Math 11 Earning and Spending Money Book 1: Earning Money Teacher Version Assessments and Answers Included
Year Overview: Earning and Spending Money Home Travel and Transportation Recreation and Wellness 1. Earning Money 2. Pay Statements and Deductions 3. Responsible Spending Habits 4. Data in Your Life 5. Measurement 6. Angles and Triangles 7. Let s Travel Project 8. Personal Health and Wellness 9. Puzzles and Games Topic Overview You may have already entered the workforce and have some knowledge about earning and spending money. The intent of this theme is to help you be aware of financial decision making that you face. In this topic, you will learn about the different ways that you earn money and how you are paid. Suggested Timeframe: Hours Outcomes Overlapping Outcomes M11.1 Extend understanding of arithmetic operations to rational numbers to solve problems within the home, money, recreation, and travel themes. Theme Specific Outcomes M11.8 Demonstrate understanding of income. 1
Contents Topic Overview... 1 Outcomes... 1 Overlapping Outcomes... 1 Theme Specific Outcomes... 1 Glossary of Terms... 4 Earning and Spending Money... 5 Check What You Know... 5 Vocabulary Check-Up... 5 Check Your Skills... 6 Ways We Are Paid... 7 Discuss the Ideas... 7 Math 10 Essentials BLM 2... 7 Math 10 Essentials Skills Practice 2... 7 1.1 Hourly Wages... 8 A. Understanding Hourly Wage... 8 Discuss the Ideas... 8 B. Calculating Wages and Hourly Pay... 9 1.1B Practice Your Skills: Calculating Wages and Hourly Pay... 10 Math 10 Essentials p.2-5... 12 Math 10 Essentials BM1... 12 C. Finding Gross Pay from a Time Card... 13 1.1 C Practice Your Skills: Gross Pay on Time Cards... 14 D. Understanding and Calculating Overtime Pay... 15 1.1 D Practice Your Skills: Calculating Overtime... 17 1.2 Salary... 18 A. Understanding Salary... 18 B. Calculating Salary... 18 1.2 Practice Your Skills: Calculating Weekly and Monthly Salary... 19 1.3 Commission... 20 A. Understanding Commission... 20 Discuss the Ideas... 20 B. Calculating Commission... 21 2
Math 10 Essentials BLM 4-6... 22 Math 10 Essentials p. 8-9... 22 Discuss the Ideas... 23 1.2 B Practice Your Skills: Calculating Commission... 24 1.4 Piece Work... 28 A. Understanding Piece Work... 28 Discuss the Ideas... 28 B. Calculating Piece Work... 29 1.4 Practice Your Skills: Piece Work... 30 Student Evaluation... 32 Learning Log... 34 Show What You Know: Project - Reading Timesheets... 35 Show What You Know: Project Researching Careers... 37 Math 10 Essentials pg. 16-19... 37 Show What You Know: Project - History of Minimum Wage... 38 Show What You Know: Quiz 1.1 Hourly Wages... 39 Show What You Know: Quiz - Gross Pay... 41 Show What You Know: Quiz - Piecework and Commission... 43 Show What You Know: Quiz 1.1-1.4... 44 Answers... 46 Additional Questions... 51 3
Glossary of Terms biweekly every two weeks graduated commission employees receive a higher rate of commission as the volume of sales increase gross pay total money earned before deductions income money received through work or through investments minimum wage the lowest hourly, daily or monthly pay that employers may legally pay to workers piece work the employee is paid a fixed piece rate for each unit produced or job completed regardless of the time salary fixed payment made by an employer at regular intervals salary or wage plus commission a fixed amount of money plus commision straight commission the employee receives a percentage of the total sales made time card a tool to track total time worked in a pay period 4
Earning and Spending Money Check What You Know Vocabulary Check-Up Do you know the meaning of the following words? Circle all of the words that you know. biweekly graduated commission gross pay income minimum wage piece work salary salary or wage plus commission straight commission time card Pick any 2 of the words that you know already and write down what they mean, in your own words. 1. 2. Write down all of the words that you don t know already and find out what they mean. You might ask someone else to tell you, or look them up in the dictionary or on the internet. After doing so, write down what they mean below, in your own words. 5
Check Your Skills Ask Your Teacher how many of the following questions you should complete. Calculate the following. Round your answers to two decimal places when necessary. 1. 11 x 8 = 2. 12 x 6 = 3. 21 x 5 = 4. 4 995 x 12 = 5. 1 007 x 4 = 6. $596 5 = 7. $40 455 10 = 8. $10.50 x 9 = Math skills are embedded into real life situations. In this unit, you will use the following skills: multiplication and division o whole number o decimals relating decimals, percents, and fractions fractions o adding with like and unlike denominators 9. $16.25 x 40 = 10. $37.75 x 31 = 11.$76 326. 47 9 = 12. $5 341.72 5 = 13. Convert each percent to a decimal number a) 2% = b) 25% = c) 75% = d) 1.75% = e) 10% = f) 5% = 14. Write each decimal number as a percent and as a fraction. a) 0.4 b) 0.35 c) 0.01 d) 0.015 15. Calculate a) 3 ½ + 2 = b) 6 ¼ + 1 ¾ = c) 8 ½ + 2 ¾ + 5 + 1 ½ = d) 40 5 ½ 6
