Business Math
Average
A single number used to represent a group of numbers
Tip
An amount of money given to someone for services they provide
Straight Commission
Employees who are paid on commission only
Graduated Commission
Employees whose rate of commission increases as their sales increase
Quota
Fixed amount that certain salespersons much read in order to earn commission
Time-and-a-half pay
Overtime pay that is figured at one and a half times the regular rate
Hourly Rate
The amount of money an employee is paid each hour
Gross Pay
Total amount of money that an employee is paid.
piece-rate
When employees are paid for each item or piece they produce
Commission
A fixed amount for each item sold or a percent of the dollar value of sales
Salary
A fixed amount of money paid to an employee for each time period worked, such as a day, week, month, or year.
Per Diem
employees who are paid a fixed daily amount