Math in the Workplace - Numbers & Operations
MICRON
TECHNOLOGY, INC.
Semiconductor Manufacturing
Payroll Clerk
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Job Description: Performs standard accounting clerical duties in the areas of accounts payable, accounts receivable, cost accounting, payroll or credit and collections. |
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Problem:
If my biweekly gross is $900, and I get a $5,000 per year raise, how much will my biweekly take-home paycheck increase?
Taxes, social security, insurance and retirement contributions take approximately $27% of my gross; but with my raise, the deductions will increase to 32% of my gross.
What is the difference between my old hourly wage and my new hourly wage?
 MICRON
TECHNOLOGY, INC.
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Solution:
| 1. |
$900
26 paychecks |
= $23,400 (annual salary w/o overtime) |
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$23,400 + $5,000 = $28,400 (annual salary with raise) |
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$28,400
26 paychecks |
= $1,092.30 (biweekly gross with raise) |
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$1,092.30 - 32% = $742.76 (biweekly take home with raise) |
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$900 - 27% = $657.00 (biweekly take home before raise) |
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$742.76 - $657.00 = $85.76 (increase in biweekly take home) |
| 2. |
$900
80 hours biweekly |
= $11.25 per hour (before raise) |
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$1,092.30
80 hours biweekly |
= $13.65 per hour (after raise) |
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$13.65 - $11.25 = $2.40 per hour raise (difference) |