1. Compensation
Consumer Math

2. Overview Gross Pay Frequency of Payment Examples Benefits Compensation
Salary
Hourly
Piecework
Extra Pay
Frequency of Payment
Examples
Benefits
Compensation

3. Gross Pay Salary Hourly Piecework
Usually ____ hours per week (Full-time)
Get the job done (no overtime)
Commission
Time cards/sheets
Flex-time
Hourly
Overtime definition:
Overtime = Hourly Rate * _____
Piecework

4. Frequency of Pay Weekly – every other week (every other Tues.)
Biweekly – every two weeks
Semi-monthly – twice a month (15th and 28th)

5. Example – Piecework
Robert gets paid to bag at Shop-Rite. If he earned $0.80 per bagged bag, how many bags will he have to bag to buy new speakers for his car ($350)?
If he bags 50 bags a day during his shift, how many days until he can buy the speakers?

6. Example – Salary
Jennifer agreed on $50,000 per week with her employer. She will be paid semi-monthly. What is her gross pay per paycheck?

7. Example – Hourly
Krzysztof works at A&P and gets paid biweekly. He worked 32 hours since his last paycheck. If he earns $9 an hour, what will his next paycheck be?

8. Example – Overtime
Justin is employed at Prospero, I.N.C. on an hourly basis at $15/hour. He worked 45 hours last week. What gross pay did he earn?

9. Example – Daily Pay
Osman earns $40,000 gross on salary. How much does he earn per working day?

10. Example – Tips
Bree wants to be a waitress at Bahama Breeze. She agrees to $4 an hour from her boss and 80% of the tips that come in. If she worked 25 hours last week, and the restaurant got $300 in tips, what was her gross pay/hour last week?

11. Example - Commisions
Petar want to sell Pharmaceutical equipment. He agrees to a salary of $20,000 and a commission of 30% of sales. If he sold $150,000 in equipment, what is his gross pay for the year?

12. Benefits Bonuses Vacation Healthcare Dental 401k Cell Phone
Personal Days
Optional Holiday (Religious)
Flex-Time

13. Compensation = Salary + Benefits