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Created by Mr. Lafferty Maths Dept.

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Presentation on theme: "Created by Mr. Lafferty Maths Dept."— Presentation transcript:

1 Created by Mr. Lafferty Maths Dept.
Wages & Salaries Hourly Rates / Wages Wages / Hourly Rates Annual Salaries Weekly / Monthly Wages Wage Rises Commission Wages Overtime Pay Gross - Deductions = NET pay 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Starter Questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Wages & Salaries Learning Intention Success Criteria To explain how to calculate wages. 1. Understand the terms wage and salary. Calculate wage / salary given hourly rate. 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Wages / Salary : How much a person is paid to do a job. Can be measured weekly, monthly or annually. Hourly rate : How much you get paid for an hours work. 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 1 : Mick the mechanic hourly rate of pay is £6.50. Last week he worked 38 hours. What is his basic pay? Pay is = £6.50 x 38 = £247.00 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime 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? Pay is = £10.50 x 40 = £420.00 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Now try Ex 1 a Ch 6 (page 64) Odd questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Starter Questions Q1. Find the value of y when 2y + 6 = 24 Q2. Find the two missing angles Q3. Find two numbers that add give 10 and divide to give 4. 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Wages & Salaries Learning Intention Success Criteria To explain how to work out hourly rates. 1. Understand the term hourly rate. Calculate hourly rates given the wage and hours worked. 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 1 : Bill the gardener is paid £ 200 a week. He works 40 hours a week. What is his hourly rate? Hourly rate is = £200 ÷ 40 = £5.00 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 2 : Paul starts a new job and is promised a hourly rate of £4.90. His wage for the week was £ for 32 hours Of work. Was the employers promise true. Pay is = £ ÷ 32 = £4.80 False ! 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Now try Ex 1 b Ch 6 (page 66) Odd questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Starter Questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Wages & Salaries Learning Intention Success Criteria To explain how to work out annual salary / wage. 1. Understand the term annual salary. Calculate annual salary. 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Annual Wage / Salary : How much a person is paid in a year. 12 months in a year 52 weeks in a year 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 1 : Shaun gets paid £ in a month. What is his annual Salary. Annual salary is = £1 500 x 12 = £ 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 2 : A shop assistant gets paid £239 a week. How much is her annual salary. Annual Salary = £239 x 52 = £ 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 3 : A mechanic gets paid £1 100 a month. A bus driver gets paid £260 a week. Who gets the better annual salary. Mechanic : Annual Salary = £1 100 x 12 = £ Bus Driver : Annual Salary = £260 x 52 = £ Bus driver has better annual wage 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Now try Ex 2 a Ch 6 (page 68) Odd questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Starter Questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Wages & Salaries Learning Intention Success Criteria To explain how to work out weekly and monthly wages from annual salary. 1. Calculate weekly and monthly wages from annual salary. 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 1 : William gets an annual salary of £ What is his monthly wage. What is his weekly wage. Monthly wage: £ ÷ 12 = £ 2 500 Weekly wage : £ ÷ 52 = £ 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Now try Ex 2 b Ch 6 (page 70) Odd questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Starter Questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Wages & Salaries Learning Intention Success Criteria To explain how to work out new wages after a wage rise. 1. Calculate a percentage rise. 2. Calculate new wages after a percentage rise. 21-Sep-18 Created by Mr. Lafferty Maths Dept.

26 How to find % of a quantity using a calculator
example Find Step 1 : Convert % to a decimal of means x Step 2 : Step 3 : Do sum Calculator Keys 4 1 x 4 8 = 19.2 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 2 : Frances earned an annual salary of £ last year. She receives a 10% rise this year. What is her new salary. Rise : 10 ÷ 100 x £ = £ 2 000 New salary : £ £2 000 = £ 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 3 : Gerry earned an annual salary of £ last year. He receives a 4% rise this year. What is his new salary. Rise : 4 ÷ 100 x £ = £ 720 New salary : £ £720 = £ 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Now try Ex 3 Ch 6 (page 72) Odd questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Starter Questions Q1. How much should I get if I work 30 hours at a rate of £5 per hour. Q2. Find the missing angle 33o Q3. Find 25% of 50 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Wages & Salaries Learning Intention Success Criteria To explain how to work out wages when commission is involved. 1. Understand the term commission. 2. Calculate wages involving commission. 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Commission : Money earned based on how much you sell. Usual expressed as a percentage. Write some people who get commission Car sales person Double glazing sales person 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 1 : 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 ? Commission : 5 ÷ 100 x £ = £ 1 000 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 2 : 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. Paid : x 30 = = £150 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Now try Ex 4 Ch 6 (page 74) Odd questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Starter Questions Q1. Find value of x when x + 4 = 16 Q2. Find two missing angles 32o Q3. Find 20 % of 150 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Wages & Salaries Learning Intention Success Criteria To explain how to work out wages which include overtime rates. 1. Understand the terms overtime, ‘double time’ and ‘time and a half’. 2. Calculate wages with overtime. 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Overtime : When you do extra work above your basic hours. 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) 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime 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. 4 hours Overtime is = 4 x £6 x 2 = £48.00 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime 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. 5 hours overtime is = 5 x £8 x 2 = £80.00 40 hours basic time is = 40 x £8 = £320.00 Total pay is = £320 + £80 = £400 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Now try Ex 5 Ch 6 (page 76) Even questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 3 : Tim the shop assistance works a basic 30 hours a week. He does 4 hours overtime at ‘time and a half’ on Sunday. His hourly rate is £6 per hour. Work out his overtime pay and then his total pay. 4 hours overtime is = 4 x £6 x 1.5 = £36.00 30 hours basic time is = 30 x £6 = £180.00 Total pay is = £36 + £180 = £216.00 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Now try Ex 5 Ch 6 (page 76) Even questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Starter Questions 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. 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Wages & Salaries Learning Intention Success Criteria To explain how to work out NET pay. 1. Understand the terms Gross, Deductions and NET pay. 2. Calculate NET pay. 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Write down some Gross Pay : What you are paid by the employer. Deductions : Taken off your wages. Net Pay : Your take home pay. Tax National Insurance Pension 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 1 : Calculate the Net wage for the following : Gross Deductions Net Wage £15 550 £3 400 £13 025 £2 905 £22 430 £5 094 £12 150 £10 120 £17 336 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 2 : Calculate the Net wage for this payslip : 704.00 149.00 555.00 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Example 3 : Calculate the Net wage for this payslip : 739.15 207.76 531.39 21-Sep-18 Created by Mr. Lafferty Maths Dept.

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Salaries & Overtime Now try Ex 6 Ch 6 (page 80) Even questions 21-Sep-18 Created by Mr. Lafferty Maths Dept.


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