General Mathematics: Salaries, Wages, and Commissions

Fill-in-the-blank practice flashcards testing concepts, definitions, compensation types, multipliers, and word problems regarding salaries, wages, and commissions.

Money that an individual receives in exchange for providing a good/service or through investing capital is known as __________.

Income

A fixed rate pay usually quoted annually or monthly for an employee is called a __________.

Salary

Compensation that is proportional to hours worked or daily rate is defined as __________.

Wages

Form of compensation paid based on the number of items or tasks completed is called __________.

Piecework

Payment given for completing a specific task or project, such as for a freelance architect, is known as __________ compensation.

Project-Based

Overtime pay is extra pay given for working beyond 8 hours at the rate of an additional __________ of regular wage.

25%

When working on a Rest Day or Special Holiday, the daily rate multiplier used to compute total pay is __________.

$$1.30$$

When working on a Regular Holiday, the daily rate multiplier used to compute total pay is __________.

$$2.00$$

When working on a Regular Holiday that falls on a Rest Day, the daily rate multiplier used to compute total pay is __________.

$$2.60$$

Night Shift Differential applies to hours worked between 10 PM and 6 AM, calculated using an hourly rate multiplier of __________.

$$1.10$$

In a __________ commission system, an employee earns only from what they sell with no base pay.

Straight Commission

In a __________ commission system, the commission rate increases as the total sales volume increases.

Graduated Commission

Online sellers typically earn income through profits based on the margin between the cost of goods sold and the __________.

selling price

If Maria works as a barista for 8 hours a day, 5 days a week at an hourly rate of ₱60, her total weekly earnings equal __________.

₱2,400

If James works 45 hours in a week at ₱70 per hour, with 5 overtime hours paid at 1.5 times his regular rate, his total weekly wage is __________.

₱3,325

If Paolo earns an annual public-school teacher salary of ₱324,000 paid weekly over 52 weeks, his weekly pay is __________.

₱6,230.77