Ways We Are Paid The following is a list of ways employees can be paid depending on where they work. The calculations in each of these examples will be gross pay. If you have entered the workforce, you already know there are different ways you can earn money depending on the job you are doing. Think of as many types of different paying jobs as you can to generate your list, for example: babysitting for the neighbor, delivering papers, selling jewellery through a home based party, or working at a fast food restaurant. Discuss the Ideas Do you have a job or a method of earning income? Describe the job and how you are paid. Gross pay is. Net pay is. Math 10 Essentials BLM 2 Math 10 Essentials Skills Practice 2 7
1.1 Hourly Wages A. Understanding Hourly Wage A salary, a wage, or an income is. o In some jobs, pay is calculated by the hour; while other jobs offer an annual income (paid weekly, biweekly, semimonthly or monthly). A regular work week usually consists of. Minimum wage is. o In Saskatchewan, the minimum wage is. Discuss the Ideas 1. What are several different types of jobs that fall into each category of pay? 2. Is there an advantage of being paid weekly rather than monthly? 3. If you worked at a job in which you earned an annual salary that was paid monthly, and you worked more than 40 hours in a week, how might you be compensated for your overtime work? 8
B. Calculating Wages and Hourly Pay Example 1: Calculating gross pay. Joe works at the Co-op gas bar and earns $12.50/h. In one week he works 20 hours. How much will he earn in four weeks? To calculate, multiply hourly wage x number of hours worked x number of hours per week $12.50/h x 20 h/wk x 4 wk $1000 is earned in 4 weeks. Example 2: Calculating hourly pay. Adam earns $339.25 in 23 hours working at Superstore in the produce section. To calculate, divide gross pay number of hours worked $339.25 23 h $14.75/h is Adam s hourly wage Try it out 1. Melissa works at Superstore and earns $13.00/h. In one week she works 32 hours. a. How much will she make that week? b. How much will she make in 3 weeks if she works the same amount of hours every week? 2. Alex earns $565.89 working 21 hours at Avalon Auto. How much does he make per hour? 9
1.1B Practice Your Skills: Calculating Wages and Hourly Pay 1. Savannah works as an electrician and earns $36.50/hr. If it takes her 25 hours to completely wire a basement, how much will she earn? 2. Logan works at a coffee shop, earning $16.75/hr. He works 5 hours each day. How much will his gross pay be if he works 3 days this week? 3. Patrick works at AIM Electric and makes $48.50/hr. He usually works 40 hours per week. a. How much does he make per week? b. How much will he make if he works 48 weeks in one year? (Assuming he works 40 hours each week.) 4. Ruila works at McDonald s, and worked 20 hours last week. Her gross income was $280. What is her hourly wage? 10
5. Chad works for a landscaping company and earns $388.80 in 32 hours. What is his hourly wage? 6. Benjamin drives 1A Semi Truck and earns $42/h for long haul trips. Travelling from Saskatoon to Winnipeg took him 10 hours. How much was he paid for the round trip? 7. Destiny works at Sears in the shoe department while attending SIAST. She is paid $13/h. Working around her school schedule, she was able to log the following hours: Monday 3 hours Tuesday 3 hours Wednesday 6 hours Thursday 6 hours Saturday 8 hours What is her gross income for the week? 8. Aryn is moving out and is going to live with a friend. They have found a basement suite and calculated their expenses. They each need to earn $1250 in 4 weeks. What is the lowest hourly wage she can receive to afford their new accommodations if she will work 40 hours a week? 11
Math 10 Essentials p.2-5 Math 10 Essentials BM1 12
C. Finding Gross Pay from a Time Card Anthony is a cashier at WalMart for $10.50/h. His timecard looks like: Day Morning Afternoon Total IN OUT IN OUT Hours Monday 8:30 12:45 3:30 6:00 Tuesday 8:00 10:00 3:00 5:30 Wednesday 9:00 1:00 1:30 3:30 Thursday 2:00 9:00 Friday 9:30 12:00 1:00 4:00 Total Hours Monday morning shift is 4 h and 15 min. This equals 4 ¼ hours. (Some people may think this is 4.15 hours, but it is actually 4.25 hours!) Monday afternoon shift is 2 h and 30 min. This equals 2 ½ hours. Monday s total hours equal: 4 ¼ h + 2 ½ h = 6 ¾ h Tuesday morning shift is 2 h. Tuesday afternoon shift is 2 hours and 30 min. This equals 2 ½ hours. Tuesday s total hours equal: 2 h + 2 ½ h = 4 ½ h Wednesday morning shift is 4 h Wednesday afternoon shift is 2 h. Wednesday s total hours equal: 4 h + 2 h = 6 h Thursday morning shift is 0 h. Thursday afternoon shift is 7h. Thursday s total hours equal: 0 h + 7 h = 7 h Friday morning shift is 2 h 30 min. Friday afternoon shift is 3 h. This equals 2 ½ h. Friday s total hours equal: 2 ½ h + 3 h = 5 ½ h The total number of hours worked by Anthony is equal to: 6 ¾ + 4 ½ + 6 + 7 + 5 ½ Anthony finds a common denominator. He knows that this is 4ths, so his number sentence is: 6 3 + 4 4 2 + 6 + 7 + 5 4 2 4 + = 28 7 4 = 29 3 4 Multiply Anthony s total hours by his wage to find his gross pay for the week: 29 ¾ or 29.75 x 10.50 = $312.38 13
