Chapter 1 gross income lesson 1.2 overtime pay answer key

1.1 Hourly PayWhen you get a fixed amount of money foreach hour you work.Hourly rate: amount paid per hour worked.Straight-time pay: the total amount ofmoney you earn for a pay period at thehourly rate.Calculations:Straight-Time Pay = Hourly Rate x Hours WorkedLast week you worked 40 hours at a rate of $8.40per hour. That is your straight-time pay for theweek?

1.2 Overtime PayIf you work more than your required hours, you couldreceive overtime pay.Most common types:◦Time and a half – 1½times your hourly rate.◦Double time – 2 times your hourly rate.Overtime is usually given to people who work 35-40hours a week. (Full time)Calculations:◦Overtime Pay = Overtime Rate x Overtime hours◦Total Pay (Gross Pay) = Straight-time pay + Overtime payAlonzo Perez is paid $8.20 an hour for a regular40-hour week. His overtime rate is 1½times hisregular hourly rate. This week Perez worked hisregular 40 hours plus 10 hours of overtime.

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Tags

Salary, Employment compensation, Hourly rate, Remuneration, Graduated Commission

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PART 1
Chapter 1 Gross Income
Lesson 1.1 Straight-Time Pay - Pg. 97 READ and do 1-39 ODD
1.1 SOLUTIONS
Lesson 1.2 Overtime Pay - Pg. 100 READ and do 1-29 ODD
1.2 SOLUTIONS
PART 2
Lesson 1.3 Weekly Time Card - Pg. 103 READ and do 1-9 ALL and 11-23 ODD
1.3 SOLUTIONS
PART 3
Lesson 1.4 Piecework - Pg. 106 READ and do 1-33 ODD
1.4 SOLUTIONS
Lesson 1.5 Salary - Pg. 109 READ and do 1-19 ODD
1.5 SOLUTIONS
PART 4
Lesson 1.6 Commission - PG. 112 READ and do 1-35 ODD
1.6 SOLUTIONS
PART 5
Lesson 1.7 Graduated Commission - Pg. 115 READ and do 1-13 ODD, 19-31 ODD
1.7 SOLUTIONS
PART 6
Chapter 1 Review - Pg. 119 and do 15-55 ODD
Chapter 1 Review SOLUTIONS

PART 7
Chapter 2 Net Income
Lesson 2.1 Federal Income Tax - Pg. 129 READ and do 1-25 ODD
2.1 SOLUTIONS
PART 8
Lesson 2.2 State Income Tax - Pg. 132 READ and do 1-31 ODD
2.2 SOLUTIONS
PART 9
Lesson 2.3 Graduated State Income Tax - Pg. 135 READ and do 1-17 ODD
2.3 SOLUTIONS
PART 10
Lesson 2.4 Social Security and Medicare Taxes - Pg. 137 READ and do 1-21 ODD
2.4 SOLUTIONS
PART 11
Lesson 2.5 Group Health Insurance - Pg. 139 READ and do 1-9 ODD, 13-23 ODD
2.5 SOLUTIONS
PART 12
Lesson 2.6 Statement of Earnings - Pg. 142 READ and do 1-9 ODD, 15-21 ODD
2.6 SOLUTIONS
PART 13
Chapter 2 Review - Pg. 146 Do 11-27 ODD AND 28
Chapter 2 Review SOLUTIONS

PART 14
Chapter 1 and 2 Practice Test Review
Chapter 1 Practice Test - Pg. 123 Do 1-15 ALL
SOLUTIONS
Chapter 2 Practice Test - Pg. 151 Do 1-13 ALL
SOLUTIONS