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Bryan earns $3500 in 4 weeks. Calculate his Holiday Loading.

$612.50

Ngouam earns $70 000 a year. How much does he earn a fortnight?

$2692.31

Define what a salary is and give an example of who might earn a salary.

A fixed amount per year, paid monthly, fortnightly or weekly

Define wages and how their calculated. Also provide an example

Calculated on the number of hours worked, paid at an hourly rate. Example may vary

Define what a Bonus is.

Extra money paid to employees for producing a high standard of work, meeting a deadline, and so on.

Mr. Russo earns $32 an hour as a pizza maker. How much did Mr. Russo make if he worked 40 hours in a week?

$1 280

What are 2 common rates that overtime is paid at?

Time and a half (1.5) and double time (2)

Ashton works on a public holiday at double time. His regular pay per hour is $22. How much is he paid if he works 8 hours?

$352

Define what 'overtime' is and give an example of when it is applied.

Pay for working beyond normal hours, usually involving a higher rate of pay.

Define what Commission is.

Paid to salespeople, calculated as a percentage of the value of the items sold

Tommy earns $100 000 a year as an NRL player for the Bulldogs. How much does he make a week?

$ 1923.08

What is Holiday Loading and how is it calculated?

Extra pay given during annual leave, usually 17.5% of 4 weeks’ normal pay.

Noah is an art salesman. He sells a painting worth $1 200 000. His commission rate is 2%. Calculate his commission

$24 000

If Liana earns $5000 a month, how much does she earn per week?

$1250

True or False. Holiday Pay "only includes Holiday Loading"

False. Holiday Pay= 4 weeks Pay + Holiday Loading (17.5%)

Define what a retainer is.

A retainer is a fixed amount that does not depend on sales.

Norm is paid $20 an hour. He works 30 hours at a normal rate. He works 8 hours calculated at time-and-a-half. Calculate his total pay.

$840

Define what Piecework is

Work paid for at a rate per item, often for making, processing or delivering items.