Types of Compensation

What is hourly rate?

• How many hours you work

• How much you are paid each hour

• Getting a percent of a sale

Which number is used to begin calculating overtime (time and a half)

• 1

• 5.1

• 2

• 1.5

What is the formula to calculate gross pay?

• Hourly Rate + Hours Worked

• Hourly Rate x Hours Worked

• Hourly Rate - Hours Worked

• Hourly Rate / Hours Worked

Hourly Rate: $20

Hours Worked: 40

Gross Pay=

• 20 + 40

• 40-20

• 20 x 40

• 40/20

Salary = $120,000

I get paid once a month

Gross pay=

• 120,000/10

• 120,000/11

• 120,000/12

• 120,000 x 12

Hourly rate: $15

Overtime Hours: 5

Overtime pay=

• 15 x 5

• 1) 5 x 1.5 =

  2) Answer + 15

• 15 + 5 =

• 1) 15 x 1.5 =

  2) answer x 5 =

Sold a car: $35,000

Commission: 30%

Gross Pay:

• 35,000 + 30%

• 35,000 x 30%

• 35,000 - 30%

• 35,000 + 35,000

What is the formula to calculate the total weekly pay for an employee who works 40 hours at an hourly rate of $15?

Tags

DOK Level 1: Recall

Explain the difference between an hourly wage and a salary.

• An hourly wage is paid based on the number of hours worked, while a salary is a fixed amount paid regardless of hours worked.

• An hourly wage is a fixed amount paid regardless of hours worked, while a salary varies based on the number of hours worked.

• An hourly wage and a salary are both paid once per month.

• An hourly wage is paid once a week, while a salary is paid twice per month.

What is this room number?

• 306

• 307

• 308

• 309