Chapter 1 Vocab

Question 1

Hourly Rate

Answer 1

how much you are paid per hour

Question 2

Straight-time Pay

Answer 2

total amount of money you earn for a pay period at the hourly rate

Question 3

Overtime pay

Answer 3

money you earn for working more then your regular hours

Question 4

Time and a half

Answer 4

overtime rate pay that is 1.5x your hourly rate

Question 5

Double time

Answer 5

2x your regular hourly rate

Question 6

Weekly time card

Answer 6

shows the time you reported for work and the time you departed each day of the week

Question 7

Piecework

Answer 7

you receive a specified amount of money for each item of work that you complete

Question 8

Salary

Answer 8

fixed amount of money that you earn on a regular basis

Question 9

Commission

Answer 9

a specified amount that you are paid for selling a product or service

Question 10

Commission Rate

Answer 10

a specified amount of money for each sale or it might be a percent of the total value of your sales

Question 11

Graduated commission

Answer 11

offers a different rate of commission for each of several levels of sales

Question 12

Gross pay

Answer 12

total pay earned before taxes are taken in account