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Chapter 1 Test - Chapter 1 Test Math Money Management Name...

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Chapter 1 Test Name:____________________________ Math Money Management Date:______________ Period:________ Choose the best description for the term. Write the letter in the appropriate blank. (2 points each) ______ 1. salary A . Total amount of money you earn for work done during a pay period, before any deductions are taken. ______ 2. overtime pay B . A fixed amount of money earned on a regular basis C. Receiving a specified amount of money for each item of work completed ______ 3. straight time pay D . Payment for working more than your regular hours E. Shows the time worked each day of the week ______ 4. double time pay F. Total amount earned for a pay period at the hourly rate G. 2 times your regular pay ______ 5. weekly time card ______ 6. piecework ______ 7. gross pay Answer the following questions. Show all calculations! Please write the final answer in the answer blank. Round all money to the nearest cent and all percents to the nearest whole percent. (4 points each) __________8. What is Sarah’s gross pay if she worked 46 hours last week at $7.00 per hour? Assume that all hours over 40 hours are overtime hours paid at time and a half.
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