Chapter 13 Flashcards
1
Q
Hourly Pay
A
a fixed wage rate per hour for a set number of hours
2
Q
Piece Rate
A
when workers are paid for each finished item they make
3
Q
Bonus
A
a special amount given as an additional reward over and above a salary or wage
4
Q
Overtime
A
a higher rate of pay given for extra hours over those agreed as a normal week. These hours are often paid at ‘time and a half’ or at ‘double pay’
5
Q
Commission
A
a system of paying employees a percentage of the value of the goods they sell. Usually paid alongside an hourly rate, but some staff can be paid commission only
6
Q
Fringe Benefit
A
a form of remuneration used to motivate staff. The perks or fringe benefits may have a monetary value but they are not added to the financial package to be spent as the employee wishes
