Businessmath-q2-mod5-overtime-pay compress_Senior High School PDF

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Business Math Quarter 2 – Overtime Pay

Business Math – Grade 11 Alternative Delivery Mode Quarter 2 – : Overtime Pay First Edition, 2020 Republic Act 8293, section 176 states that: No copyright shall subsist in any work of the Government of the Philippines. However, prior approval of the government agency or office wherein the work is created shall be necessary for exploitation of such work for profit. Such agency or office may, among other things, impose as a condition the payment of royalties. Borrowed materials (i.e., songs, stories, poems, pictures, photos, brand names, trademarks, etc.) included in this module are owned by their respective copyright holders. Every effort has been exerted to locate and seek permission to use these materials from their respective copyright owners. The publisher and authors do not represent nor claim ownership over them. Published by the Department of Education Secretary: Leonor Magtolis Briones Undersecretary: Diosdado M. San Antonio

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Business Math Quarter 2 – Overtime Pay

Introductory Message For the facilitator: Welcome to the Business Math – Grade 11 Alternative Delivery Mode (ADM) Module on Overtime Pay! This module was collaboratively designed, developed and reviewed by educators both from public and private institutions to assist you, the teacher or facilitator in helping the learners meet the standards set by the K to 12 Curriculum while overcoming their personal, social, and economic constraints in schooling. This learning resource hopes to engage the learners into guided and independent learning activities at their own pace and time. Furthermore, this also aims to help learners acquire the needed 21st century skills while taking into consideration their needs and circumstances. In addition to the material in the main text, you will also see this box in the body of the module:

Notes to the Teacher This contains helpful tips or strategies that will help you in guiding the learners.

As a facilitator you are expected to orient the learners on how to use this module. You also need to keep track of the learners' progress while allowing them to manage their own learning. Furthermore, you are expected to encourage and assist the learners as they do the tasks included in the module.

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For the learner: Welcome to the Business Math – Grade 11 Alternative Delivery Mode (ADM) Module on Overtime Pay! Business Math is a mathematical tool intended to deliver an utmost understanding about money and information needed to make good financial decisions It does not only concentrate on the essentials of business finances, such as owning or operating a business, but it also provides an avenue where people in every walk of life learn the significance of managing their personal finances. Getting familiar with the concepts of Business Math leads to making a better decision with your money! This module was designed to provide you with fun and meaningful opportunities for guided and independent learning at your own pace and time. You will be enabled to process the contents of the learning resource while being an active learner. This module has the following parts and corresponding icons: What I Need to Know

This will give you an idea of the skills or competencies you are expected to learn in the module.

What I Know

This part includes an activity that aims to check what you already know about the lesson to take. If you get all the answers correct (100%), you may decide to skip this module.

What’s In

This is a brief drill or review to help you link the current lesson with the previous one.

What’s New

In this portion, the new lesson will be introduced to you in various ways such as a story, a song, a poem, a problem opener, an activity or a situation.

What is It

This section provides a brief discussion of the lesson. This aims to help you discover and understand new concepts and skills.

What’s More

This comprises activities for independent practice to solidify your understanding and skills of the topic. You may check the answers to the exercises using the Answer Key at the end of the module.

What I Have Learned

This includes questions or blank sentence/paragraph to be filled into process what you learned from the lesson.

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What I Can Do

This section provides an activity which will help you transfer your new knowledge or skill into real life situations or concerns.

Assessment

This is a task which aims to evaluate your level of mastery in achieving the learning competency.

Additional Activities

In this portion, another activity will be given to you to enrich your knowledge or skill of the lesson learned. This also tends retention of learned concepts.

Answer Key

This contains answers to all activities in the module.

At the end of this module you will also find:

References

This is a list of all sources used in developing this module.

