math 10-3 chapter 2: earning an income · chapter 2: earning an income 13 deductions and net pay...

Math 10-3

Chapter 2: Earning an Income Ms. Roxanne Sekura

Student Name: ________________________________________________ (Please Print)

[Love] always protects, always trusts, always hopes, always perseveres. ~ 1 Corinthians 13:7

Math 10-3 Chapter 2: Earning an Income

1

Proportional Reasoning 2.1

Page 74 of MathWorks 10

Logic ~ Just for Fun

Pet Adoption Mix-Up

Define

Divisor ~

Quotient ~


2

Review Skill ~ Working with Mixed Fractions

Example 1

Change the improper fraction to a mixed

numeral, expressed in simplest form.

Solution

Example 2

Change the improper fraction to a mixed

numeral, expressed in simplest form.

Solution

Example 3

Change the mixed number to improper

fractions.

Solution

Example 4

Change the mixed number to improper

fractions.

Solution

Build Your Skills Assignment: Page 76 - 1a through 1f and Page 77 – 2a through 2f

(Please remember to check your solutions with the back of the workbook, pg 346.)


3

Define

Gross Pay ~

Deductions ~

New Skill ~ Working with Income

Example 5

Cody works as an electrician and earns $24.68/h. It takes him 12 hours for one job. What is his

gross income?

Example 7

Jolene earns $12.50/h working at Paint it Up Pottery in Okotoks. Last week she worked the

following hours:

Monday – 2 hours

Tuesday – 4 hours

Friday – 5 hours

Saturday – 8 hours

What was her gross income for the week?

Example 7

Last year, Quinn earned $10 287.00 annually at his part-time job.

a) What was his average monthly income? (12 months/year)

b) What was his average weekly income? (52 weeks/year)

Build Your Skills Assignment: Page 78 - 3 to 5 and Page – 6 to 8



4

Example 8

Jacob is a cashier in a store. His time card is shown below.

Time Card: Jacob

Day Morning Afternoon Total Hours

IN OUT IN OUT

Monday 9:00 11:30 12:30 4:00

Tuesday 8:45 11:00 12:00 3:30

Wednesday 9:00 12:00 1:30 4:00

Thursday 9:15 11:45 1:15 4:00

Friday 9:00 12:00 1:30 4:15

Note: 15 minutes = ¼ hour or 0.25 hours

30 minutes = ½ hour or .5 hours

45 minutes = ¾ hour or 0.75 hours

a) How many hours did Jacob work from Monday to Friday?

b) If he gets paid $12.75 per hour, what was his gross income?

Build Your Skills Assignment: Page 82 - 9 & 10



5

Many full time jobs have a 40-hour week, but others may have different regular hours. If you

work more than the regular number of hours, it is classified as overtime and you will earn

overtime pay for those extra hours. Over time is often paid at “time and a half” – that is 1.5

times your regular wage- but can be any other agreed-upon time.

(Double time – 2 times your regular wage.)

New Skills: Working with Overtime Pay

Example 9

Joey works for a construction company and earns $16.25/h for a 37 ½ hour work week. He is paid

time and a half for any time that he works in excess of 37 ½ hours. If he works 42 ¾ hours on

week, how much will he earn?

Build Your Skills Assignment: Page 84 - 11 and 13


Practice Your New Skills: Page 85 - 1, 3, 5

All work must be shown.

This assignment must be submitted at the end of class for marks.

Please remember to check your solutions with the back of the workbook, pg 346.


6

Minor Quiz

Math 10 – 3 Lesson 2.1

Name: ___________________

1. Nolan works as a carpenter for $23.00/h. How much will he earn

in a 40-hour week?

2. Mason earned $55, 362.85 working last year.

a) What was his average monthly income?

b) What was his average weekly income?

3. Jessica works as a playground supervisor during the summer at a

rate of $12.50/h for a 40-hour week. She worked 3 hours of

overtime, paid time and a half, how much did she earn that week?


7

Alternative Ways to Earn Money 2.2

7 of MathWorks 10


If you continue shading the squares so that the two dotted lines become lines of symmetry

(mirror lines) of the completed diagram, how many squares will be left unshaded?

New Skill ~ Working with Income Options

Example 1

Miranda works as a tree planter during the summer, and she earns her income through piecework.

She gets paid for every seedling she plants. If she’s paid $1.50 for each seedling she plants, how

much will she be paid for planting 52 seedlings in a day?


8

Example 2

Gracyn makes bracelets and sells them at a market. She made a total of $187.50 for selling 15

bracelets. How much was she paid per bracelet?

Build Your Skills Assignment: Page 87 – questions 1 - 3, Page 89 – question 4 - 6


Example 3

Ryan works as a car salesman. He works on commission at a rate of 6.5% of his gross sales. If he

sold two vehicles in a month for a total of $45 198.00, how much commission did he earn?

