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Finacial Lit. C. Voc
Term | Definition |
---|---|
Hourly Rate | A fixed amount of money paid for each hour of work. |
Straight-time Pay | The total amount of money earned for a pay period at the regular hourly rate. |
Gross Income | The total amount paid during a pay period. |
Overtime Pay | Extra pay for hours worked beyond the regular amount of hours. |
Time and a Half | An overtime pay rate of 1 1/2 times the regular hourly rate. |
Double Time | An over time pay rate of twice the regular hourly rate. |
Weekly Time Card | A daily record of the time you report to work and the time you depart. |
Piecework | A worker receives a specified amount of money for each item of work completed. |
Salary | A fixed amount of money earned on a regular basis. |
Commission | An amount of money paid for selling a product or service. |
Commission Rate | A specified amount of money paid for each sale or a percent of the total value of sales. |
Straight Commission | Pay that consists only of money earned from sales. |
Graduated Commission | Pay based on a different rate of commission for each of several levels of sales. |