Presentation on theme: "SECTION 1-2 pp. 94-95 Overtime Pay."— Presentation transcript:
1 SECTION 1-2 pp Overtime Pay
2 Section Objective Figure out: straight-time pay overtime pay total pay
3 Key Words to Know overtime pay (p. 94)
Extra pay for hours worked beyond regular hours. time and a half (p. 94) An overtime pay rate of 1½ times more than the regular hourly rate.
4 Key Words to Know double time (p. 94)
An overtime pay rate of two times more than the regular hourly rate, often paid for working Sundays and holidays.
5 Formulas Overtime Pay = Overtime Rate × Overtime Hours Worked
Total Pay = Straight-Time Pay + Overtime Pay (Note: Total pay is often called gross pay.)
6 The Road to Building Castles p. 94
What are the benefits of working time and a half?
7 Example 1 Alonso Perez is paid $8.20 an hour
for a regular 40-hour week. His overtime rate is 1½ times his regular hourly rate. This week Perez worked his regular 40 hours plus 10 hours of overtime. What is his total pay?
8 Example 1 Answer: Step 1 Find the straight-time
pay.
Hourly Rate × Regular Hours Worked $8.20 × 40 = $328.00
9 Example 1 Answer: Step 2 Find the overtime pay.
Overtime Rate × Overtime Hours Worked (1.5 × $8.20) × 10 = $123.00
10 Example 1 Answer: Step 3 Find the total pay.
Straight-Time Pay + Overtime Pay $ $ = $451.00
11 Practice
1 Jiwon Chang earns $11.70 per hour plus time and a half for overtime. Last week he worked his regular 40 hours plus six hours on the weekend. What is his total pay for the week?
12 Practice 1 Answer $573.30
13 Practice 2 Nadia Campana earns a regular hourly rate of $ She earns double time for work on Sundays. Last week she worked her regular 36-hour week plus 7½ hours on Sunday. What is her total pay for the week?
14 Practice 2 Answer $1,203.60
15 END OF SECTION 1-2 Overtime Pay
1.1 Straight-time PayObjective:Calculate straight timepay.Vocabulary:Hourly rateStraight-time payGross income
Straight-Time PaySome jobs pay you a fixed amount of money for eachhour you work.HOURLY RATEExample:You receive Lps. 150 an hour to work atCinemark to sell tickets and concession stand.The manager scheduled you for 15 hours this weekSTRAIGHT –TIME PAY FORMULAStraight time pay = hourly rate x hours workedTotal amount you get paid over a time period iscalledGROSS INCOME(gross pay or grossamount)Total amount you earned
Straight-Time Pay Reading Questions1.What are the benefits of being paid anhourly rate?2.What two factors affect straight time pay?
Example 1Nicole Fiallos is a mail clerk at an advertisingfirm.She earns Lps. 250 an hour.This weekshe earned 39 ½ hours.What is her straighttime pay for week?
Concept Check 1Calculate the straight-time pay.
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Tags
Working time, Vocabulary