Salary and Wages - Lesson 1 (Business and Finance, Senior High School)

Flashcards cover definitions of salary vs. wages, payroll period calculations, example computations, and basic wage problems from the notes.

What is the difference between salary and wages in terms of payment structure?

Salary is a fixed amount paid typically on a monthly or bi-monthly basis (salary earners). Wages are based on an hourly rate for the number of hours worked (wage earners).

What is the formula for weekly salary from an annual salary?

Weekly Salary = Annual salary / 52 weeks.

What is the formula for bi-weekly salary from an annual salary?

Bi-weekly Salary = Annual salary / 26 weeks.

What is the formula for monthly salary from an annual salary?

Monthly Salary = Annual salary / 12 months.

What is the formula for semi-monthly salary from an annual salary?

Semi-monthly Salary = Annual salary / 24 months.

What is the formula for quarterly salary from an annual salary?

Quarterly Salary = Annual salary / 4 Quarters.

Mr. Rocero's annual basic salary is Php 495,600. What is his weekly salary?

Php 9,530.77 (495,600 / 52).

Mr. Rocero's bi-weekly salary based on Php 495,600 annual salary?

Php 19,061.54 (495,600 / 26).

Mr. Rocero's monthly salary based on Php 495,600 annual salary?

Php 41,300.00 (495,600 / 12).

Mr. Rocero's semi-monthly salary based on Php 495,600 annual salary?

Php 20,650.00 (495,600 / 24).

If annual earnings include a 13th month pay, how do you compute the monthly salary?

Divide the total annual earnings by 13 (e.g., 390,000 / 13 = 30,000).

Dela Cruz earns Php 390,000 in a year including 13th month pay. What is his monthly salary?

Php 30,000.00.

What is the formula for total wage when paid by the hour?

W = nR, where n is total hours and R is hourly rate.

If someone worked 34 hours at Php 450 per hour, what is their weekly wage?

W = 34 × 450 = Php 15,300.

If total wage is Php 6,631.80 for 35 hours, what is the hourly rate?

Php 189.48 per hour (6,631.80 / 35).

In the salary-wage classification activity, is a Public School Teacher a salary earner or a wage earner?

Salary earner (SE).

In the salary-wage classification activity, is a Carpenter a salary earner or a wage earner?

Wage earner (WE).

What is the difference between salary and wages in terms of payment structure?

Salary is a fixed amount paid typically on a monthly or bi-monthly basis (salary earners). Wages are based on an hourly rate for the number of hours worked (wage earners).

What is the formula for weekly salary from an annual salary?

Weekly Salary = Annual salary / 52 weeks.

What is the formula for bi-weekly salary from an annual salary?

Bi-weekly Salary = Annual salary / 26 weeks.

What is the formula for monthly salary from an annual salary?

Monthly Salary = Annual salary / 12 months.

What is the formula for semi-monthly salary from an annual salary?

Semi-monthly Salary = Annual salary / 24 months.

What is the formula for quarterly salary from an annual salary?

Quarterly Salary = Annual salary / 4 Quarters.

Mr. Rocero's annual basic salary is Php 495,600. What is his weekly salary?

Php 9,530.77 (495,600 / 52).

Mr. Rocero's bi-weekly salary based on Php 495,600 annual salary?

Php 19,061.54 (495,600 / 26).

Mr. Rocero's monthly salary based on Php 495,600 annual salary?

Php 41,300.00 (495,600 / 12).

Mr. Rocero's semi-monthly salary based on Php 495,600 annual salary?

Php 20,650.00 (495,600 / 24).

If annual earnings include a 13th month pay, how do you compute the monthly salary?

Divide the total annual earnings by 13 (e.g., 390,000 / 13 = 30,000).

Dela Cruz earns Php 390,000 in a year including 13th month pay. What is his monthly salary?

Php 30,000.00.

What is the formula for total wage when paid by the hour?

W = nR, where n is total hours and R is hourly rate.

If someone worked 34 hours at Php 450 per hour, what is their weekly wage?

W = 34 imes 450 = Php 15,300.

If total wage is Php 6,631.80 for 35 hours, what is the hourly rate?

Php 189.48 per hour (6,631.80 / 35).