Earning Money Pathway1
Earning Money Pathway1
Earning Money Pathway1
FIRST edition
Mathematics General
(Pathway 1) Preliminary Course
new
century
maths
sue Thomson
judy Binns
series editor robert Yen
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SAMPLE CHAPTER
Earning money
Earning a living is an important part of life. In this chapter we’re going to look at some of the
ways we can earn or receive money.
By the end of this chapter, you should know how to:
• calculate wages, salaries, overtime, bonuses and allowances
• calculate annual leave loading
• calculate earnings based on commission, piecework and royalties
• calculate government allowances and pensions
• prepare a budget for managing income and expenses
How are we ever going to use this?
• Checking that pay is correct
• Checking holiday loading
• Applying for Centrelink payments
Chapter
problem
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SAMPLE CHAPTER
Hugo earns $17.04 per hour for a 37-hour week in his job in a wholesale plant nursery. He is
paid time-and-a-half for the first 5 hours of overtime per week and double time after that. If he
is required to work any unscheduled overtime he receives a $10.68 meal allowance per shift. In
addition, he receives a $1.60 allowance per hour when he is required to work in wet areas.
In the week ending May 29 he worked 43 hours which included one unscheduled overtime shift
and 6 hours working in a wet area.
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Hugo thinks his pay for the week ending 29 May is wrong. Is his gross pay correct?
Summary
A wage is an amount paid for each hour worked. Only people who work for a wage are
paid for overtime.
A salary is a fixed amount per year that does not depend upon the
number of hours worked. Teachers and other professionals
earn a salary.
Profile
Kristine – Child care worker
When I was at school I earned money by babysitting. It was
a job and it was fun. When I left school I decided to go into
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childcare. There are lots of jobs in childcare because most mums
need to go to work. I did Certificate III in Childcare at TAFE and
now I have a job I love. The best part of my job is helping children learn.
Example 1
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Kristine earns $18.23 per hour working in a long day care centre. She works a 38-hour
week.
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a How much does Kristine earn per fortnight?
b Calculate the amount Kristine earns per year.
Example 2
Solution
a There are 12 months in a year.
Monthly pay = Annual salary ÷ 12
= $59 000 ÷ 12
= $4916.67
b There are 26 fortnights in a year.
Fortnightly pay = Annual salary ÷ 26
= $59 000 ÷ 26
= $2269.23
Summary
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1 year = 26 fortnights but 1 month is not exactly 4 weeks.
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ISBN 9780170238946 1. earning money 5
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salary but it is
usually for a wanted to travel and see the world. I saw a show about volunteers
relatively small helping in developing countries and I decided to do my bit to help
amount. People
in religious
others. The aid agency paid my travel costs and provides my accommodation and the
orders and equipment I need. They also pay me a modest stipend. As a volunteer I’m making a
some volunteers difference in this community.
receive a
stipend.
1 1 Scott is a qualified ambulance paramedic. He is paid $35 per hour for a 38-hour week.
a How much does Scott earn per week?
b How much is Scott paid per fortnight?
c Calculate Scott’s annual pay.
Example
2 2 Suzanne is a solicitor. Her salary is $82 500 p.a. p.a. = per annum = per year
a How much does Suzanne earn per month?
b Calculate Suzanne’s fortnightly pay.
c How much does Suzanne earn per week?
3 Lance is paid a salary for the work he completes in an office. Each week he earns
$1300.
a Calculate Lance’s annual salary.
b Explain why Lance’s monthly pay is not $1300 × 4.
c Divide Lance’s annual salary by 12 to determine his monthly pay.
d Lance’s salary is based on 7 hours work per day, 5 days per week and 52 weeks per
year. Calculate the pay rate per hour that is the basis of Lance’s salary.
e Lance worked an additional 8 hours in the last week of June. How much extra pay
will he receive for the additional 8 hours work?
4 Xian earns $9.61 per hour at the Chinese take-away.
a Last week Xian worked 16 hours. How much did he earn?
b Today Xian earned $43.25. How long did he work?
5 Ulla receives a stipend of $22 860 from the university to assist her with her postgraduate
a
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study and research.
How much does Ulla receive per fortnight from the stipend?
