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Math chapter 1

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 number of hours.
time and a half an overtime pay rate of 1.5 times the regular hourly rate.
double time an overtime 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.
Piece work 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.
Graduate commission Pay based on a different rate of commission for each of several levels of sales.
Created by: Mmike23