Chapter 1 Formulas Flashcards
1
Q
How do you find the Straight-Time Pay?
A
Hourly Rate x Hours Worked
2
Q
How do you find the Overtime Pay?
A
Overtime Rate x Overtime Hours Worked
3
Q
How do you find the Total Pay?
A
Straight-Time Pay + Overtime Pay
4
Q
How do you find Total Pay when paid on a Piecework basis?
A
Rate per Item x Number of Items Produced
5
Q
How do you find the Salary per Pay Period?
A
Annual Salary/Number of Pay Periods per Year
6
Q
How many pay periods are there if the person gets a salary Monthly?
A
12
7
Q
How many pay periods are there if the person gets a salary Weekly?
A
52
8
Q
How many pay periods are there if the person gets a salary Biweekly?
A
26
9
Q
How many pay periods are there if the person gets a salary Semimonthly?
A
24
10
Q
How do you find the Commission?
A
Total Sales x Commission Rate