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b The stipend isn’t enough to cover all of Ulla’s living expenses. She also works as a
waitress for 4 hours per night, two nights per week. She earns $18.20 per hour as a
waitress. Calculate Ulla’s total fortnightly income.
30 April– 4 May 2
7 May–11 May 1
14 May–18 May 5
21 May– 25 May 3
28 May–1 June 2
Conditions Pay
Job 2 75 hours per fortnight, work 9 days per fortnight $1450 per fortnight
a Ignoring any overtime, which job pays the most per year?
b If you were Thomas, which job would you take? Why?
Investigation
Award wages
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Log onto the Fair Work website www.fairwork.gov.au then select the ‘A–Z Modern
Awards’ to complete this investigation.
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• Research the annual minimum wage for three jobs that interest you. dummy text for
now
• Calculate the minimum weekly pay in each job.
Wages by spreadsheet
Spreadsheets are common tools in the workplace. Use the link to open the following
spreadsheet.
FPO
<insert screen shot when available>
1 Jessica doesn’t work on Mondays or Tuesdays. Each day from Wednesday to Sunday
she works from 7 a.m. to 2.30 p.m. and she has an unpaid, 30 minute lunch break.
Jessica’s wage is $11.60 per hour. Enter the information about Jessica’s job in the
spreadsheet and determine her total weekly pay.
2 a One of the formulas used in the spreadsheet is =SUM(F10:F16). What is this
formula calculating?
b What spreadsheet formula in cell F18 could be used to determine the total
amount that Jessica is paid each week?
3 The following table shows the hours worked during the first week in February and
the corresponding pay rates for the employees in a small office.
a The hours each employee works per week and their hourly rate of pay could
change. Construct a spreadsheet that will allow you to calculate each employee’s
wage and the total office wage bill when the number of hours worked and the
rates of pay could change.
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b During the second week in February each employee received a $2 per hour wage
increase; Imran worked 32 hours and the other employees worked for the same
number of hours as in the previous week. Use the spreadsheet you constructed to
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determine the total wages bill for the second week in February.
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we took Pa for a one week holiday in a respite centre the
centre manager told me that I had the right attitude and I could
consider working in the care service industry. I didn’t need any special training
because the employer provided on the job training and, with Australia’s ageing
population there’s lots of jobs to choose between if I want to change jobs. The best
thing about my job is the variety. I deal with different clients and do different things
every day.
Example 3
Alyssa’s normal rate of pay is $16.81 per hour. She is paid time-and-a-half on Saturdays
and double time on Sundays.
a How much does Alyssa earn per hour on Saturdays?
b Calculate the amount Alyssa will earn for working 4 hours on a Sunday.
Solution
a When she works on a Saturday Alyssa is paid 1 12 times her normal rate.
Pay per hour at time-and-a-half = 1 12 × $16.81
= $25.22
b When Alyssa works on Sunday she earns 2 × $16.81, or $33.62 per hour.
Pay for 4 hours on Sunday = 4 × $33.62
= $134.48.
Summary
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Time-and-a-half is 1 12 times normal pay
Double time is 2 times normal pay
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ISBN 9780170238946 1. earning money 9
Solution
a Pay for a 35-hour week = 35 × $18
= $630
b When Hasid works more than 7 hours in one day his time is broken into 7 hours
normal + 3 hours at time-and-a-half + the remaining hours at double time.
Hasid worked 12 hours = 7 hours normal + 3 hours at time-and-a-half + 2 hours at
double time.
Hasid’s pay = 7 × $18 + 3 × 1 12 × $18 + 2 × 2 × $18
= $279
$17.20 a b
$14.36 c d
$24.60 e f
$31.25 g h
2 Jane’s normal pay is $16.40 per hour. How much will she earn when she works 5 hours at
time-and-a-half?
3 Mike’s normal pay is $15.30. How much will he earn when he works for 4 hours on a
Sunday at double-time?
4
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How much will Sally earn when she works 3 hours at time-and-a-half and 4 hours at
double time? Her normal pay is $21.80 per hour.
