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29-Apr-15Created by Mr. Lafferty Maths Dept. Wages & Salaries www.mathsrevision.com Annual Salaries / Weekly wages Hourly rate and Wages Wage Rises Commission Wages Overtime Pay Gross - Deductions = NET pay Timesheet Savings

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29-Apr-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions www.mathsrevision.com

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29-Apr-15Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.Understand the term annual salary. 1.To explain how to work out annual salary / weekly wage. 2.Calculate annual salary and weekly wages. www.mathsrevision.com Wages & Salaries

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29-Apr-15Created by Mr. Lafferty Maths Dept. Annual Wage / Salary :How much a person is paid in a year. www.mathsrevision.com Salaries & Overtime 12 months in a year 52 weeks in a year 7 days in a week

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29-Apr-15Created by Mr. Lafferty Maths Dept. £1 500 x 12 = £ 18 000Annual salary is = www.mathsrevision.com Example 1 : Shaun gets paid £ 1 500 in a month. What is his annual Salary. Salaries & Overtime

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29-Apr-15Created by Mr. Lafferty Maths Dept. £239 x 52 = £ 12 428Annual Salary = www.mathsrevision.com Example 2 : A shop assistant gets paid £239 a week. How much is her annual salary. Salaries & Overtime

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29-Apr-15Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Example 3 : William gets an annual salary of £ 30 000. What is his monthly wage. What is his weekly wage. Salaries & Overtime £30 000 ÷ 12 = £ 2 500 Monthly wage: Weekly wage : £30 000 ÷ 52 = £ 576.92

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29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 3.1 MIA (page 4) www.mathsrevision.com Salaries & Overtime

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29-Apr-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions www.mathsrevision.com

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29-Apr-15Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.Understand the terms wage and salary. 1.To explain how to calculate wages. 2.Calculate wage / salary given hourly rate. www.mathsrevision.com Wages & Salaries

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29-Apr-15Created by Mr. Lafferty Maths Dept. Wages / Salary :How much a person is paid to do a job. Can be measured weekly, monthly or annually. www.mathsrevision.com Salaries & Overtime Hourly rate :How much you get paid for an hours work.

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29-Apr-15Created by Mr. Lafferty Maths Dept. £6.50 x 5 = £32.50Pay is = www.mathsrevision.com Example 1 : Mick the mechanic hourly rate of pay is £6.50. Last week he worked 5 hours. What is his basic pay? Salaries & Overtime

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29-Apr-15Created by Mr. Lafferty Maths Dept. £10.50 x 40 = £420.00Pay is = www.mathsrevision.com Example 2 : Jim is a joiner his hourly rate of pay is £10.50. He works 40 hours a week. What is his basic pay? Salaries & Overtime

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29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 3.2 MIA (page 5) www.mathsrevision.com Salaries & Overtime

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29-Apr-15Created by Mr. Lafferty Maths Dept. Starter Questions www.mathsrevision.com

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29-Apr-15Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.To work out hours worked from a time sheet using the counting method. 1.Calculate hours worked. www.mathsrevision.com Wages & Salaries

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29-Apr-15Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Timesheet Name : Joe BloggsEmployee N0. 12345 Week10 InOutInOutTotal hours worked Mon08001200130017008 Tue08001200133017308 Wed08301230130016307.5 Thurs08001300140017008 Fri08001230140016307 Total38.5 Remember counting Method

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29-Apr-15Created by Mr. Lafferty Maths Dept. S4 www.mathsrevision.com Example 1 : Frances starts work at 7.30am and finishes at 3pm. How many hours did she work. Salaries & Overtime 8.00am7.30am3pm Total 30mins + 7hours = 7hours 30 mins 30mins 7 hours

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29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 4.1 Ch 1 (page 6) www.mathsrevision.com Salaries & Overtime

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29-Apr-15Created by Mr. Lafferty Maths Dept. Starter Questions Q1. How much should I get if I work 40 hours at a rate of £7 per hour. Q3. Find 20% of 150 Q2. Find the missing angle www.mathsrevision.com 47 o

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29-Apr-15Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.To explain how to work out wages which include overtime rates. 1.Understand the terms overtime, ‘double time’. www.mathsrevision.com Wages & Salaries 2.Calculate wages with overtime.

