## Business Math Terms

**Gross Pay**, the total sum of all taxable wages to be paid an employee.- A
**Commision**is a percentage of the total sales generated by that person. **Hourly Rate**a fixed amount of money per hour for services rendered.**Piece Work Rate**a fixed amount of money for each item satisfactorily produced or assembled.

**Calculating Commissions **

*Commissions = Sales x Rate*

**Gross Pay Using Hourly Wages**

*Gross Pay = (Regular Rate x Regular Hours) + (Overtime Rate x Overtime Hours)*

**Gross Pay Using Piece Work Rate**

*Gross Pay = (Sum of Pieces) x (Rate)*