1.1 C Practice Your Skills: Gross Pay on Time Cards 1. Jackie works at a daycare and earns $12.25 an hour. Calculate her total hours worked and her gross weekly wage based on the following time card. Day Morning Afternoon Total IN OUT IN OUT Hours Monday 8:00 12:00 12:45 4:15 Tuesday 9:00 1:30 2:00 5:30 Wednesday 9:00 1:00 1:30 4:30 Thursday 8:00 2:00 2:30 4:30 Friday 9:00 11:30 1:00 4:00 Total Hours 2. Thomas works in the back shop at a golf course and earns $10.85 an hour. Calculate his total hours worked and his gross weekly wage based on the following time card. Day Morning Afternoon Total IN OUT IN OUT Hours Monday 5:00 10:30 11:15 1:15 Tuesday 5:00 9:45 10:30 12:45 Wednesday 6:00 11:00 11:45 2:00 Thursday 6:00 11:00 11:45 2:00 Friday 5:00 10:15 11:00 2:00 Total Hours 14
D. Understanding and Calculating Overtime Pay Overtime wages are paid for any hours worked over the weekly maximum of hours. o If you have to calculate overtime pay you must multiply your hourly wage by time and a half (ex. 1.5 wage). o If you work a stat holiday you are paid double time (ex. 2 x wage). To find out more, go to: http://www.workrights.ca/ 15
Calculating Overtime Example: Brad works for a welding company and earns $27.35 per hour. This week, he is working 52 hours. How much are his earnings for the week including overtime? Step 1: Step 2: Step 3: Step 4: Step 5: Calculate his regular pay for the first 40 hours. $27.35 X 40 = $1 094 Subtract 40 from the total hours to find the number of overtime hours. 52-40 = 12 Calculate the overtime wage which is 1.5 x the regular wage. $27.35 X 1.5 = $41.03 Calculate the overtime pay. 41.03 X 12 = $492. 36 Add together the regular pay and the overtime pay to find his total earnings. $1 094 + $492.36 = $1 586.36 16
1.1 D Practice Your Skills: Calculating Overtime 1. Alison has a job with the city maintenance crew. She is paid an hourly rate of $12.50. She usually works 8 hours a day for 5 days a week. a. Find her regular earnings for one week b. If Alison works more than 40 hours a week, she is paid overtime for the extra hours. One week Alison worked 5 hours overtime. Find her total earnings for that week. 2. Jodi works 51 hours one week. (Remember that 40 hours is a regular work week) If she makes $25.50/hr., How much will she make that week? 3. You are currently working as an electrician, earning $34.00 per hour, and usually work 50 hours per week (10 of these hours are overtime hours). You are offered a position as supervisor, which earns a salary of $85 000. Should you take the promotion? 4. Dino is paid $9.50 per hour for 40 hours a week. If he works more than 40 hours a week, he is paid time and a half. His friend Len has a different job. Len is paid $9.20 per hour for 37.5 hours a week. If Len works more than 37.5 hours he is paid for overtime as well. If both work 45 hours one week, who is paid more? 17
1.2 Salary A. Understanding Salary A salary is a fixed payment made by an employer at regular intervals, usually monthly, biweekly, or occasionally weekly. Use the chart to list the advantages and disadvantages of receiving weekly or monthly pay. Pay Interval Advantages Disadvantages Weekly Gross Salary Monthly Gross Salary B. Calculating Salary An advertisement seeking people to teach English in Japan states the applicant will receive $42 000/yr. Calculate the weekly gross salary and monthly gross salary. Calculate the weekly gross salary by dividing the yearly salary by 52. $42 000 52 = $807.69 The weekly gross salary is $807.69. Calculate the monthly gross salary by dividing the yearly salary by 12. $42 000 12 = $3 500 The monthly gross salary is $3 500. 18
1.2 Practice Your Skills: Calculating Weekly and Monthly Salary 1. Judy has been hired as an accounts manager for a recycling company earning $45 000 per year. a. What is her weekly salary? b. What is her monthly salary? 2. Greg works as a sales rep for PenBook publishing. His annual salary is $36 700. a. What is her weekly salary? b. What is her monthly salary? 3. Juan is a mechanic and makes $75345 per year. a. What is her weekly salary? b. What is her monthly salary? 4. In 2014, a beginning teacher will earn $52 351 per year. What is that teacher s monthly salary if they are paid an equal amount over 12 months? 19
