Unit 2 Lesson 2 Remediation 1. The Earnings Section The Deduction Section The Personal Information Section Parts of a paycheck stub.

Unit 2 Lesson 2 Remediation 1

The Earnings Section

The Deduction

Section

The Personal Information Section

Parts of a paycheck stub.

Parts of a the Earnings Section

Hourly wage rate is the amount of money you make each hour you work.

Pay Period is the length of time that the pay check covers.

Regular hours is the number of hours worked in a week (40 or less).

Regular Pay is the amount of money earned for up to 40 hours a week.

Example: 8.75 hourly rate X 40 hours=$350.00

Overtime hours are the number of hours worked past 40 hours a week.

Overtime pay is the amount of money earned at one and one half the regular pay rate.

Example: 8.75 X 5 hours=$43.75 x 1.5=$65. 63

Gross pay is the total amount of money earned. This includes regular pay and overtime pay.

Example: $350.00 + $65.63= $415.63

Federal Income Tax

State Income Tax

FICA

Work related expenses

Medical Insurance

Step 1: Add up all of your deductions. Step 2: Subtract the deductions total from the

gross pay.

Example: Gross Pay

- Deductions Net Pay

Step 1:66.7531.1534.4315.00+6.00

153.33

Step 2:$445.00-153.33$291.67

All graphics created in MS Word and MS PowerPoint using clipart and shapes.