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Finacial Lit. C. Voc

TermDefinition
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.
Created by: 1844114269143555
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