BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Straight-time pay is the total amount of money you earn in a given pay period. It is calculated based upon your hourly rate of pay. To determine your straight-time pay, multiply the number of hours you worked by your hourly rate.

Detailed explanation-2: -Divide your salary by the number of hours worked per year. For example, if your salary is $40, 000 and you work 2080 hours per year, then your hourly rate = $40, 000/2080.

Detailed explanation-3: -Gross pay is what employees earn before taxes, benefits and other payroll deductions are withheld from their wages. The amount remaining after all withholdings are accounted for is net pay or take-home pay.

Detailed explanation-4: -Straight-time pay refers to an employee’s salary that accurately reflects their worked hours. Using overtime, an employer can use the straight-time income to give employees more control over their time. Employees may appreciate straight-time pay because they have more free time.

Detailed explanation-5: -To calculate straight-time pay, multiply the number of hours the employee usually works by their hourly pay rate. If an employee makes $15 an hour and is usually scheduled for 30 hours a week, that employee’s straight-time pay for the week is $450 (before taxes and other deductions, of course).