1. Gross Earnings, Wages and Salaries Chapter 6: Payroll Section 6.1

2. Calculating gross earnings: Gross Pay = # of hours worked x hourly rate Overtime Earnings for over 40 hours per week: Typically “time and a half” Gross Pay = regular pay + overtime pay (up to 40 hr) (time above 40 hr)

3. Example 1: Calculate Gross earnings using Overtime (Time and a half) paid for hours over 40 per week. MonTuesWedThursFriSatReg. Rate OT Rate Gross Pay 6910.59.575.5$9.70_________

4. Example 2: Calculate Gross earnings using Overtime (Time and a half) paid for hours over 40 per week. MonTuesWedThursFriREG Rate OT Rate Gross Pay 8610895$8.55_____

5. Sometimes O.T. is calculated daily! (over 8 hours per day) Example 1: Luke is paid $11.20 per hour and time and a half for all hours over 8 worked per day. Find his gross earnings for the following week: MonTuesWedThursFriReg. Rate OT Rate Gross pay 898.5610.1$11.20_____

6. Pay Period Vocab Monthly: 12 paychecks per year. Semimontly: two per month = 24 paychecks per year. Biweekly: every 2 weeks = 26 paychecks per year. Weekly: 52 paychecks per year.

7. Example 1. Glen receives a weekly salary of $834. Find: Annual earnings: Monthly earnings: Semimonthly earnings: Biweekly earnings:

8. O.T. for salaried employees: Divide pay to find the hourly wage, then multiply by 1.5 for “time and a half.” Example 1: Elinor has a normal workweek of 35 hours and is paid $725.20 each week. What are her gross earnings in a week in which she works 41 hours? Example 2: Max is paid $325 for a 40 hour work week. Determine gross earnings if Max works 45 hours in one week.