Earning Money II

Overtime pay

Weekly & Hourly Rates

Warm-up: Find gross pay

5 hours at $6.13 per hour

26 ½ hours at $6.90 per hour

32 ¼ hours at $7.25 per hour

6 ¾ hours at $8.10 per hour

Overtime

This is amount of time that you work over the agreed-upon or “straight” time.

A normal work week is usually 40 hours.

You can get paid time & one-half or double time for overtime hours.

Time and one-half

Payment of 1.5 times the hourly rate for each hour of overtime.

Mary worked 43 hours at $6.30 per hour and time and one-half for all time worked over 40 hours. What is her gross pay?

Overtime: 43 – 40 = 3 hours

Time & one-half: 1.5 (3) = 4.5 hours

Total hours paid for: 40 + 4.5 = 44.5

Pay : 44.5 x $6.30 = $280.35

Carol works 44 hours at $5.20 per hour with time and one-half for all time over 40 hours. Find Carol’s gross pay.

Forty-three hours at $14 per hour with time and one-half over 40 hours.

Jim works 34 hours for $5.65 per hour with time and one-half for all time over 25 hours. Find Jim’s gross pay.

Find gross pay for 52 hours at $5.90 per hour with time and one-half after 40 hours.

Double Time:

Multiply the overtime hours by 2.

Sue worked 48 hours at a rate of $5.80 per hour and is paid double-time for any hours over 40 hours per week. Find her gross pay.

• Overtime = 48 – 40 = 8• Double Time = 8 x 2 = 16• Total Time =40 + 16 = 56 hours• Gross pay = 56 x $5.80 = $324.80

Find Luke’s pay for 48 hours if he earns $8.20 per hour with double time for any hours over 40.

Pam earn $5.50 an hour babysitting. If she works 16 hours per week and charges double time for any time over 10 hours, then how much is her gross pay?

Find the gross pay if Ed works eleven hours at $6.15 per hour with double time after 8 hours.

Remember how to divide decimals.

$136.80 30

Try (by hand):

5.848 0.085

Sometimes the yearly salary is given in a job description and we want to know what the weekly salary is…..

• There are 52 weeks in a year.

• Yearly Salary 52 = Weekly Salary

Mary is paid $12, 870 per year working as a secretary. Find Mary’s weekly salary if she works 52 weeks per year.

Find the weekly salary if the person is paid $38,780 per year.

Finding an hourly rate.

Gross Pay # hours worked = Hourly Rate

Tim’s weekly gross pay if $492. If he works 40 hours, then what is his hourly rate?

So what if my weekly salary was $355, what would my yearly salary be?