salary pp. 87-88 1-5 section. copyright © glencoe/mcgraw-hill mba, section 1- 5, slide 2 of 12 1-5...
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Salary pp. 87-881-5SECTIONSECTION
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Section ObjectiveSection ObjectiveDetermine:
• salary per pay period
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salary (p. 87)
A fixed amount of money earned on a regular basis, received weekly, biweekly, semimonthly, or monthly.
Pay periods
Weekly every week 52 times a year
Bi-Weekly every 2 weeks 26 times a year
Semi-Monthly 2 times a month 24 times a year
Monthly every month 12 times a year
Annually once every year 1 time a year
Key Words to KnowKey Words to Know
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Salary per Pay Period = Annual SalaryNumber of Pay Periods
FormulaFormula
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The Road to Building CastlesThe Road to Building Castles
Does your boss expect less from you when you become a salaried employee?
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Beth Huggins is a computer programmer. Her annual salary is $42,648.
What is her monthly salary?
What is her weekly salary?
Example 1Example 1
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Step: Find the salary per pay period.
Monthly: $42,648.00 ÷ 12 = $3,554.00
Weekly: $42,648.00 ÷ 52 = 52 = $820.15 $820.15
Example 1 AnswerExample 1 Answer
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Michelle Giuseffi is a police officer. Her annual salary is $40,560.
What is her biweekly salary?
Practice 1Practice 1
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Note: Bi-weekly means every 2 weeks
Michelle’s bi-weekly salary is $1,560
Practice 1 AnswerPractice 1 Answer
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Colin Evans is a hotel desk clerk who earns an annual salary of $21,216.
What is his weekly salary?
Practice 2Practice 2
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Note: There are 52 weeks in a year.
Colin’s weekly salary is $408.
Practice 2 AnswerPractice 2 Answer
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Now turn your paper over! This is where you will be doing today’s classwork!
Your assignment is: Txt p87/ 1 – 17
If you finish before the end of the period, you may work on other Classwork, otherwise this assignment will be homework!