How Much Are You Really Making?

NEXT

This presentation will help you to:• understand the difference between

gross and net pay• accurately calculate gross pay

required deductions and net pay

Materials Needed• Pencil• Scratch Paper• Calculator• One CLEAN sheet of

paper that will be turned into your teacher at the end of the presentation

NEXT

How Much Money Do You Actually Take Home When you Work?

Calculating Gross and Net PayNEXT

To earn money, you first need to: GET A JOB

andAGREE TO A WAGE!

WAGE:The amount of money you will be paid for working.

NEXT

WAGES can be paid:

NEXT

HOURLY

SALARIED

An agreed upon rate per hour.OVERTIME – after 40 hours, one and one-half times the regular pay.

An agreed upon rate, usually not paid for overtime.Expected to work a 40-hour standard work week. More if necessary without extra pay.

WAGES can be paid:

• Per Hour – Hourly Rate

• Per Week – Weekly Rate• Per Month – Monthly Rate•Bi-Monthly – 2 x per Month•Bi-weekly – Every 2 weeks• Per Year – Yearly Rate

NEXT

HOURLY

SALARIED

Johnny Gets Paid an Hourly Rateof $10.00

Johnny earns

10.00 Each hour

he is at work

NEXT

How Much Does Johnny Earn if he works for 5

hours?

10.00

HOURS X HOURLY RATENEXT

Johnny Earns $50.00

10.00

5 X $10.00 = $50.00 HOURS X HOURLY RATE

NEXT

Johnny’s GROSS PAY is $50.00

GROSS PAY is:Total money earned for time worked.

NEXT

Stressed-out Susie earns $5.00 per hour

What is Susie’s Gross Pay if she works for 7 hours? I think I know,

Check my AnswerShow me how to determine Susie’s Gross Pay

I think I know,

Check my Answer

Susie’s Gross Pay is:

$35.00

Oops, I guess I need help.

Click here.

Click Here if your answer was correct.

Susie Earned $35.00

5.00

7 X $5.00 = $35.00 HOURS X HOURLY RATE

NEXT

Diligent David earns $8.00 per hour delivering the

mail What is David’s Gross Pay if he works for 46 hours?

I think I know,

Check my AnswerShow me how to determine David’s Gross Pay

David’s Gross Pay is

$392.00

Click here is your answer was correct.

Oops, I guess I need help.

Click here.

David Earned $392.008.00

12.00

$320.0040 HRS

6 HRS.

X

X

=

NEXT

= $ 72.00OVERTIME RATE = REGULAR RATE X 1.5

$8.00 x 1.5 = $12.00

GROSS PAY $392.00

What if Diligent David is a salaried employee and his gross pay is $30,000 annually.

What is David’s Gross Pay if he is paid weekly?

I think I know,

Check my AnswerShow me how to determine David’s Gross Pay

David’s Weekly Gross Pay is

$576.92

Click here is your answer was correct.

Oops, I guess I need help.

Click here.

David Earned $576.92 weekly

$576.92=

NEXT

$30,000 ÷ 52 weeks

What if Diligent David is a salaried employee and his gross pay is $30,000 annually.

What is David’s Gross Pay if he is paid monthly?

I think I know,

Check my AnswerShow me how to determine David’s Gross Pay

David’s Monthly Gross Pay is

$2500

Click here is your answer was correct.

Oops, I guess I need help.

Click here.

David Earned $2500.00 monthly

$2500.00

=

NEXT

$30,000 ÷ 12 months

What if Diligent David is a salaried employee and his gross pay is $30,000 annually.

What is David’s Gross Pay if he is paid Bi-monthly?

I think I know,

Check my AnswerShow me how to determine David’s Gross Pay

David’s Bi-Monthly Gross Pay is

$1250.00

Click here is your answer was correct.

Oops, I guess I need help.

Click here.

David Earned $1250.00 monthly

$1250.00

=

NEXT

$30,000 ÷ 24 (12 months x 2)

What if Diligent David is a salaried employee and his gross pay is $30,000 annually.

What is David’s Gross Pay if he is paid Bi-weekly?

I think I know,

Check my AnswerShow me how to determine David’s Gross Pay

David’s Bi-Weekly Gross Pay is

$1153.85

Click here is your answer was correct.

Oops, I guess I need help.

Click here.

David Earned $1153.85 monthly

$1153.85

=

NEXT

$30,000 ÷ 26 (52 weeks ÷ 2)

Try calculating gross pay on your own

NEXT

Complete Activity One Now

I thought I could keep my Gross Pay! Now I know why it is called GROSS!