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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.

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Presentation on theme: "29-Apr-15Created by Mr. Lafferty Maths Dept. Wages & Salaries www.mathsrevision.com Annual Salaries / Weekly wages Hourly rate and Wages Wage Rises Commission."— Presentation transcript:

1 29-Apr-15Created by Mr. Lafferty Maths Dept. Wages & Salaries Annual Salaries / Weekly wages Hourly rate and Wages Wage Rises Commission Wages Overtime Pay Gross - Deductions = NET pay Timesheet Savings

2 29-Apr-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions

3 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. Wages & Salaries

4 29-Apr-15Created by Mr. Lafferty Maths Dept. Annual Wage / Salary :How much a person is paid in a year. Salaries & Overtime 12 months in a year 52 weeks in a year 7 days in a week

5 29-Apr-15Created by Mr. Lafferty Maths Dept. £1 500 x 12 = £ Annual salary is = Example 1 : Shaun gets paid £ in a month. What is his annual Salary. Salaries & Overtime

6 29-Apr-15Created by Mr. Lafferty Maths Dept. £239 x 52 = £ Annual Salary = Example 2 : A shop assistant gets paid £239 a week. How much is her annual salary. Salaries & Overtime

7 29-Apr-15Created by Mr. Lafferty Maths Dept. Example 3 : William gets an annual salary of £ What is his monthly wage. What is his weekly wage. Salaries & Overtime £ ÷ 12 = £ Monthly wage: Weekly wage : £ ÷ 52 = £

8 29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 3.1 MIA (page 4) Salaries & Overtime

9 29-Apr-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions

10 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. Wages & Salaries

11 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. Salaries & Overtime Hourly rate :How much you get paid for an hours work.

12 29-Apr-15Created by Mr. Lafferty Maths Dept. £6.50 x 5 = £32.50Pay is = 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

13 29-Apr-15Created by Mr. Lafferty Maths Dept. £10.50 x 40 = £420.00Pay is = Example 2 : Jim is a joiner his hourly rate of pay is £ He works 40 hours a week. What is his basic pay? Salaries & Overtime

14 29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 3.2 MIA (page 5) Salaries & Overtime

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

16 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. Wages & Salaries

17 29-Apr-15Created by Mr. Lafferty Maths Dept. Timesheet Name : Joe BloggsEmployee N Week10 InOutInOutTotal hours worked Mon Tue Wed Thurs Fri Total38.5 Remember counting Method

18 29-Apr-15Created by Mr. Lafferty Maths Dept. S4 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

19 29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 4.1 Ch 1 (page 6) Salaries & Overtime

20 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 47 o

21 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’. Wages & Salaries 2.Calculate wages with overtime.

22 29-Apr-15Created by Mr. Lafferty Maths Dept. Overtime :When you do extra work above your basic hours. 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)

23 29-Apr-15Created by Mr. Lafferty Maths Dept. S4 4 x £6 x 2 = £ hours Overtime is = 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

24 29-Apr-15Created by Mr. Lafferty Maths Dept. S4 5 x £8 x 2 = £ hours overtime is = 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 = £ hours basic time is = Total pay is = £320 + £80 = £400

25 29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 4.2 Ch 1 (page 8) Even questions Salaries & Overtime

26 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 33 o

27 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. Wages & Salaries 2.Calculate wages involving commission.

28 29-Apr-15Created by Mr. Lafferty Maths Dept. Commission :Money earned based on how much you sell. Usual expressed as a percentage. Salaries & Overtime Write some people who get commission Car sales person Double glazing sales person

29 29-Apr-15Created by Mr. Lafferty Maths Dept. S4 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 x 30 = = £150 Paid :

30 29-Apr-15Created by Mr. Lafferty Maths Dept. S4 Example 2 : Ted sells car. He is paid a commission of 5% on any cars he sells. Last week he sold £ worth of cars. How much commission was he paid ? Salaries & Overtime 5 ÷ 100 x £ = £ Commission :

31 29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 6.1 & 6.2 Ch 1 (page 11) Salaries & Overtime

32 29-Apr-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions 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.

33 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. Wages & Salaries 2.Calculate NET pay.

34 29-Apr-15Created by Mr. Lafferty Maths Dept. Gross Pay:What you are paid by the employer. Salaries & Overtime Tax National Insurance Deductions:Taken off your wages. Net Pay:Your take home pay. Write down some Pension

35 29-Apr-15Created by Mr. Lafferty Maths Dept. Example 1 : Calculate the Net wage for the following : Salaries & Overtime GrossDeductions Net Wage £ £3 400 £ £2 905 £ £5 094 £ £ £17 336

36 29-Apr-15Created by Mr. Lafferty Maths Dept. Example 2 : Calculate the Net wage for this payslip : Salaries & Overtime

37 29-Apr-15Created by Mr. Lafferty Maths Dept. Example 3 : Calculate the Net wage for this payslip : Salaries & Overtime

38 29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 7.1 Ch 1 (page 14) Salaries & Overtime

39 29-Apr-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions

40 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. Wages & Salaries

41 29-Apr-15Created by Mr. Lafferty Maths Dept. £12.50 x 6 = £75.00Saving is = Example 1 : Mick saves £12.50 each week. How much does he save in 6 weeks? Salaries & Overtime

42 29-Apr-15Created by Mr. Lafferty Maths Dept. Now try Ex 8.1 MIA (page 17) Salaries & Overtime


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