1.3 Commission A. Understanding Commission There are a number of different types of commission pay. They are: Straight commission is when an employee receives a percentage of the total sales made, regardless of how much he/she sold. Graduated commission is a commission which offers incentive to employees to sell more, because they receive a higher rate of commission as the volume of sales increases. Salary or wage plus commission is a fixed amount of money plus commission on top of your regular income. Discuss the Ideas 1. Predict which type of commission you think you would like to receive. Why do you think this type is best? Consider your skills as a salesperson to help you answer this question. Straight Commission Graduated commission Salary or wage plus Commission 20
B. Calculating Commission Example: The following 3 examples are referring to Eric, a car salesman who sells 12 cars, making $320,000 in total sales. Look at the calculations for Eric s earnings based on the following commission types: Straight Commission: Eric receives 2% commission of his total sales. Calculate his earnings if he sells 12 cars making $320 000 in sales. Step 1: Convert 2 % to a decimal number. 2 100 = 0.02 Step 2: Multiply total sales by 0.02 $320 000 x 0.02 = $6 400. Graduated Commission: Eric receives a percentage of total sales every month. The more he sells, the higher percentage of total sales he is paid. For the first $200 000 he is paid 1.5% commission Between $200 000 and $300 000 he is paid 1.7% commission For any amount over $300 000 he is paid 2% commission Calculate his earnings if he sells 12 cars making $320 000 in sales. Step 1: Calculate the amount of commission for the first $200 000. 200 000 x 0.015 = $3 000.00 Step 2: Calculate the amount of commission for the sales between $200 000 and $300 000 (Find the amount by subtracting 300 000 200 000 = 100 000) 100 000 x 0.017 = $1 700.00 cont 21
Salary or Wage Plus Commission: Eric receives a salary of $1500 per month as well as 1% commission of his total sales. How much money does he earn by selling 12 cars making $320 000 in sales? First find the amount he earns in commission. Step 1: Convert 1 % to a decimal number. 2 100 = 0.01 Step 2: Multiply total sales by 0.01 $320 000 x 0.01 = $3 200.00 Find his gross pay by adding commission earnings and salary. $3 200.00 + $1 500.00 = $4 700.00 Step 3: Calculate the amount of commission for the sales over $300 000 (Find the amount by subtracting 320 000 300 000 = 20 000) 20 000 x 0.02 = $400.00 Step 4: Add all the commissions together to find the total gross earnings for the month: $3 000.00 + $1 700.00 + $400.00 = $5 100.00 Math 10 Essentials BLM 4-6 Math 10 Essentials p. 8-9 22
Discuss the Ideas 1. What happens to Eric s earnings on straight commission if he only sells 3 cars, at a total of $95 000? 2. Reflect on the different calculations of Eric s earnings. Does this change the type of commission that you think you would like to be paid at? Explain your answer. 3. What types of things did you consider in your answer? 23
1.2 B Practice Your Skills: Calculating Commission Ask your teacher how many of the following questions you should complete. For each question, identify: type of commission total earnings 1. Susan works at a shoe store and earns a salary of $350 a week plus 8% commission. One week she sold $3500 worth of shoes. Find her total earnings for the week 2. Jon works part time at the Al Andersons selling hockey skates. He is paid %30 of his sales. His sales for each work day of one week are given. Calculate her earnings for the week. Monday Tuesday Wednesday Thursday Friday $87 $150 $ 200 $300 $175 3. Stuart receives a monthly salary of $750 and 4% commission on his total sales. For one month, he sold $25 000. Calculate his total earnings for the month. 24
4. Fill in the blanks for the following table: Each employee makes 25% from their sales for the week Name Mon Tues Wed Thurs Fri Beth 424 123 350 200 175 Susie 100 150 230 200 100 Pete 200 236 350 300 100 Frank 90 140 500 200 90 Rob 100 120 150 140 170 Total Sales Total Earnings 5. Stacey sells magazines subscriptions by telephone. She is paid $256 a week and receives a commission for each subscription she sells. In one week she sold the subscriptions below. Fill in the blanks on the following table and find Stacey s total earnings for the week. Magazine Price Number Total Sales Commission Rate SHE $35 10 4 Fitness $35.75 15 7 Muscle and Fitness $42.50 12 6 Glamour $45.75 9 5 Earnings Total earnings: 6. Russell is a computer retailer. He receives 4% commission on sales up to $8000, for sales between $8000 and $15000 the rate is 6%, for sales over $15000 he receives 8% on the amount over the $15000. If in December, Russ sold $33 500 worth of goods, calculate his total earnings: On the first $8000 4% On the next $7000 (Between $8000 and $15000) 6% On anything over $15000-8% 25
