Unit 2 Lesson 2 Remediation 1. The Earnings Section The Deduction Section The Personal Information Section  Parts of a paycheck stub.

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Presentation transcript:

Unit 2 Lesson 2 Remediation 1

The Earnings Section The Deduction Section The Personal Information Section  Parts of a paycheck stub.

 Parts of a the Earnings Section Hourly wage rate is the amount of money you make each hour you work.

Pay Period is the length of time that the pay check covers.

Regular hours is the number of hours worked in a week (40 or less).

Regular Pay is the amount of money earned for up to 40 hours a week. Example: 8.75 hourly rate X 40 hours=$350.00

Overtime hours are the number of hours worked past 40 hours a week.

Overtime pay is the amount of money earned at one and one half the regular pay rate. Example: 8.75 X 5 hours=$43.75 x 1.5=$65. 63

Gross pay is the total amount of money earned. This includes regular pay and overtime pay. Example: $ $65.63= $415.63

Federal Income Tax State Income Tax FICA Work related expenses Medical Insurance

 Step 1: Add up all of your deductions.  Step 2: Subtract the deductions total from the gross pay. Example: Gross Pay - Deductions Net Pay

 Step 1:  Step 2: $ $291.67

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