CALCULATING SALARY, WAGES, OVERTIME, AND.pptx

Strengthened SHS Curriculum - General Mathematics Lesson 1

1. CALCULATING SALARY, WAGES, OVERTIME, AND COMMISSION GENERAL MATHEMATICS

2. PRE-TEST What do you call the total amount of money a person earns in one year, usually from a fixed monthly salary? Weekly Salary Annual Salary Monthly Salary All of the above

3. PRE-TEST 2) It is the income earned as a percentage of sales made Overtime Pay Commission Monthly Salary Net Pay

4. PRE-TEST 3) The total earnings before any deductions are made. Monthly Salary Gross Pay Net Pay Commission

5. PRE-TEST 4) Amounts subtracted from gross pay by law or agreement. Deductions Gross Pay Net Pay Monthly Salary

6. PRE-TEST 5) It is the amount earned for each hour worked. Hourly Wage Net Pay Overtime Pay Gross Pay

7. PRE-TEST 6) What do you call the income received in a week? Hourly Wage Monthly Salary Weekly Salary Annual Salary

8. PRE-TEST 7) The fixed amount an employee earns every month. Commission Annual Salary Weekly Salary Monthly Salary

9. PRE-TEST 8) It is the earnings based on the number of items or products completed. Commission Net Pay Gross Pay Piecework Pay

10. PRE-TEST 9) What is the extra pay given for working beyond regular hours? Piecework Pay Gross Pay Net Pay Overtime Pay

11. PRE-TEST 10) Also called "take-home pay." This is the amount left after deductions are subtracted from gross pay. Piecework Pay Overtime Pay Gross Pay Net Pay

12. Key terms and Definition 1) Annual Salary – The total amount of money a person earns in one year, usually from a fixed monthly salary. 2) Monthly Salary – The fixed amount an employee earns every month.

13. Key terms and Definition 3) Weekly Salary – The income received in a week; for salaried workers, this is calculated from the annual salary. 4) Hourly Wage – The amount earned for each hour worked.

14. Key terms and Definition 5) Overtime Pay – Extra pay given for working beyond regular hours (typically beyond 8 hours/day), usually at a higher rate (e.g., 1.25× or 1.5× the hourly rate). 6) Commission – Income earned as a percentage of sales made.

15. Key terms and Definition 7) Piecework Pay – Earnings based on the number of items or products completed. 8) Gross Pay – The total earnings before any deductions are made. Includes base salary, overtime, commission, and piecework pay.

16. Key terms and Definition 9) Net Pay – Also called "take-home pay." This is the amount left after deductions are subtracted from gross pay. 10) Deductions – Amounts subtracted from gross pay by law or agreement.

17. Key terms and Definition In the Philippines, common deductions include: SSS (Social Security System) – For retirement, sickness, maternity, and other benefits. GSIS (Government Service Insurance System) – For life insurance, retirement, etc.

18. Key terms and Definition Pag-IBIG Fund – For housing and savings programs. PhilHealth – For healthcare coverage.

19. Key terms and Definition Withholding Tax – Income tax deducted by the employer based on your salary bracket. Other deductions – Loans, cash advances, insurance premiums, or union dues (if applicable).

20. Formulas for Calculating Earnings Monthly Salary Monthly Salary = Annual Salary ÷ 12 (Converts yearly income to monthly) Weekly Salary Weekly Salary = Annual Salary ÷ 52 (Converts yearly income to weekly)

21. Formulas for Calculating Earnings Hourly Wage Hourly Wage = Total Pay ÷ Total Hours Worked (Used to find the rate per hour) Overtime Pay Overtime Pay = Hourly Rate × Overtime Hours × Multiplier (Common multipliers: 1.25 or 1.5)

22. Formulas for Calculating Earnings Commission Commission = Sales × Commission Rate (Pay based on a percentage of sales) Piecework Pay Piecework Pay = Num of Items × Rate per Item ( Pay based on productivity )

23. Formulas for Calculating Earnings Gross Pay Gross Pay = Regular Pay + Overtime + Commission + Piecework ( Total earnings before deductions ) Net Pay Net Pay = Gross Pay − Deductions (Final take-home pay after taxes and other deductions)

24. Activity 1 - Evaluate the following: Jessa earns an annual salary of ₱240,000. How much does she earn each month? Arvin earns ₱100 per hour. He works 40 regular hours and 5 overtime hours in one week. Overtime rate is 1.5×. What is his total weekly pay?

25. Activity 1 - Evaluate the following: 3) Liza earns a base salary of ₱10,000 per month plus a 10% commission on ₱80,000 worth of sales. What is her total income this month? 4) Mario is paid ₱25 per item. He assembled 400 items this week. What is his weekly pay?

26. Activity 1 - Evaluate the following: 5) Nina is a sales agent. Compute her gross and net, given the following details: Base salary: ₱12,000 Sales: ₱60,000 Commission rate: 15% Overtime: 6 hours × ₱100 × 1.25 Deductions: ₱1,500

27. Group Activity 1 – Evaluating Learning

28. Group Activity 1 – Evaluating Learning

29. Enhancement

30. Enhancement