7. Susan sells cars for a job. In the month of September, her total sales was $120 000. If she makes 3% of her sales, how much did she earn for the month of September? 8. Jon makes a regular salary of $1450 a month as a sport store salesman. If he makes a bonus of 5% on his sales to motivate him to sell to the customers, how much extra would he make if he sells a total of $1250 for the month? What would his monthly salary be? 9. Which would be a better salary choice for Jennifer: straight commission for a job that her sales were $45631 at 4% OR a salary of $1789/month plus 2% commission of her sales? Why? 26
10. Janet sells clothing for a women s store. She makes 15% straight commission on sales from 0-$5000. Anything over this in sales, she makes 25%. Determine how much she would make if her total sales for the month of March was $6 175. 11. John sells cars. He makes 5% commission on sales up to $60 000. For sales between $60 000 and $75 000 he makes 7% and for any sales above $75 000 he makes 9%. How much did Jon earn if his sales for the month totaled $85 625? 27
1.4 Piece Work A. Understanding Piece Work Piece work is when you are paid for the amount of work you have done and not for the number of hours it has taken you to complete a task. Examples include: o tree planters o servers - tips can be considered piece work because it depends on the number of tables you have served Piece work is paid by quantity (number) of items completed or produced. Some options are: o paid on the number of items made i.e. necklaces, bird houses, cakes, etc. o paid by the number of items picked i.e. basket of strawberries, basket of apples, etc. o paid by the number of items sold, i.e. magazines, programs, tickets, etc. sold. Sometimes piece work is also based on experience if you are better at picking fruit, you might be paid more than inexperienced employee. Discuss the Ideas Use the chart to list the advantages and disadvantages of receiving pay by piecework. Advantages Disadvantages 28
B. Calculating Piece Work Example: Anne-Marie works part time at a large sports facility selling programs. She is paid by piecework. She earns $10 per game plus $1 for every program she sells. Find Anne-Marie s total earnings when she sells 93 programs at one game. How much does she make for just showing up? $10 How much does she make for each program that she sells? $1 How many programs did she sell? $93 Therefore how much money did she make from just selling programs? $93 x $1 = $93 What is her total for the night, showing up ( $$) and selling programs ( $$$$)? $10 + $93 = $103 29
1.4 Practice Your Skills: Piece Work Ask your teacher how many of the following questions you should complete. 1. Mark works at a rock concert selling programs. He is paid $15 for showing up, plus 20 cents for each program that he sells. He sells 150 programs. How much does he earn working at the rock concert? 2. Orchards employ workers to prune trees. They pay the workers from $2 to $3 per tree for this service. a. During Sean s first week of work, he prunes 150 trees at $2 per tree. What are his earnings for the week? b. Susan is experienced at pruning trees. She prunes 300 trees at $2.50 per tree in one week. What are her earnings for the week? 3. Why might the rate given in question 2 range from $2 to $3 per tree? 30
4. Why do you think that some orchards often hesitate to pay fruit pickers by the piece work? 5. Worm pickers are paid from $20 to $30 for every 1000 worms that they pick. The rate varies from evening to evening. One evening Paige is paid $28 for every 1000 worms that she picks. She picks 5000 worms. What did she make that evening? 6. How does piece work benefit the worker or the employer? 31
Student Evaluation Insufficient Evidence (IE) Student has not demonstrated the criteria below. Developing (D) Growing (G) Proficient (P) Exceptional (E) Student has rarely demonstrated the criteria below. Student has inconsistently demonstrated the criteria below. Student has consistently demonstrated the criteria below. Student has consistently demonstrated the criteria below. In addition they have shown their understanding in novel situations or at a higher level of thinking than what is expected by the criteria. Proficient Level Criteria IE D G P E M11.1 Extend understanding of arithmetic operations to rational numbers to solve problems within the home, money, recreation, and travel themes. b. I can use whole numbers, integers, fractions, decimals, and percents. c. I can compare and convert among fractions, decimals and percents. d. I can