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29-Apr-15Created by Mr. Lafferty Maths Dept. Overtime :When you do extra work above your basic hours. www.mathsrevision.com Salaries & Overtime You get a better hourly rate for overtime. Write down the two common rates of overtime Double time (x2) Time and a half (x1.5)

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29-Apr-15Created by Mr. Lafferty Maths Dept. S4 4 x £6 x 2 = £48.004 hours Overtime is = www.mathsrevision.com Example 1 : Percy the painter works for £6.00 per hour. His overtime rate is “Double time”. What does he get paid for 4 hours overtime. Salaries & Overtime

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29-Apr-15Created by Mr. Lafferty Maths Dept. S4 5 x £8 x 2 = £80.005 hours overtime is = www.mathsrevision.com Example 2 : John the gardener works a basic 40 hours a week. He does 5 hours overtime at ‘double time’ on Saturday. His hourly rate is £8 per hour. Work out his overtime pay and then his total pay. Salaries & Overtime 40 x £8 = £320.0040 hours basic time is = Total pay is = £320 + £80 = £400

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29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 4.2 Ch 1 (page 8) Even questions www.mathsrevision.com Salaries & Overtime

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29-Apr-15Created by Mr. Lafferty Maths Dept. Starter Questions Q1. How much should I get if I work 30 hours at a rate of £5 per hour. Q3. Find 25% of 50 Q2. Find the missing angle www.mathsrevision.com 33 o

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29-Apr-15Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.To explain how to work out wages when commission is involved. 1.Understand the term commission. www.mathsrevision.com Wages & Salaries 2.Calculate wages involving commission.

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29-Apr-15Created by Mr. Lafferty Maths Dept. Commission :Money earned based on how much you sell. Usual expressed as a percentage. www.mathsrevision.com Salaries & Overtime Write some people who get commission Car sales person Double glazing sales person

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29-Apr-15Created by Mr. Lafferty Maths Dept. S4 www.mathsrevision.com Example 1 : Henrik gets paid £60 for playing for his local football team. He gets a bonus of £30 for every goal he scores. If he scored a hat-trick in a game. How much was he paid. Salaries & Overtime 60 + 3 x 30 = 60 + 90 = £150 Paid :

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29-Apr-15Created by Mr. Lafferty Maths Dept. S4 www.mathsrevision.com Example 2 : Ted sells car. He is paid a commission of 5% on any cars he sells. Last week he sold £ 20 000 worth of cars. How much commission was he paid ? Salaries & Overtime 5 ÷ 100 x £20 000 = £ 1 000 Commission :

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29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 6.1 & 6.2 Ch 1 (page 11) www.mathsrevision.com Salaries & Overtime

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29-Apr-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions www.mathsrevision.com 1.Two numbers add to give 12 and divide to give 3. Find the two numbers. 2. Two numbers subtract to give 5 and multiply to 24. Find the two numbers. 3. Make your own question up.

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29-Apr-15Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.To explain how to work out NET pay. 1.Understand the terms Gross, Deductions and NET pay. www.mathsrevision.com Wages & Salaries 2.Calculate NET pay.

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29-Apr-15Created by Mr. Lafferty Maths Dept. Gross Pay:What you are paid by the employer. www.mathsrevision.com Salaries & Overtime Tax National Insurance Deductions:Taken off your wages. Net Pay:Your take home pay. Write down some Pension

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29-Apr-15Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Example 1 : Calculate the Net wage for the following : Salaries & Overtime GrossDeductions Net Wage £15 550 £3 400 £13 025 £2 905 £22 430 £5 094 £12 150 £10 120 £17 336

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29-Apr-15Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Example 2 : Calculate the Net wage for this payslip : Salaries & Overtime 704.00 149.00 555.00

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29-Apr-15Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Example 3 : Calculate the Net wage for this payslip : Salaries & Overtime 739.15 207.76 531.39

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29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 7.1 Ch 1 (page 14) www.mathsrevision.com Salaries & Overtime

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29-Apr-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions www.mathsrevision.com

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29-Apr-15Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.To explain how to calculate savings. 2.Calculate saving over a period time. www.mathsrevision.com Wages & Salaries

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29-Apr-15Created by Mr. Lafferty Maths Dept. £12.50 x 6 = £75.00Saving is = www.mathsrevision.com Example 1 : Mick saves £12.50 each week. How much does he save in 6 weeks? Salaries & Overtime

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29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 8.1 MIA (page 17) www.mathsrevision.com Salaries & Overtime

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