The following are some reminders in using this module: 1. Use the module with care. Do not put unnecessary mark/s on any part of the module. Use a separate sheet of paper in answering the exercises. 2. Don’t forget to answer What I Know before moving on to the other activities included in the module. 3. Read the instruction carefully before doing each task. 4. Observe honesty and integrity in doing the tasks and checking your answers. 5. Finish the task at hand before proceeding to the next. 6. Return this module to your teacher/facilitator once you are through with it. If you encounter any difficulty in answering the tasks in this module, do not hesitate to consult your teacher or facilitator. Always bear in mind that you are not alone. We hope that through this material, you will experience meaningful learning and gain deep understanding of the relevant competencies. You can do it!

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What I Need to Know

This module is made to help you have a better understanding about overtime pay and its importance in the business. It will also help you in familiarizing yourself with the formula and be able to use this as an analytical tool in creating profit in the business or to be able to compute your appropriate salary when you are already working as an employee or when you have your own business. Our goal in this module is for you to be able to apply appropriate tool in computing overtime pay. Together, we will study the meaning of overtime pay, how to compute it and the rules to follow in proper computation of Salaries and Wages. At the end of this module, you are expected to identify the variables needed in the computation of overtime as well as the ability to compute for the overtime pay (ABM_BM11BS-IIe-8 and ABM_BM11BS-IIe-9).

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What I Know

DIRECTIONS: On a separate sheet of paper, write only the letter corresponding to your final answer. Please do not write anything on the module. 1. Mrs. Alonzo earns Php25,000 per month. If she works 8 hours a day for a 20-day work month, how much does she get per day? a. 850 b. 1,000 c. 1,050 d. 1,250 2. A working student accepted a tutorial job where she will be paid Php50 per hour. How much will she earn for a 20-hour week work? a. 500 b. 1,000 c. 1,050 d. 1,200 3. Mc Bee pays their staff with an average wage of Php75 per hour, how much do their staff get if they work for 7 hours and 6 days a week for 4 weeks? a. 12,600 b. 13,000 c. 13,500 d. 13,575 4.

Police Patrol Gonzales has a basic salary of Php30,000 per month, a living allowance of Php2,000 per month and a hazard pay of Php15,000 per year. What is his gross annual income? a. 384,000 b. 399,000 c. 528,000 d. 560,000

5. During pandemic, the President of the Philippines approved a law that gives a hazard pay of Php500.00 daily to all the health care worker in the Philippines. If Nurse Sheila has a salary of Php30,000 per month and work in the hospital for 21 days how much will be her total Gross Income? a. 40,500 b. 45,000 c. 45,500 d. 46,000 5

6. Laizza is paid Php55.40 pesos for each hour she works. What will be her gross pay for a week if she works for 45 hours? a. 3,000 b. 2,943 c. 2,493 d. 2,400 7. Arlaine is paid a salary of Php15,600 a month. What are her total annual earnings? a. 187,200 b. 202,800 c. 204,200 d. 218,400 8. Ashley is paid Php8 for each design she embroiders on the cloth facemask that was approved by the inspector. What will be her pay if she embroidered 50 pieces of facemasks, in which 3 were rejected? a. 400 b. 386 c. 376 d. 350 9. Angie received her pay slip for the month of July 2020 and the following are written: Salary: Php25,000; Production Bonus: Php1,200; Sick leave: Php1,500; Income tax: Php1,800; Which of the following is NOT a type of compensation? a. Salary b. Sick Leave c. Income tax d. Production Bonus 10. Tina is a part-time waitress at a local restaurant. She is paid Php45.50 per hour. What is Tina’s wages in a week during which she works 22 hours? a. 1,001 b. 1,010 c. 1,100 d. 1,110 11. The payment that is given to the employee in exchange for the time he/she worked for the company/employer. a. Wages b. Salaries c. Variable Pay d. Base Pay 12. All of the given are usually deducted to the gross pay of the employee EXCEPT one. Which is it? a. Income tax b. Philhealth c. Pag-Ibig d. Sick leave 6

