DO NOW! Change each fraction to a decimal. 1 2 1 14 4 37 10 40 23 38 40 36 Multiply. $8.00 x 16 $11.50 $6.95 x 22 x 36.775 Hourly Pay WALT… CALCULATE STRAIGHT TIME PAY; FIGURE OUT STRAIGHT-TIME, OVERTIME, AND TOTAL PAY Discussion How many of you work or have worked in the past? How are you paid? How many hours per week do you work? Calculate your average pay per week. Hourly Rate and Straight Time Pay Some jobs pay a fixed amount of money for each hour you work. For example, if you work at Monmouth Mall they may pay you $7.50 an hour. The $7.50 is the hourly rate. Suppose you work 15 hours this week. The 15 hours are important for you to calculate your straight-time pay, or the total amount of money you earn for a pay period at the hourly rate. Straight-Time Pay Formula Straight-Time Pay = Hourly Rate x Hours Worked Sample Pay Stub Straight-Time Pay Examples 1. Tia earns $8.50 per hour. How many hours will it take you to earn $1,088? 2. Samantha earns $6.75 per hour. She works 17 hours. What is her straight-time pay? WALT..figure out straight-time, overtime and total pay. How many hours do you think most adults work each week? “REGULAR HOURS” are the number of expected hours employees work each week…usually about 35-40 hours per week. Hours worked over your “REGULAR” hours are considered overtime hours worked. OVERTIME PAY When you work more than your regular hours, you might receive overtime pay. There are two standard overtime rate: Time 1 2 and a half…1 times your hourly rate OR Double time…2 times your hourly rate Double Time…If the reg rate is $8, then your double time pay is $16… $8 (2) = $16 Time and a half… If the regular rate is $8 per hour, then the time and a half rate is $8.00 + $4.00 = $12 OR $8.00 x 1.5 = $12 Formulas Overtime Pay Overtime Pay = Overtime Rate x Overtime Hours Worked Total Pay = Straight Time Pay + Overtime Pay Example Maria Kolinski is a dental hygienist. Her regular hourly rate is $27 per hour, and she receives time and a half for overtime. This week she worked 38 hours, and 5 hours of overtime. What is her straight-time pay? What is her overtime pay? What is her total pay?