Calculating Gross Pay - Weebly
Calculating Gross Earnings with Differing Methods of Compensation
What you will learn...
Terms related to compensation The formulas used to calculate gross pay
for various methods of compensation Using Excel to calculate the various
methods of compensation
What is compensation?
The money you receive for working!
Several methods of being compensated:
Straight time Overtime Double time
Salary with commission
Salary Commission Piecework
Hourly Methods of Compensation
Based on the actual hours an employee works
Straight time (40 hours a week or less) Overtime (All hours over 40 hours per week) Double time (Not required by law, but nice!)
Straight time
(Anything 40 hours a week and under) Hourly Wage Rate x Number of Hours
Worked
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