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Example
4 5 Tuan is a plumber’s assistant. He works a 35-hour week at $22.80 per hour. His overtime
is paid at time-and-a-half for the first 5 hours overtime in a week and double time for any
hours after that. This week Tuan worked 42 hours.
Weekdays 21 i iv
Saturday 4 ii v
Sunday 6 iii vi
Wednesday – –
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conditions, or to cover expenses such as uniform and travel.
Some jobs pay bonuses (extra pay) for doing good work, meeting targets or deadlines.
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the navy; jobs I’d never considered like being a waiter or a Chaplin. The navy even has
permanent jobs for musicians in the navy bands!
Example 5
Mark’s basic salary in the navy is $43 434 and he receives an annual $12 128 service
allowance as well as an annual $419 uniform maintenance allowance. When he’s at sea he
receives an additional $11 758 annually.
a Calculate Mark’s weekly pay when he is working on land.
b How much does Mark earn per fortnight when he’s at sea?
Solution
a Mark’s annual salary on land = basic salary + service allowance + uniform allowance
= $43 434 + $12 128 + $419
= $55 981
Mark’s weekly pay on land = $55 981 ÷ 52
= $1076.56
b Mark’s annual pay at sea = basic salary + service allowance + uniform allowance +
sea allowance
= $43 434 + $12 128 + $419 + $11 758
= $67 739
Mark’s pay per fortnight at sea = $67 739 ÷ 26
= $2605.35
Example 6
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Sonia is paid $15.48 per hour for her work as a security guard. Each week she receives an
additional $61.05 for her guard dog and $6.75 for her torch. She receives $14.15 per shift
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as a travel allowance.
Sonia works a 4-hour shift, six nights per week. How much is she paid per week?
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on Sunday.
6 Raina has a job driving disabled children to school. She is paid $16.20 per hour plus
$3.65 per day for assisting children. In addition she receives 65 cents for every work-
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related kilometre she drives in her car. Calculate Raina’s pay for a week when she worked
4 hours each day from Monday to Friday and she used her car for 360 work-related
kilometres.
Number Pay
Unpaid of hours per
Shift Starting time Finishing time breaks worked hour Pay
1 Thursday 10 p.m. Friday 6:30 a.m. 30 minutes i v ix
2 Friday mid-night Saturday 8 a.m. 1 hour ii vi x
3 Saturday 8 p.m. Saturday midnight 0 iii vii xi
4 Sunday 6:30 p.m. Sunday midnight 30 minutes iv viii xii
b
now
Calculate Sam’s total pay.
Investigation
My future career
Earning an income can occupy a lot of your time, so it’s important to find a job that you are
going to enjoy. In this investigation you are going to complete some online questionnaires
to help you determine the type of occupation that suits your skills and interests.
1 Use the link to open the ‘My future’ website: www.myfuture.edu.au
2 The first time you enter the ‘My Guide’ section you will need to log on as a new
user. Remember your password. You’ll need to use your password each time you
log on.
3 In the ‘identifying section’ of the website there are some online questionnaires.
Complete a questionnaire and then explore the careers that the website suggests
might interest you in the ‘career fields’ or ‘occupations’ section of the website. You
may be unfamiliar with some of the careers to which you may be suited. Take the
time to learn about these careers. It could be the best hour you ever spend!
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animals and I help the vets during consultations and surgery.
Sometimes I do lab tests and sterilise equipment, but my favorite
activity is running puppy preschool classes.
Example 7
Briana earns $750 per week as a vet nurse. When she takes her 4 weeks annual holiday
she receives an extra 17 12 % of 4 weeks pay as a holiday loading in addition to her normal
4 weeks pay.
a Calculate Briana’s holiday loading.
b Determine the total value of Briana’s holiday pay before she has to pay tax.
Solution
a Briana’s pay for 1 week = $750
0.175 ×
Briana’s pay for 4 weeks = $750 × 4
$3000 is
= $3000 another way to
calculate 17 21 %
Briana’s holiday loading = 17 12 % of $3000 of $3000.
17 12
= × $3000
100
= $525
Briana’s holiday loading is $525.
b Briana’s holiday pay before tax = $3000 + $525
= $3525
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Example
2 The Edmondson Park Motel pays its employees a 17 % holiday loading on their 4 weeks
1
2 7
annual leave.