13. Rose has different jobs in the year 2020. From January 2 to June 31 she earned a weekly wage of Php2,500 for 26 weeks; her next job paid her Php2,800 per week for the remainder of the year. What is her total income in that year? There are 52 weeks in a year. a. 127,800 b. 130,500 c. 137,800 d. 138,000 14. Christina’s hourly pay rate decreases from Php55 to Php49 due to the company’s recession. What is the decrease as a percentage of her original rate? a. 10.91% b. 9.91% c. 8.81% d. 6.00% 15. Aidan earns Php600 a week. How many weeks does it take before he earns Php21,600? a. 36 b. 38 c. 40 d. 42

Good job on our pre-assessment! This is just a preview of our lesson. More interesting ideas will be introduced in this module. Keep going!

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What’s In

Arrange the letters to reveal the terms that we will use in this lesson. On the right side are the icons that will serve as your clue. Write the correct answer in a separate sheet of paper. 1.

VROTMIEE

2.

AIDOHLY

3.

BALOR

4.

TRES

5.

AGWE

AYP

OCDE ADY ARTE

What’s New DIRECTIONS: On a separate sheet of paper, write your answers to the questions below. Please do not write anything on the module.

Regine works in a company at AFAB Mariveles, Bataan. She earns Php440.00 per day and she was always required to work overtime for two hours every day. Her employer wants to transfer her to their company branch in Manila where she will have a minimum wage of Php537.00 per day. However, she was told that they don’t require much overtime in that branch because they have enough manpower. What should be her answer if she will base her decision on her earnings? Which branch will she earn more?

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What is It DIRECTIONS: Write on the blank the percentage rate that is needed to compute for the overtime needed.

Date of Overtime Overtime on Ordinary days Overtime on Sunday/Restday Overtime on Ramadan/ Restday Overtime on December 25 and Sunday/Restday

Rate for the first 8 hours 1) _____ 130% 3) _____

Rate after 8 hours 125% 2) _____ 4) _____

200% x 130%

5) _____

Lesson

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Overtime Pay

The Philippine Labor Code Art. 83 states that the normal hours of work where an employee is required to do his/her work or to be in a prescribed workplace is eight (8) hours a day. However, the Labor Code does not apply to government employees, managerial employees, field personnel, employer’s family members, domestic helpers, and personal service providers. Also, a child below 15 years of age cannot work for more than 4 hours and those that are 15 to 18 years cannot work for more than 8 hours a day and 5 days a week. The household helpers are required to work for 10 hours a day excluded an hour of break time for their meals every day. There are times that the employee will be required to work for more than their prescribed hours; (1) first if the country is at war or under a national or local emergency like the Covid-19 Pandemic; (2) second if overtime work can help save lives; (3) third if there is urgent work to be performed on machines, installation or equipment; (4) fourth to avoid damage or loss to the perishable good or if the work requires a certain weather condition to finish it; and (5) lastly the overtime work will avoid company losses. In these cases, the company is required to pay the overtime pay as stipulated in the law.

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OVERTIME PAY is the additional compensation given to the employee who rendered an overtime work. The following are different kinds of overtime work and ways to compute its payment:

I. OVERTIME PAY ON REGULAR WORKDAY The employer must provide six continuous working day and one rest day. The overtime pay during this working days shall be computed as: Overtime Pay = OT hours x 125% of normal hourly wage rate. Example: An employee was required to work additional 3 hours overtime to meet the deadline for their output. The daily wage rate is Php440.00. Compute for the overtime pay. Computation: OT Pay

= 3(H) x 440 x 125% 8 = 55 x 1.25 = Php68.75

Note: To get the hourly rate divide the daily wage to 8 hours.