round decimals. e. I understand percents. f. I can determine if my answer is reasonable. M11.8 [WA 10.11] Demonstrate understanding of income. a. I understand there are different ways of being paid. b. I have discovered jobs that use different ways of being paid. c. I can describe the advantages and disadvantages of ways of being paid. d. I can solve problems involving work schedules and payment methods. e. I can analyze and complete timesheets. f. I can explain and assess the information provided on pay stubs. g. I can determine gross pay for additional income situations (ie. tips, overtime, commission, piecework, etc.) k. I can compare and evaluate different ways of earning income given situations. (ie. Pay for working part time vs full time). 32
33
Learning Log Date Starting Point Ending Point 34
Show What You Know: Project - Reading Timesheets Discussion Questions: 1. Do you use timesheets at your job? 2. What is the purpose of a timesheet? 3. Look at the timesheet below. How many hours and minutes did each of the employees work each day? Weekly Shift Schedule Employee Monday Tuesday Wednesday Thursday Friday Javen 12:00pm 5:00 pm 9:00 am 1:00 pm 8:30 pm 12:00 pm 8:30 pm 12:00 pm 9:00 am 1 :00 pm Holly 11:00 am 3:00 pm 11:00am 4:00 pm 3:00 pm 5:00 pm 11:30 4:00pm 11:00 am 3:30 pm Matthew 10:00 am 2:00 pm 10:00 am 1:00 pm 10:00 am 1:00 pm Lee 11:00pm 4:00 pm 8:00 am 1:00 pm 8:30 am 10:30 pm 10:30 am- 12:00 pm 9:00 am 1 :00 pm Brad 8:30 am 11:00 am 9:00 am 12:00 pm 8:30 am 11:00 am 35
4. Look at the timecard below. How is it different from a timesheet? 5. If Navreet earns minimum wage, what is his gross pay for this week?(round his time worked to the nearest hour or half hour when figuring out total hours worked.) 36
Show What You Know: Project Researching Careers Consider two careers that you are interested in and research how they would get paid in those careers. Career 1: Starting wage/salary: Method of Payment: Advantages Career 2: Starting wage/salary: Method of Payment: Advantages Disadvantages Disadvantages Choose which pay method is best for you and explain your choice. Math 10 Essentials pg. 16-19 37
Show What You Know: Project - History of Minimum Wage Date Minimum Wage per Hour 1. What is the change in minimum wage since you were born? 2. Tell one interesting fact you learned when researching minimum wage rates in Saskatchewan. 3. What will you predict minimum wage will be in Saskatchewan when you are 30 years old? 38
Show What You Know: Quiz 1.1 Hourly Wages SHOW ALL OF YOUR WORK! Name: 1. Greg works as a carpenter for $21.85/h. How much will he earn in a 40-hour work week? 2. Last year, Tara earned $40 250 working in a hair salon. a. What was her average monthly income? b. What was her average weekly income? 3. Look at the timesheet below. How many hours and minutes did Holly work this week? Weekly Shift Schedule Employee Monday Tuesday Wednesday Thursday Friday Javen 12:00pm 5:00 pm 9:00 am 1:00 pm 8:30 pm 12:00 pm 8:30 pm 12:00 pm 9:00 am 1 :00 pm Holly 11:00 am 3:00 pm 11:00am 4:00 pm 3:00 pm 5:00 pm 11:30 4:00pm 11:00 am 3:30 pm Matthew 10:00 am 2:00 pm 10:00 am 1:00 pm 10:00 am 1:00 pm Lee 11:00pm 4:00 pm 8:00 am 1:00 pm 8:30 am 10:30 pm 10:30 am- 12:00 pm 9:00 am 1 :00 pm 4. Mila is a bank teller and earned $489.65 last week. If she worked 35.5 hours, what was her hourly salary? 39
5. Brian works for a moving company. He makes $11.50 /h and typically works a regular 40 hour work week. Determine his gross earnings for a week if he worked 51 hours. 6. Sam has been offered a job that pays $497.35 for a 35 hour work week. A second company offers Sam a job earning $16.75/hour, but will only guarantee 30 hours /week. Which job would you take if you were Sam? 40
Show What You Know: Quiz - Gross Pay Show all of your work on this page. Make sure to include units ($, or $/hr, etc.) and round to 2 decimal places. 1. Emily is a flag person and earned $367.25 last week. If she worked 32.5 hours, what was her hourly salary? 2. Hal earns $9.35 an hour as a waiter. If he works 22 hours in a week, what are his total earnings for the week? 3. Jacob works 32 hours in one work week as a mechanic. If his gross income for the week is $528.00, how much is his hourly pay? 4. Lillian works in sales for a cell phone company. Her annual income is $21,600. a. How much does Lillian make per month? b. How much does Lillian make per week? 5. Suzy makes an hourly rate of $11.25/h. She usually works 7 hours a day 4 days a week. a. Find her regular earnings for one week. b. If Suzy works more than 28 hours a week she is paid overtime for the extra hours. One week Suzy worked 8 hours overtime. Find her total earnings for that week. 6. Janice works a 40 hour week as a gas fitter for a company in Saskatchewan. She earns $21.84 an hour with time and a half for any overtime. What is her gross pay for a week that she work 48 hours? 41