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a Vicki, the chef, earns $695 per week. Calculate her holiday loading.
b James earns $565 per week as a barman at the hotel. How much will James be paid
for his 4-week annual holiday?
Thank-you bonus as a
Completed years of service percentage of annual salary
1–5 0.4%
6–8 0.65%
Over 8 0.9%
Katrina is paid $2152 per fortnight and she has worked for the company for 7 years.
a How much is Katrina’s ‘thank-you’ bonus?
b Calculate the total amount Katrina was paid , before tax, for her 4 weeks holiday,
including the bonus.
9 Katherine earns $640 per week. At the end of the year she receives 5 weeks of holidays
with a 17 12 % loading on 4 weeks. How much more does Katherine get paid for taking
5 weeks of holidays than for working 5 weeks?
dummy text for
now
10 To complete this activity you will need to use the link to open the active ‘Holiday pay’
spreadsheet.
Sally earns $11.25 per hour for a 35-hour week. If the holiday leave loading increases
from 17 12 % to 22 12 % of 4 weeks pay, by how much will Sally’s 4 week holiday pay
increase?
b
amounts?
i
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What spreadsheet formula could be used to determine the value of the following
Summary
Workers who sell items are often paid by commission, which is a percentage of the
value of the items they’ve sold.
Piecework is a type of work where a worker is paid per item produced or processed.
A royalty is a payment to an author, singer or artist for each copy
of their work sold. Usually a royalty is a percentage of the total
sales amount.
Profile
Sarina – S ydney ar tist
It’s great to be able to work doing something you love, but it
hasn’t always been easy. In the beginning, as an unknown artist,
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I had to work nights as a waitress because my art didn’t pay very
much. If I sold the same painting now as I did 10 years ago I’d get
a lot more money for it. My current work involves commissions where people ask me
to paint something specific. My agent negotiates a fixed price for commissions. I also
earn royalties when my artwork is used
on commercial items like placemats, ‘Commission’ has several quite different
drink coasters, plates, cups, serviettes, meanings. To an artist a ‘commission’ is
an order for an original piece of artwork.
calendars and T-shirts.
When we earn a commission we receive
Use the link to view some of Sarina’s a percentage of the value of the items that
work: www.sarina.net we sell.
Example 8
Sarina receives a 5% royalty on the wholesale price of serviettes featuring her art.
Packets of serviettes wholesale for $3.20 each and sell for $5.80. Calculate Sarina’s
royalty for the sale of 8000 packets of serviettes.
Solution
The wholesale value of the serviettes = 8000 × $3.20
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Sarina’s royalty = 5% of $25 600
= $25 600
When we’re calculating a
percentage of an amount, for
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= 0.05 × $25 600
example 5% of $200, we can either
= $1280 do 100
5
× 200 or 0.05 × 200.
Jordan is a used car salesman. He is paid a $170 monthly retainer plus 5% commission
on his monthly sales over $50 000. Calculate his pay for a month when his sales totalled
$80 000.
Solution
Sales over $50 000 = $80 000 – $50 000
= $30 000
Commission = 5% of $30 000
5
= × $30 000
100
= $1500
Total earnings = retainer + commission Retainer: An amount of money a
salesperson is paid that does not
= $170 + $1500 depend on his sales.
= $1670
Example 10
Solution
Judy’s sales are $1000 + $2000 + $2200 = $5200
Commission on the first $1000 = 0.05 × $1000
= $50
Commission on the next $2000 = 0.04 × $2000
= $80
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Commission on the remaining $2200 = 0.035 × $2200
= $77
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Judy’s total commission = $50 + $80 + $77
= $207
Jan enjoys craftwork and she decided to make some embroidered hand towels to sell at a
charity street stall. To embroider the towels she bought:
• 10 plain hand towels at $8.25 each
• 8 metres of embroidery ribbon at 95 cents per metre
• 2 skeins of embroidery thread at $1.95
It took her 2 12 hours to make the towels and she values her time at $15 per hour.
How much should Jan charge for her towels?
Solution
Cost of the materials = 10 × towels + 8 × ribbon + 2 × thread
Remember to change
10 × $8.25 + 8 × $0.95 + 2 × $1.95 the 95 cents into
= $94 $0.95.
