how much are you really making? next this presentation will help you to: understand the difference...
TRANSCRIPT
How Much Are You Really Making?
NEXT
This presentation will help you to:• understand the difference between
gross and net pay
• accurately calculate gross pay required deductions and net pay
Materials Needed
• Pencil• Scratch Paper• Calculator• One CLEAN sheet of
paper that will be turned into your teacher at the end of the presentation
NEXT
How Much Money Do You Actually Take Home When you Work?
Calculating Gross and Net Pay
NEXT
To earn money, you first need to: GET A JOB
andAGREE TO A WAGE!
WAGE:
The amount of money you will be paid for working.
NEXT
WAGES can be paid:
NEXT
HOURLY
SALARIED
An agreed upon rate per hour.
OVERTIME – after 40 hours, one and one-half times the regular pay.
An agreed upon rate, usually not paid for overtime.
Expected to work a 40-hour standard work week. More if necessary without extra pay.
WAGES can be paid:
• Per Hour – Hourly Rate
• Per Week – Weekly Rate
• Per Month – Monthly Rate
•Bi-Monthly – 2 x per Month
•Bi-weekly – Every 2 weeks
• Per Year – Yearly RateNEXT
HOURLY
SALARIED
Johnny Gets Paid an Hourly Rateof $10.00
Johnny earns
10.00 Each hour
he is at work
NEXT
How Much Does Johnny Earn if he works for 5
hours?
10.00
HOURS X HOURLY RATENEXT
Johnny Earns $50.00
10.00
5 X $10.00 = $50.00
HOURS X HOURLY RATE
NEXT
Johnny’s GROSS PAY is $50.00
GROSS PAY is:
Total money earned for time worked.
NEXT
Stressed-out Susie earns $5.00 per hour
What is Susie’s Gross Pay if she works for 7 hours? I think I know,
Check my AnswerShow me how to determine Susie’s Gross Pay
I think I know,
Check my Answer
Susie’s Gross Pay is:
$35.00
Oops, I guess I need help.
Click here.
Click Here if your answer was correct.
Susie Earned $35.00
5.00
7 X $5.00 = $35.00
HOURS X HOURLY RATE
NEXT
Diligent David earns $8.00 per hour delivering the
mail What is David’s
Gross Pay if he works for 46 hours?
I think I know,
Check my AnswerShow me how to determine David’s Gross Pay
David’s Gross Pay is
$392.00
Click here is your answer was correct.
Oops, I guess I need help.
Click here.
David Earned $392.00
8.00
12.00
$320.0040 HRS
6 HRS.
X
X
=
NEXT
= $ 72.00
OVERTIME RATE = REGULAR RATE X 1.5
$8.00 x 1.5 = $12.00
GROSS PAY $392.00
What if Diligent David is a salaried employee and his gross pay is $30,000
annually.
What is David’s Gross Pay if he is paid weekly?
I think I know,
Check my AnswerShow me how to determine David’s Gross Pay
David’s Weekly Gross Pay is
$576.92
Click here is your answer was correct.
Oops, I guess I need help.
Click here.
David Earned $576.92 weekly
$576.92=
NEXT
$30,000 ÷ 52 weeks
What if Diligent David is a salaried employee and his gross pay is $30,000
annually.
What is David’s Gross Pay if he is paid monthly?
I think I know,
Check my AnswerShow me how to determine David’s Gross Pay
David’s Monthly Gross Pay is
$2500
Click here is your answer was correct.
Oops, I guess I need help.
Click here.
David Earned $2500.00 monthly
$2500.00
=
NEXT
$30,000 ÷ 12 months
What if Diligent David is a salaried employee and his gross pay is $30,000
annually.
What is David’s Gross Pay if he is paid Bi-monthly?
I think I know,
Check my AnswerShow me how to determine David’s Gross Pay
David’s Bi-Monthly Gross Pay is
$1250.00
Click here is your answer was correct.
Oops, I guess I need help.
Click here.
David Earned $1250.00 monthly
$1250.00
=
NEXT
$30,000 ÷ 24 (12 months x 2)
What if Diligent David is a salaried employee and his gross pay is $30,000
annually.
What is David’s Gross Pay if he is paid Bi-weekly?
I think I know,
Check my AnswerShow me how to determine David’s Gross Pay
David’s Bi-Weekly Gross Pay is
$1153.85
Click here is your answer was correct.
Oops, I guess I need help.
Click here.
David Earned $1153.85 monthly
$1153.85
=
NEXT
$30,000 ÷ 26 (52 weeks ÷ 2)
Try calculating gross pay on your own
NEXT
Complete Activity One Now
I thought I could keep my Gross Pay! Now I know why it is called GROSS!