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Abm 005

This lesson defines key terms related to employee compensation: 1. Salary refers to fixed regular payments received by managers or administrators, typically on a monthly, semimonthly, weekly or annual basis. 2. Wages are hourly payments for manual labor based on hours worked, often at an overtime rate for excess hours over 40 in a week. 3. Income generally refers to money received for work, services, property or investments in various forms such as hourly, commission, or piecework. 4. Benefits are additional compensation like monetary or physical rewards given to employees for years of service.

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Shekinah Huerta
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291 views3 pages

Abm 005

This lesson defines key terms related to employee compensation: 1. Salary refers to fixed regular payments received by managers or administrators, typically on a monthly, semimonthly, weekly or annual basis. 2. Wages are hourly payments for manual labor based on hours worked, often at an overtime rate for excess hours over 40 in a week. 3. Income generally refers to money received for work, services, property or investments in various forms such as hourly, commission, or piecework. 4. Benefits are additional compensation like monetary or physical rewards given to employees for years of service.

Uploaded by

Shekinah Huerta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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NAME [ABM 005/Business Math]

Grade Level: 12

Lesson Title:
Define salary, wage, income, benefits

Learning Objectives:
At the end of the session, I will be able
1. To enumerate the benefits of a wage earners
2. To differentiate the benefits of a wage earners

Teacher Discussion – (20 min)


Concept Notes Taking – (5 min)
Direction: I will give you 5 minutes to take down notes that will be shown on
the Smart TV, create your own questions and summarize the topic.
QUESTIONS: NOTES:
A. TERMINOLOGIES ON SALARY AND WAGES:
Salary
 These are the earnings or the compensation for a
managerial supervisor or other administrative position.
 The payment of the salary can be received by monthly,
semimonthly, weekly or annually.
 Individual receiving this compensation is called the fixed
income earner.
Wages
 These are payments on hourly rate basis for manual labor.
 Payments made for a service rendered usually referring to
payment for total hours of work at a designated hourly
rate.
 The basis of a week period is 40 regular hours which
means a regular 8 Hour per day work. An excess gives the
employee an overtime pay.
Income
 Generally, it is the money received in return for labor or
services or from property or investment.
 Can be in a different from like an 8 hours a day work, two
hours’ work or service; can be a commission for selling a
product, some earnings from the number of pieces done
or finished.
Benefits
 Compensation either monetary or physical or in kind that
is given to an employee or group of employees for serving
years in the establishment or company.

Developmental Activity – (5 min)

Turn and Talk. Directions: I want you to turn to your buddy and discuss the
following questions. Use your time share ideas about the topic differentiate
the benefits of a wage earners.

Gross Pay = Pay Per Period × Number of Periods Worked


Generally, the fixed amount that they receive are computed as follows:
Weekly salary = annual salary
52
Bi-weekly salary = annual salary
26
Monthly salary = annual salary
12
Example 1
A manager of a plastic manufacturing company earns a monthly salary of Php
24 500.
a. What is his annual salary?
b. What is his weekly salary?
Solution
a. Given the monthly salary, the annual salary is determined as follows:

Annual salary = monthly salary ×12


= 24 500 × 12
=?
Thus, his annual salary is Php ?
b. The weekly salary is computed as follows:

Weekly salary = annual salary


52
= ?
52
=5 653. 85

Guided Practice – (5 min)

Think-Pair-Share. Directions: I want you to think with your pair to share and
answer the following problems. Identify how to compute employee
compensation.

A. Answer the following:

1. What is 40% of Php 45 000?


2. What is 3.4% of Php 9 000?
3. What is 200% of Php 30 000?
4. What is 52% of Php 15 000?
5. What is 0.5% of Php 24 000?

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