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Identify the steps of Selling.

Eagle Challenge. Identify the steps of Selling. Learning Target. Gross Pay. Find the gross pay per paycheck based on salary. Find the gross pay per weekly paycheck based on hourly wage. Find the gross pay per paycheck based on piecework wage.

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Identify the steps of Selling.

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  1. Eagle Challenge Identify the steps of Selling. Learning Target

  2. Gross Pay • Find the gross pay per paycheck based on salary. • Find the gross pay per weekly paycheck based on hourly wage. • Find the gross pay per paycheck based on piecework wage. • Find the gross pay per paycheck based on commission.

  3. Find the gross pay per paycheck based on salary Pay periods • Weekly: once a week or 52 times a year. • Biweekly: every two weeks or 26 times a year. • Semimonthly: twice a month or 24 times a year. • Monthly: once a month or 12 times a year.

  4. Find the gross earnings per pay period. • Ruth earns $36,000 a year. If she is paid on a weekly basis, what is her gross pay per week? • Divide $36,000 by 52 pay periods. • $692.31 • What if she is paid on a semimonthly basis? • $1,500.00

  5. Try these examples. Find the gross earnings for: • Carolyn, who earns $15,000 a year and is paid weekly. • $288.46 • Martha, who earns $48,000 a year and is paid biweekly. • $1,846.15 • Bill, who earns $35,000 a year and is paid semimonthly. • $1,458.33

  6. Key Terms • Gross earnings (gross pay): the amount earned before deductions. • Net earnings (net pay/take-home pay): the amount of your paycheck.

  7. Key Terms • Hourly rate or hourly wage: the amount of pay per hour worked based on a standard 40 hour work week. • Overtime rate: rate of pay for hours worked that exceed 40 hours per week. • Time and a half: standard overtime rate that is 1½ (or 1.5) times an hourly rate.

  8. Key Terms • Regular pay: earnings based on an hourly rate of pay. • Overtime pay: earnings based on overtime rate of pay.

  9. Find the gross pay per week based on hourly wages. • Find the regular pay by multiplying the number of hours (40 or less) by the hourly wage. • Find the overtime pay by multiplying the hourly rate by the overtime rate (usually 1.5) and then multiply that rate by the number of hours that exceed 40. • Add the figures from steps 1 and 2.

  10. Here’s an example. • Theresa worked 45 hours last week. If her hourly rate is $10.50 per hour, find her total gross earnings. • Multiply 40 x $10.50 = $420.00 • To calculate the overtime amount, multiply her hourly rate by 1.5: $10.50 x 1.5 = $15.75. • Multiply the overtime rate ($15.75) x the number of overtime hours (5): $15.75 x 5 = $78.75. • Add the regular and overtime pay: $498.75

  11. Try these examples. • The regular hourly rate in the production department for these employees is $6.50. • Overtime is paid at 1.5 • Find the weekly earnings for these employees: • Marcus worked 48 hours. • $338 • Allison worked 44 hours. • $299

  12. .3 Find the gross pay per paycheck based on piecework. • Piecework rate: amount of pay for each acceptable item produced. • Straight piecework rate: piecework rate where the pay per piece is the same no matter how many items are produced. • Differential piece rate (escalating piece rate): piecework rate that increases as more items are produced.

  13. Here’s an example • Jorge assembles microchip boards. He is paid on a differential piecework basis. • Rates are as follows: • From 1-100 $1.32 per board • From 101-300 $1.42 per board • 301 and over $1.58 per board • If he assembles 317 boards how much will he earn?

  14. Jorge’s earnings • 100 x $1.32 = $132.00 • 101-300 x $1.42= $284.00 • 17 x $1.58 = $ 26.86 • Total earnings: $442.86

  15. Find the gross pay per paycheck based on commission • Commission: earnings based on sales. • Straight commission: entire pay based on sales. • Salary plus commission: a set amount of pay plus an additional amount based on sales. • Commission rate: percent of sales that are eligible for a commission. • Quota: a minimum amount of sales that is required before a commission is applicable.

  16. Here’s an example. Shirley Garcia is a restaurant supplies salesperson and receives 5% of her total sales as commission. Her sales totaled $15,000 during a given week. Find her gross earnings. • P = 0.05 x $15,000 = $750. • Shirley’s earnings equal $750.

  17. Try this example. • Melanie Brooks works for a cosmetics company and earns $200 a week in salary plus 30% commission on all sales over $500. If she had sales of $1,250 last week, how much were her total earnings? • Her salary would be $200 plus any applicable commission. • The commission would be calculated at 30% on $750 in sales or $225. Add this amount to her base salary and the total is $425.

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