Today's Slides: October 30
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Tuesday, October 30, 2007
Monday, October 29, 2007
Choosing the best option in rising the hourly wage
In our lesson, we didn't do mental math as we usually do instead Mr. K group us into six group. Then Mr. K gave us a problem to solve. The question is about finding the new salary if a worker get a percent rise or a dollar rise in a regular wage,and which option is better take, for example:
The manager give the employee a two option to choose to rise their regular hourly wage, first option, additional $3.00 for every hours a worker work and the second option is 25% rise of their regular wage every hour. The worker regular wage per hour is $10.00.Which option should a worker take to rise his regular wage more higher?
solution:
option 1
hourly wage + additional pay= new hourly wage
$10.00 + $3.00= $13.00
option 2
percent rise/100%= decimal answer
25%/100%= 0.25
(decimals)(hourly wage)=additional pay
0.25 x $10.00= $2.50
hourly wage + additional pay=new hourly wage
$10.00+ $2.50= $12.50
The worker should choose the first option because his regular hourly wage rise $3.00 than the second option that only rise by $2.50.
goodluck in the test!!!!!!!!!!!!!!
the next scribe will be........................................JAY
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Friday, October 26, 2007
Thursday, October 25, 2007
payroll deductions
Yesterday in class we basically left off where we started.. We are now learning about payroll deductions. First we started off with the CPP, EI, and also the Income taxes. and now we are adding other things like insurances, dental plans, and union dues. for example when you have union dues they don't get taxed. Just as we did the other day.. Here's an example:
Find Al Passey's net pay for the week. His claim code is 7, his weekly salary is $385.00, and he pays union dues of $3.80, a dental plan premium of $1.85, and the usual CPP, EI, and income tax deductions. He is paid weekly.
gross: $385.00
CPP - $15.73
EI - $6.93
(gross pay)$385.00 - $3.80(union dues) = $381.20
Federal Tax - 0
Provincial Tax - $2.65
Dental Plan - $1.85
$15.73 + $6.93 + $2.65 + $1.85 = $27.16
$385.00 - $27.16 = $357.84
note: the union dues didn't count for the federal tax and the provincial tax
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Wednesday, October 24, 2007
Payroll Deductions
Today we started off with mental math as usual and since some kids had a field trip we did group work, we had to find dental and the insurence on payroll deductions, we also did some homework at the end of the class.
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