Unit 8.1 - Gross Pay & Net Pay

What is a salary?

• A specified rate of pay per hour worked

• A cash payment on top of your normal earnings for achieving an employer-set goal

• A fixed amount of pay per month or year, regardless of hours worked

• Paid based on the percentage of sales you make for an employer

What does hourly pay refer to?

• A fixed amount of pay per month or year, regardless of hours worked

• A cash payment on top of your normal earnings for achieving an employer-set goal

• Paid based on the percentage of sales you make for an employer

• A specified rate of pay per hour (or part of an hour) worked

What is a commission?

• A specified rate of pay per hour worked

• A cash payment on top of your normal earnings for achieving an employer-set goal

• A fixed amount of pay per month or year, regardless of hours worked

• Paid based on the percentage of sales you make for an employer

What is a bonus?

• A specified rate of pay per hour worked

• A cash payment on top of your normal earnings for achieving an employer-set goal

• A fixed amount of pay per month or year, regardless of hours worked

• Paid based on the percentage of sales you make for an employer

How is gross pay calculated for hourly workers?

• Hourly rate divided by the number of hours worked

• Hourly rate plus overtime

• Hourly rate times the number of hours worked

• Fixed amount regardless of hours worked

How much does an hourly worker earn for working 5 hours at a rate of $15 per hour?

• $75

• $60

• $100

• $85

How are employees compensated for every hour over 40 per week?

• They are paid the normal rate

• They are paid double the normal rate

• They are paid 1 ½ times the normal rate

• They are not paid for hours over 40

What would be the annual gross pay for an hourly worker with an hourly rate of $12 and working 2000 hours a year?

• $12,000

• $24,000

• $18,000

• $30,000

What is the total income for 40 hours of work at a rate of $12.50 per hour?

• $490

• $500

• $510

• $520

If an hourly worker is paid $11.00 per hour and works 44 hours in a week, how much is their total wage including overtime?

• $484

• $506

• $528

• $550