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Example
4 Andrew is a door-to-door salesperson who is paid a retainer of $120 per week to cover 9
his expenses, plus a commission of 15% of all sales he makes. Andrew’s sales for the first
week in April totalled $2896. Calculate his pay for the first week in April.
Calculate Emily’s commission in a month when her total sales were valued at:
a $ 360 b $998 c $5100.
8 Trevor told Monique she required 6 m of tiles for the kitchen walls, 48 m2 of slate for
2
the lounge room floor and 7 m2 of slate for the stairs. How much will Trevor charge
Monique to lay the tiles and slate?
Example
11 9 Kelly makes crystal pendants which she sells at the markets. To make 20 pendants it
costs her:
•
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$48 for the crystals
$55 for the chains
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• $10 for the clasps
Kelly values her time at $18 per hour and it takes her 3 hours to make 20 pendants.
What price should Kelly charge for each pendant?
The copyright statement showed that 7258 pages of text, 60 artistic works and 12
overhead transparencies were copied. Melissa receives 30% of the copyright payment.
The remainder goes to the books’ publisher. Calculate the amount Melissa and her
publisher will receive from the copyright payment.
16 The table shows the rates of royalty Sarina receives when her art is used on plates. The
wholesale price of the plates is $3.40.
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Number of plates sold Royalty rate
First 2000 4% of the wholesale price
From 2001 to 10 000 $272 plus 3% of the wholesale price for the number of plates sold in
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excess of 2000
10 001 or more $1088 plus 2.5% of the whole price for the number of plates sold in
excess of 10 000
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052-222. They
will provide
medication she’s OK but I still need to do the shopping, cook
information our food and do all our housework. It’s really hard when I’ve got
about support assignments and assessments, especially if Mum’s unwell. I can’t get a job because I have
and assistance
no spare time. Centrelink gives me a carer’s pension and a carer’s allowance. Mum
in your local
area. receives sickness benefits and rent assistance.
Example 12
Income and assets tests are applied to pensions. Joan is a single, aged pensioner who
owns her own home. She is allowed to have assets up to $186 750 and retain a full
pension of $695.30 per fortnight. For every $1000 over $186 750 that Joan has in assets
her fortnightly pension reduces by $1.50. At present Joan’s assets are valued at $145 000
and she is about to inherit $70 000. What affect will inheriting $70 000 have on her
pension?
Solution
Joan’s assets after her inheritance = $145 000 + $70 000
= $215 000.
The value of Joan’s assets over $186 750 = $215 000 – $186 750
= $28 250
The number of thousands of dollars over $186 750 = $28 250 ÷ $1000
= 28.25
Amount Joan’s pension will decrease per fortnight = 28.25 × $1.50
= $42.38
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Inheriting $70 000 will decrease Joan’s pension by $42.38 per fortnight.
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22 NCM 11. general (pathway 1) ISBN 9780170238946
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single Age pensioner and she earns $250 per fortnight. Calculate the value of Agnes’
fortnightly Age pension.
1-07 Budgeting
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Have you ever wondered what happens to your money? It’s a good idea to have a plan so
that you don’t waste it. A budget lists what you expect to be your income and expenses and
can help you to manage your money.
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Income covers all the money you might earn.
There are different types of expenses.
Example 13
Jan works part-time while studying. She receives an allowance from her parents of
$100 per week and she earns $120 from her job. She pays $80 per week in rent and spends
$30 per week on food. She averages $10 per week for her mobile phone and $20 per week
on clothes. She divides the remainder equally between entertainment and savings.
a Draw up a budget for Jan for a week.
b Jan’s rent is increased by $25 per week. How would she need to adjust her budget
for this?
Solution
a Income Expenses
Allowance $100.00 Rent $80.00
Earnings $120.00 Food $30.00
Mobile phone $10.00
Clothes $20.00
Total fixed expenses $140.00
Entertainment $40.00
Savings $40.00
Total income $220.00 Total expenses $220.00
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to divide between entertainment and savings. She could still divide this amount
equally between the two or she could decide to spend less on entertainment so that
she can continue to save $40 per week. This would depend on what she is saving for
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and how soon she needs the money. If she divides the amount equally she will have
$27.50 for each.