Example 4

Ashton earned $1025.52 commission on his sales of $8546.00. What was his rate of commission?

Build Your Skills Assignment: 0 – questions 7 - 9, Page 91 – question 10 - 12


Practice Your New Skills: Page 95 – questions 1, 2, 3, 4





9

Minor Quiz


Name: ___________________

1. A used car dealership pays its sales people 2% commission on the

amount of their sales after cost. Kyzen sells a car for $21 200.00

that costs the company $14 500.00. How much did Kyzen make in

commission?

2. Queenie earns a base salary of $500.00 per week plus 4%

commission on any sales she makes at a clothing store. How much

will she earn if she sells $2 125.00 worth of clothing?


10

Additional Earnings 2.3



The addition sum below is a puzzle I've been trying to solve. The idea is that each type of sticker

stands for a different number, but that this number is the same wherever that sticker occurs.

So far I've got it to the picture shown in the second diagram. Can you finish it off for me?

New Skills: Working with Income Supplements

A bonus is an extra amount earned for a job well done or for exceeding expectations and is paid

in addition to regular pay and/or overtime pay. It can be a lump sum or a percentage of earnings.

Some other ways of earning extra income would be danger pay, isolation pay, a shift premium, and

tips.

Example 1

Makena works during the summer as a supervisor of a children’s program at the local community

centre. She has a fantastic reputation with the children and her employer wants her to come

back next year. Makena earned $4500.00 during the summer and her employer offers her a 20%

signing bonus if she will sign up for next year. If Makena signs up, how much will she get as a

signing bonus?


11

Example 2

Liam works as a bartender in a local pub. He made $243.00 in tips one evening. Liam has a base

salary of $9.95/h. His shift begins at 4:00 PM and finishes at midnight. What is Liam’s gross

income for the evening of work?

Build Your Skills Assignment: Page 98 - 1 through 3 and Page 103 – 7 through 9







12

Minor Quiz


Name: ___________________

1. Elyssa is a nanny. She earns $11.25/h plus room and board. If

Elyssa works over 40 hours in one week, she is paid time and a half.

If she worked 58 hours in one week, how much did she earn?

2. Josh is a barber. He charges $22.00 to cut a man’s hair plus tips.

a) If he cut hair for 15 clients, how much did he make for those

haircuts?

b) If he had $379.50 in his till, how much did he make in tips?


13

Deductions and Net Pay 2.4



Using three straight lines, divide the cabbage patch up into six sections with two cabbages in

each section.

New Skills ~ Working with Net Income

Deductions are amounts of money taken off your gross pay for income tax (federal and provincial

or territorial), union dues, disability insurance, employment insurance, (EI), pension plans

(including the CPP), and health or other benefits. Income tax is paid on your taxable income.

Some deductions are taxable, and some are not. For example, union dues and company pension

plans are before-tax deductions, and so they are not subject to federal or provincial taxes.

Your pay cheque should list your gross pay, all deductions, and your net income.

Define

Taxable Income ~

Net Income ~


14

Example 1

If your short-term disability insurance rate is 1%, what do you pay if your paycheque is $400.00?

Example 2

Brad had a gross income of $2540.84. His net income was $2153.25. What percentage of his

gross pay were his deductions?

Build Your Skills Assignment: Page 107 - 1, 3 and Page 108 - 4, 6


Example 3

Jake has a gross income of $852.00 per week. His before tax deductions include union dues of

2.5% of his gross income and a company pension plan contribution of 3%. His federal income tax

rate is 16.2% and his provincial tax rate is 5.4%. He pays 4.95% to the CPP (Canadian Pension

Plan) and 1.8% for EI. Calculate his net income.


15

Build Your Skills Assignment: Page 111 - 7,8






Minor Quiz


Name: ___________________

1. How much CPP will be taken off your $782.45 taxable income at 4.95%


16

You’ve completed all of the material for Chapter 2.

Now it’s time to show what you’ve learned.

Test Time!!!!

Your Chapter 2 exam will be in two days.

In order to prepare for the exam, please complete the following questions

from the chapter exam found on page 114 of your workbook:

Questions 2, 4, 6, 8, 10, 12.


This assignment must be submitted at the end of class for marks

Please remember to check your solutions with the back of the

workbook, pg 348.


17

Chapter 2 Project – Earning Commission

Name: ________________________

Define what it is to have commission earnings.

Discuss the implications of working strictly on a commission basis.

Would you rather work on a straight commission basis or a salary plus commission basis? Why?

How do you calculate commission?

State the commission earned in each case:

AMOUNT OF SALES ($) RATE OF COMMISSION (%) COMMISSION ($)

500.00 10

3000.00 8

7216.50 2.5

17,641.00 1.9

math 10-3 chapter 2: earning an income · chapter 2: earning an income 13 deductions and net pay...

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