.00

• $450.00

• $300.00

• $700.00

Tags

CCSS.7.EE.B.3

Deductions from income include ( choose the most correct )

• TAX ( PAYE)

• Tax and student loans

• Tax, Kiwi Saver, Student Loans, ACC

• ACC

Tags

CCSS.6.RP.A.3B

An employee works for 15 hours at a rate of $25.00 per hour. He then works another 8 hours at time and half (1.5 x $25.00). What is his total income for the week?

• $400.00

• $375.00

• $425.00

• $450.00

Tags

CCSS.7.EE.B.3

Which of the following is not considered as a deduction from income?

• TAX (PAYE)

• Tax and student loans

• Tax, Kiwi Saver, Student Loans, ACC

• Superannuation

What is the correct formula to calculate Net pay?

• Gross pay - Deductions

• Gross pay + Deductions

• Gross pay \times Deductions

• Gross pay \div Deductions

Tags

CCSS.6.NS.B.3

Tax codes are linked to Tax rates

• True

• False

• Can be

• not linked

Which of the following is not considered as a deduction from income?

• TAX (PAYE)

• Tax and student loans

• Tax, Kiwi Saver, Student Loans, ACC

• Health insurance

Tags

CCSS.6.RP.A.3B

Student loans are based on paying 12% of every dollar you earn over a certain amount

• Work out how much gross pay is over the payment level

  Calculate 12% over the level. Deduct from Gross Pay

• 12% deducted from net Pay

• deduct 12% from gross pay

• 12% of Hourly rate

Tags

CCSS.6.RP.A.3C

What is the correct formula to calculate Overtime pay?

Tags

CCSS.7.EE.B.3