13 2 Michael works in an office during the week and behind the bar at the local club on
weekends. He earns $620 per week from the office job and $215 from his shifts at the
club. He pays $180 per week in rent and spends an average of $60 per week on food.
His smartphone costs him $20 per week and travel expenses are $60 per week. The
remainder of his income has to be divided between entertainment, clothes and savings.
a Draw up a budget for Michael for one week.
b Michael is considering buying a car. He would no longer have travel expenses but he
would need to allow $100 per week to pay off a loan and $75 for expenses. Draw up a
new budget for Michael.
3 Chris is an apprentice mechanic. His take-home pay is $790 per fortnight. This table
shows his fortnightly expenses.
Item Amount
Board $120
Mobile phone $21
Clothes $65
Car $112
Entertainment $72
Other expenses $88
Savings
Total $590
Income Expenses
Part-time job $290 Clothes $140
Baby sitting $130 School needs $32
Entertainment $50
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Mobile phone $55
Fares $23
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a Calculate Shania’s monthly income and expenses.
b Calculate the amount Shania is able to save each year.
Income Expenses
Wages $750 Rent $225
Casual wages Travel $56
Food $117
Clothes $55
Entertainment $75
Bills $157
Savings
Total $908 Total $908
Investigation
My budget
In this investigation you are going to prepare two budgets – one for a typical school
leaver and one for yourself based on your own choice of job when you leave school.
Part A: Typical school leaver
Income:
• You have finished school.
• After school you enrolled in a TAFE course for a year.
• You are now working and earn $24 960 p.a.
• So far you have no partner and no children. You need to move out of home.
• Your new home will be 4ckm from where you work (fast 50-minute walk).
1
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Use the link to download the Tax tables, Budget Guidelines and the
Lifestyle Costs provided for this activity.
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2 Copy and complete this budget form based on the information, or use the link to
print out the form.
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• Your budget costing needs to cover the costs of the essentials of living (for example,
regular expenses such as food, shelter).
• In addition, under discretionary expenses, weekly amounts should be provided which
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will allow you to afford the extra non-essential activities you wish to pursue, whether
it is entertainment, holidays, fashion, a more expensive car, etc.
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ISBN 9780170238946 1. earning money 29
Word match
Match each word in the first column to its correct meaning in the second column.
Word Meaning
1 Allowance A Yearly
2 Annual leave loading B Pay based on the number of hours worked
3 Bonus C Pay based on the number of items made or processed
4 Double time D 1.5 times the normal rate of pay
5 Income E A payment to authors, artists or others who create items
6 Overtime F Extra amount paid for holidays, usually 17.5% of 4 weeks’ pay
7 Per annum (pa) G Extra pay for doing good work
8 Piecework H A fixed amount paid per year
9 Royalty I Twice the normal rate of pay
10 Salary J Additional payment for work under difficult conditions or for
doing unpleasant tasks
11 Time-and-a-half K Money that is received or gained, usually regularly
12 Wage L Working more hours per day or week than normally
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30 NCM 11. general (pathway 1) ISBN 9780170238946
Chapter problem
Hugo earns $17.04 per hour for a 37-hour week in his job in a wholesale plant
nursery. He is paid time-and-a-half for the first 5 hours of overtime per week and
double time after that. If he is required to work any unscheduled overtime he
receives a $10.68 meal allowance per shift. In addition he receives a $1.60 allowance
per hour when he is required to work in wet areas.
Last week he worked 43 hours, which included one unscheduled overtime shift and
6 hours working in a wet area.
PAYSLIP
Employee: Hugo Mendozia Pay Period: May, 29
Pay Cycle: Weekly
Hugo thinks his pay for the week ending 29 May is wrong. Is Hugo’s gross pay
correct?
Solution
In the week ending 29 May Hugo worked 37 hours normal time and 5 hours
overtime at time-and-a-half.
The calculations for Hugo’s normal pay and allowances are correct but the overtime
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calculation is wrong. Hugo has been overpaid by $25.56.
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ISBN 9780170238946 1. earning money 31