Year 9 to 12 Financial Mathematics Exit Tickets-Calculating Wages & Overtime Pay

Financial Mathematics Exit Tickets

For teachers to assess students’ understanding of how to calculate earnings from wages in various time periods, given an hourly rate of pay, including increased rates for overtime and special rates for Sundays and public holidays.

Skill Focus:

• Calculating elapsed time

• Rounding money to the nearest cent.

• Converting income from one period to another.

The estimated time for each exit ticket is 10 minutes to 20 minutes.

Learning Outcomes:

• Calculate earnings from wages for various time periods, given an hourly rate of pay, including increased rates for overtime and special rates for Sundays and public holidays.
• Find the equivalent number of hours worked at normal pay.
• Read an award or pay scale table and compare pay rates and conditions for different positions

Comply with Australian Curriculum:

• Calculate weekly or monthly wage from an annual salary, wages from an hourly rate including situations involving overtime and other allowances and earnings based on commission or piecework (ACMGM002)
• Convert units of rates occurring in practical situations to solve problems (ACMEM015)