Lesson 1 and 2 - What laws govern your wages? Click on the following link - How Your Paycheck Works This article and the video's give specific details of wages. Read through the entire article (all 6 topics) and explore any areas that you may have questions about or would just like to know. Next review the formulas for hourly wages and complete the four example problems. Write down your answers and check the answers with me. If correct you may then take the test for Hourly and Salary Wages (get test from me).
Formulas for Hourly Wages:
- Straight Time Pay = Number of Hours Worked x Pay Per Hour
- Overtime Pay - (Time and a half - usually paid after 40 hours worked in a given week)= Number of Hour Worked x Hourly Pay x 1.5
- Overtime Pay - (Double Time - usually paid for working holidays) = Number of Hours Worked x Hourly Pay x 2
- Total Pay = Straight Time Pay = Overtime Pay
Work the following examples before taking the Hourly Wages and Salary Test!
1. Tom is a stocker who gets paid $7.75 per hour. He worked 35 hours this week what is his straight time pay for the week?
a. $406.88 b. $271.25 c. $542.50
2. Tina works at a day care making $6.30 per hour. She worked 40 hours this week Monday - Friday, plus 6 hours on Sat. at time and a half, and 6 hours on Sunday for training at double time. What is her total pay?
a. $132.30 b. 384.30 c. 266.30
3. Jose is making $21,000.00 at his current job per year. He has been offered a management position making $36,000.00 per year. How much more will he be making per month?
a. $1,240.00 b. $1,260.00 c. $1,250.00
4. Brittney makes $65,000.00 per year as a clothing designer of her own line. What is her weekly salary? a. $1,245.00 b. $1,255.00 c. $1,250.00
Lesson 3 - Time Cards/Paychecks - In this lesson you will create a spreadsheet in Excel with the following information: (if you do not know how to create a spreadsheet in Excel you can watch tutorials on - Atomic Learning - login: mesquite password: wowza to learn how, these tutorials are self-explanatory).
Spreadsheet Headings -
Employee Name/Hourly or Salary Wage/Hours worked this week, Sun – Sat./If more than 40 – pay at 1.5/Holiday pay-Pay at 2.0
T. Snow $6.85 per hour Hours worked -28.5
M. Parks $6.85 per hour Hours worked - 42.5 Overtime hours - 2.5
R. Rodes $7.25 per hour Hours worked -41.25 Overtime hours - 1.25 Holiday - 7.75
S. Perez $7.25 per hour Hours worked - 42.75 Overtime hours - 2.75 Holiday - 6.25
D. Reese $6.90 per hour Hours worked - 14.75
J. Hines $7.40 per hour Hours worked - 45.50 Overtime hours - 5.50 Holiday - 8.25
B. James $7.40 per hour Hours worked - 42.25 Overtime hours - 2.25 Holiday - 6.50
C. Johnson - $26,000 per yr. - Calculate salary per week
T. Ross - $25,000 per yr. - Calculate salary per week
*Note – 15 minutes = .25 30 minutes - .50 45 minutes - .75 60 minutes – 1.0
After you have completed your spreadsheet, print off and turn into me, make sure you have your name on your spreadsheet! You will be graded for accuracy of info and for putting the info into an Excel spreadsheet.
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