BUSINESS MATHEMATICS
BM_LP #​9
LECTURE PROBLEMS: SALARIES AND WAGES
Compensation by Salary
1. A manager of a plastic manufacturing company earns
a monthly salary of php 24,500.
a. What is his annual salary?
b. What is his weekly salary?
2. Ronnie receives a salary of php 3,465 a week.
a. What is Ronnie’s gross pay for 4 weeks of work?
b. What is Ronnie’s gross pay for one year of
work?
Compensation by hourly wage
3. An employee worked for 38 hours in one week at a
hourly wage of Php 45. How much would he/she earn?
4. A company pays and hourly rate of php 75.50 for
regular time. Compute the overtime rate,
a. if It pays time and a half
b. if it pays double time
5. Ernie works in a company with an hourly rate of Php
53.50 and time and a half for overtime. With his regular
time of 8 hours a day, what is his gross pay for the week
if his time record shows the following data?
6. Federico Castro is a sales clerk in a private company.
He has a monthly salary of Php 17,800. He is married
with three children. What is his net pay?
a. how much is his SSS contribution?
b. how much is his Philhealth contribution?
c. how much is his HDMF contribution?
d. Compute the withholding tax
e. Compute the net pay
7. Donna Gagarin works as a private school teacher. She
is a single mother with a dependent child. Compute her
net pay on the following schedule if she receives a gross
pay of Php 8,640 semi-monthly.
a) Every 15​th​ of the month
b) Every end of the month
c) What is his monthly net pay?
Comprehensive Problems
8. Bonnie works as an accountant in SGV. Her monthly
salary is Php 25,000.00 and she is paid every end of the
month. Compute for the following:
a. Government mandated contributions: SSS, PHIC,
HDMF
b. Withholding tax
c. Total deductions from gross pay
d. Non taxable benefits
e. Net Pay
9. Lemuel works as a sales representative from Nissan
Davao. His hourly rate is Php 75.00, he is paid with an
overtime rate of time and a half. His time record shows
that he has an overtime of 5 hours for August 1-15 and
6 hours for August 16-30. He also receives a 5%
commission for his sales for the month. He sold 1 unit of
Nissan Terra worth Php 1,500,000 and 2 units of Nissan
Almera worth Php 2,225,000.
Compute for the following:
1. Regular Pay
2. Overtime pay
3. Overtime premium
4. Commission
5. Total Compensation for the month
6. Non taxable benefits
7. Government mandated contributions (enumerate)
8. Withholding Tax
9. Total deductions from gross pay
10. Net pay