7. Tom works as a home support worker and earns $17.50 an hour. If he works more than 8 hours on any day, he gets paid time and a half of the hourly rate for the overtime hours on that day. His shifts for one week are shown on the following time card. DAY IN OUT Total Regular Hours Total Overtime Hours Sunday 8:00 am 5:00 pm Monday 10:00 am 6:30 pm Tuesday 12:00 pm 9:30 pm Wednesday 1:00 pm 4:30 pm Thursday Friday Saturday 8:00 am 3:30 pm a. How many regular hours did Tom work during the week? b. What was his regular pay that week? c. How many overtime hours did Tom work during the week? d. What was his overtime pay that week? e. What were his total gross earnings for the week? 42
Show What You Know: Quiz - Piecework and Commission Name: Show all of your work in the space provided. Include units ($) and round answers to two decimal places. 1. Mary works as a flower arranger. She is paid $5.75 per arrangement and she makes 25 identical flower arrangements for a wedding. How much was she paid for her work? 2. Jack cleans windows for extra income. He charges $3.00 for a main floor window and $5.00 for a second-storey window. How much will he earn if he cleans the windows on a house that has 7 main floor windows and 6 secondstorey windows? 3. Peter works in a computer store and earns 12% commission on his sales. How much does he make on a computer that sells for $745.00? 4. When selling a home, a real estate agent makes 5% commission on the first $250,000.00 of the home s selling price and 2 % on any amount over that. How much will Sue make if she sells a house worth $375,900.00? 5. David earns a salary of $375.00 per week plus 5%commission on his sales. If he sold $6521.00 of goods, how much did he make? 6. George has three employees working for her. Each employee is paid the minimum wage in SK $10.00/hour, for an 8 hour day. They are also paid a commission of 12% on all sales they make. If the three employees made sales of $785.96, $452.87, and $616.42, how much must George pay in total for the day? 43
Show What You Know: Quiz 1.1-1.4 Name: Show all of your work in the space provided. Include units ($) and round to two decimal places. 1. Ben works as a carpenter for $20.87/h. How much will he earn in a 40-hour work week? 2. Last year, Liliana earned $45 183.36 working in a hair salon. a. What was her average monthly income? b. What was her average weekly income? 3. Andy earns $34.74 per hour as a mechanic. One particularly busy week, Andy worked 53 hours. If 40 hours is his regular work week and he receives time-and-a-half for any overtime hours, calculate his gross pay for that week. 4. Look at the timesheet below. How many hours did Javen work? Weekly Shift Schedule Employee Monday Tuesday Wednesday Thursday Friday Javen 12:00pm 5:00 pm 9:00 am 1:00 pm 8:30 pm 12:00 pm 8:30 pm 12:00 pm 9:00 am 1 :00 pm Holly 11:00 am 3:00 pm 11:00am 4:00 pm 3:00 pm 5:00 pm 11:30 4:00pm 11:00 am 3:30 pm 44
5. Peter works in a sporting goods store and earns 12% commission on his sales. How much does he make on a bicycle that sells for $785.95? 6. David earns a salary of $375.00 per week plus 5%commission on his sales. If he sold $6521.00 of goods, how much did he make? 7. Mary works as a flower arranger. She is paid $5.75 per arrangement and she makes 25 identical flower arrangements for a wedding. How much was she paid for her work? 8. Andrew sells cars. He makes 8% commission on sales up to $50,000. For sales between $50,000 and $75,000 he makes 12% and for any sales above $75,000 he makes 18%. How much did Jon earn if his sales for the month totaled $92,900? 45
Answers Check Your Skills Answers 1. 88 2. 72 3. 105 4. 59 940 5. 4 028 6. $119.20 7. $4 045.50 8. $94.50 9. $650.00 10. $1 170.25 11. $8 480.72 12. $1 068.34 13. a) 0.02 b) 0.25 c) 0.75 d) 0.0175 e) 0.1 f) 0.05 14. a) 4% and 4/10 or 4/100 b) 35% and 35/100 c) 1% and 1/100 d) 1.5% and 15/1000 15. a)5 1/2 b) 8 c)17 ¾ d)44 ½ 1.1 B Practice Your Skills: Calculating Wages and Hourly Pay Answers 1. $912.50 2. $251.25 3. a. $1940 b. $93 120 4. $14/h 5. $12.15/h 6. $840 7. $338 8. $7.81/hr 46
1.1 C Practice Your Skills: Gross Pay on Time Cards Answers 1. Day Morning Afternoon Total IN OUT IN OUT Hours Monday 8:00 12:00 12:45 4:15 7 ½ h Tuesday 9:00 1:30 2:00 5:30 8 h Wednesday 9:00 1:00 1:30 4:30 7 h Thursday 8:00 2:00 2:30 4:30 8 h Friday 9:00 11:30 1:00 4:00 5 ½ h Total Hours 36 Gross weekly earnings: $441.00 2. Day Morning Afternoon Total IN OUT IN OUT Hours Monday 5:00 10:30 11:15 1:15 7 ½ h Tuesday 5:00 9:45 10:30 12:45 7 h Wednesday 6:00 11:00 11:45 2:00 7 ¼ h Thursday 6:00 11:00 11:45 2:00 7 ¼ h Friday 6:00 10:15 11:00 2:00 7 ¼ h Total Hours 36.25 Gross weekly earnings: $393.31 1.1 D Practice Your Skills: Calculating Weekly and Monthly Salary and Overtime Answers 1.a)$500/week b) $593.75 2. $1044.75 3. Yes Promotion: $97 240 4. Dino - $451.25 Len $448.50 Dino is paid more. 47
