Mfww chapter 1 wages
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Mfww chapter 1 wages

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Mfww chapter 1 wages Mfww chapter 1 wages Presentation Transcript

  • Math for the World of Work Chapter 1 Wages
  • Chapter 1: Wages
    • Have you ever heard the saying, “A fool and his money are soon parted.”?
    • Our goal is to make sure you are a wise person with your money.
  • Chapter 1: Wages
    • How much money will you earn?
    • How many hours will you work?
    • Will you get the same amount of money each week?
    • What will be taken out of your paychecks?
  • Chapter 1: Wages
    • Determine earnings based on different types of pay.
    • Find the number of hours worked including overtime hours.
    • Calculate annual income.
    • Determine the number of pay periods in a year.
    • Calculate the amount earned during a pay period.
    • Understand the difference between gross pay and net pay.
    At the end of this chapter, you will be able to:
  • Chapter 1: Wages
    • On index cards, put the term below on the front of each card. The front is the BLANK SIDE. See the example below.
    Vocabulary Vocab Word Goes Here Definition Goes Here
  • Chapter 1: Wages
    • Write the word in LARGE letters, so it takes up most of the card.
    • Put your initials on every card!
    Vocabulary Hourly Rate BT
  • Chapter 1: Wages
    • Put the definition from the book on the back of the card.
    Vocabulary Amount of money paid for each hour of work.
  • Chapter 1: Wages
    • TERMS FOR CHAPTER 1:
    • Hourly Rate
    • Wage
    • Annual Wage
    • Living Wage
    • Deductions
    • Gross Pay
    • Take Home Pay/Net Pay
    Vocabulary PUT THESE TERMS ON VOCABULARY CARDS NOW USE YOUR TEXT BOOK TO LOCATE THE TERMS. THEY START ON PAGE 8.
  • Chapter 1: Wages
    • THE WAGE TREE: Fill this in.
  • Chapter 1: How to Compute Wage
    • Locate the number of HOURS you worked.
    • Multiply (X) by the amount of money you make per hour.
    HOURS X HOURLY RATE= WAGES
  • Chapter 1: How to Compute Wage PAGE 8 Exercise A 1-5 go in your NOTEBOOK 1. Elaine $8.00 40 hrs. = _____ 2. Miko $9.25 40 hrs. = _____ 3. Tony 4. Michael 5. Kareem
  • Chapter 1: Computing Wages
    • RULE:
    • When giving a MONEY ($) answer, you only use TWO numbers to the right of the decimal point. You also ALWAYS write money out that way.
    • EX: $150. 45 $23. 00
  • Chapter 1: Annual Wages
    • Annual Wages are what you would make in a full year.
    • All loans you take out will be based on what you make per year.
  • Chapter 1: How to Compute ANNUAL Wage
    • Locate the number of HOURS you worked.
    • Multiply (X) by the amount of money you make per hour.
    • Multiply (X) by the number 50. There are 50 work weeks in a year.
    HOURS X HOURLY RATE X 50 WEEKS= ANNUAL WAGES
  • Chapter 1: How to Compute Wage PAGE 9 Exercise B 1-10 go in your NOTEBOOK 1. Lily $7.00 X 40 X 50 weeks=_____ 2. Max $8.50 X 30 X 50 Weeks=_____ 3. Tim $7.25 X 10 X 50 Weeks=_____
  • Chapter 1: Annual Wages Shortcut
    • If you are computing annual wages for a full time job, there is a shortcut.
    • Instead of using weeks and hours per week, you can use the number 2,000.
    • That is because there are 2,000 hours worked at a full time job in one year.
    • EXAMPLE: 50 Weeks X 40 Hours Per Week equals 2,000 Hours.
    • Annual Wage =2,000 Hours X Hourly Rate
  • Chapter 1: How to Compute Wage
    • PAGE 10
    • Exercise C
    • 1-5 go in your NOTEBOOK
    • Hunter $8.00 X 2,000 Hours= _____
    • Stella $17.00 X 2,000 Hours=______
  • Chapter 1: Wages
    • What do you call the amount of money you make per hour?
    • What do you call the money you have earned for working?
    • What do you call the total amount of money you have earned in one year?
  • Chapter 1: Wages
    • What is the formula for finding your wage?
    • What is the formula for finding your annual wage? (without shortcut)
    • What is the shortcut to find your annual wage?
  • Chapter 1: Wages
    • What do you call money taken out of your paycheck?
    • How many decimal places go to the right of the decimal point on money problems?
    • Finish this… A fool and his money are _____ _____.