1.2 A Practice Your Skills Calculating Weekly and Monthly Salary Answers 1. a) $865.38 b) $3750 2. a) $705.77 b) $3058.33 3. a) $1 448.94 b) $6278.75 4. $4 362.58 per month 1.2 B Practice Your Skills: Calculating Commission Answers 1. Salary or wage plus commission. $630 2. Straight commission. $273.60 3. Salary or wage plus commission. $1 750 4. Name Mon Tues Wed Thurs Fri Total Total Sales Earnings Beth 424 123 350 200 175 $1 272 $318 Susie 100 150 230 200 100 $780 $195 Pete 200 236 350 300 100 $1 186 $296.50 Frank 90 140 500 200 90 $1 020 $255 Rob 100 120 150 140 170 $680 $170 5. Total earnings: $90.76 Magazine Price Number Total Sales Glamour $45.75 9 $411.75 5 $20.59 6. On the first $8000 4% On anything over $15000-8% On the next $7000 ($8000 $150000) 6% Commission Rate Earnings SHE $35 10 $350 4 $14.00 Fitness $35.75 15 $536.25 7 $25.57 Muscle and Fitness $42.50 12 $510 6 $30.60 $320.00 $420.00 $1 480 Total Earnings: $2 220 7. $3 600 8. $1 512.50 9. Salary + Commission $1 880.26. She would only receive $1 745.24 with the straight commission choice. 10. $1 043.75 11. $5 006.25 48
1.4 Practice Your Skills: Piece Work Answers 1. $45 2. a) $300 b) $750 3. Answers will vary size or type of tree may be factors to consider 4. Answers will vary. Speed, timelines, conditions of fruit may be factors to consider 5. $140 6. Answers will vary Show What You Know: Project- Reading Timesheets 3. Javen- 20 Holly- 20 Matthew- 12 ½ Lee- 18 ½ Brad- 8 4. It has IN and OUT times. It has dates. 5. $200 Show What You Know; Quiz 1.1 Hourly Wages 1. $ 874 2. a) $3 096.15 b) $774.04 3. 20hours 4. $13.79/ hour 5. $586.5 6. second company 49
Show What You Know: Quiz- Gross Pay 1. $11.30/hr 2. $205.70/wk 3. $16.50/hr 4. a) $1800 b) $415.38 5. a) $315.00 b) $135.00 6. $1 135.68 7. DAY IN OUT Total Regular Hours Total Overtime Hours Sunday 8:00 am 5:00 pm 8 1 Monday 10:00 am 6:30 pm 8 0.5 Tuesday 12:00 pm 9:30 pm 8 1.5 Wednesday 1:00 pm 4:30 pm 3.5 Thursday Friday Saturday 8:00 am 3:30 pm 7.5 a) 35 b) $612.50 c) 3 d)$78.75 e) $691.25 Show What You Know: Quiz 1.1-1.4 1. $834.80 2. a) $3765.28 b) $868.91 3. $94.31 4. $2 067.03 5. a) $11 520.00 b) $576.00 c) $2 376.00 6. $355.00 7. $10 222.00 50
Additional Questions Ask your teacher how many of the following questions you should complete. For each question, determine the gross wage earned: 1. Jane works at the recreation center for 8 hours Saturday and 6 hours on Sunday. She is paid at a rate of $10.70/h. During the week she referees 4 games of basketball and is paid $25 per game. What is her total gross wage in a week? 2. Mark is a word processor operator. He makes $11.50 /h and typically works a regular 40 hour work week. Determine his gross earnings for a week if he worked 52 hours. 3. Mary earns a gross salary of $28 000 a year. She also gets a commission of 7%. She sold $2673.19 in merchandise in her first two weeks of work. Determine her gross wage for these two weeks. 4. Sheila is a travel agent with a large clientele. Her company pays her minimum wage plus 5% commission on total sales. February is a great month for sales to warm vacations. She works 40 hours per week for each week in February, and her total sales are $40 000. Determine her gross wage. 51
5. Duke is a server at an upscale restaurant. He earns minimum wage and has worked 30 hours this week. The customers have been very generous with tips and he collected $643.00 however he must give 35% of this to the dishwashers. Determine this week s gross wage. 6. Sam has been offered a job that pays $497.35 for a 35 hour work week. A second company offers Sam a job earning $16.75/hour, but will only guarantee 30 hours /week. Which job would you take if you were Sam? 7. Two sales positions are available in retail stores. One pays an hourly rate of $11.45 for 40 hours/week. The other pays a weekly salary of $405 for the same number of hours, plus a commission of 5% of sales. If average sales for the position are $750/week, then in which position would you earn the most? 8. Robin sells houses for a major real estate company in Saskatoon and works on graduated commission. For total sales up to $300 000, she receives a commission of 1.3% and anything over $300 000 the commission rises to 2.5%. Last month Robin sold 3 houses at the following prices: $153 000, $165 000, $292 000 which totals to. Determine the gross wage this month on her total sales. 52
Answers: Additional Questions 1. $249. 80 2. $667.00 3. $ 1 264.04 4. $3 600 5. $717.95 6. $502.50 7. Hourly: $458 Wage + Commission: $442.50- this one is less but there is potential to earn more 8. $11 650 53