II. OVERTIME PAY ON SCHEDULED REST DAY Usually Sunday is the scheduled rest day of various companies, but it may vary depending on the kind of business. Others call it Sunday rate. a. First 8 Hours = Daily wage rate x 130% Example: Renato a technician had to work on Sunday/Rest Day to repair the conveyor equipment. How much will he be paid if his rate is Php600 daily. Computation: Sunday/Rest Day Pay = 600 x 1.30 = Php780 b. Sunday Overtime Pay = OT hours x 169% x hourly rate Example: Renato wasn’t able to finish his repair job for 8 hours so he worked for another 3 hours. What will be his total compensation? Computation: Sunday/Rest Day OT Pay = 3(H) x 1.69 x 600.00 8 = Php380.25 Thus, Renato earned Php1,160.25 that Sunday. 10

III. OVERTIME PAY ON HOLIDAY The list of regular holidays on 2020 are January 1, April 9, April 10, May 1, June 12, August 31, November 30, December 25, December 30, Eid al Fitr (Feast of Breaking the Fast)) and Eid al Adha (Festival of Sacrifice). On these dates the first 8 hours will be paid double or 200% and 260% in excess of 8 hours.

a. Holiday First 8 hours = Daily Wage Rate X 200% Example: Arnold a guard was required to work on December 25. His daily rate is Php500.00. What will be his earnings for the first eight hours? Computation: Special Day First 8 hours = 500 x 2.0 = Php1,000.00

b. Regular Holiday Overtime Pay = Hours of Overtime x 260% x hourly rate Example: Arnold’s reliever didn’t come on time. He had to work for another 4 hours that day. Compute for his total earnings that day. Computation: Special Day Overtime = 4 (H) x 2.6 x 500 8 = Php650.00 Thus, Arnold earned Php1,650.00 that day.

IV. OVERTIME PAY FOR HOLIDAY THAT FALLS ON RESTDAY Other employees like health care workers, police, soldiers, guards, and other vital employees of a company are always required to work even during holidays and sometimes it falls on their rest day as well.

a. First 8 hours = Daily rate x 260 % Example: Roland, a guard was required to work on November 1, a holiday and Sunday, which is also his rest day. His daily wage is Php570.00. Compute for his compensation that day. Computation: Sunday Holiday Pay = 570 x 2.6 = Php1,482.00

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b. Regular Holiday/Rest Day OT Pay = Hours of OT x 260% x 130% x hourly rate Example: There was a thief incident that day that he has to stay for another 3 hours as overtime work. What will be his overtime pay after 8 hours on Holiday and Sunday? Computation: Sunday Holiday OT Pay = 3 (H) x 2.6 x 1.3 x 570 8 = Php722.48 Thus, his total earning for that day is Php2,204.75

V. OVERTIME PAY FOR SPECIAL (NON-WORKING HOLIDAY) THAT FALLS ON RESTDAY The overtime rate is 195% of the normal hourly wage rate if the overtime work is done on a special day which falls on a scheduled rest day (100 (assumed normal hourly wage) * 130% * 150%). a. First 8 hours = Daily rate x 150 % Example: Andy worked for 10 hours on February 25, a special non-working holiday and also his rest day. What will be his total income for the day if his daily wage is Php520.00? Computation: Special NWH Rest day Pay = 520 x 1.5 = Php780.00 (for the first 8 hours) b. SPNW Holiday/Rest Day OT Pay = Hours of OT X 130% x 150% x hourly rate Special NWH Rest day OT Pay = 2(H) x 1.3 x 1.5 x 65 = Php 253.50 (for the 2 hours OT) Thus, his total earning for that day is Php1,033.50

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VI. NIGHT SHIFT DIFFERENTIAL This refers to the 10% added amount to the hourly rate if the employee works from 10:00 PM to 6:00 AM. Example: Mr. Deinla worked from 8:30 AM to 11:30 PM, if his daily rate is Php500.00 what will be his total earning for the day? Computation: Total Income = 500 + [6(H) x 62.50 x 1.25] + [1.5(H) x .10 x 62.5] = 500 + 468.75 + 9.38 = Php978.12 Night Differential Thus, his total earnings for the day is Php978.12

What’s More

DIRECTIONS: On a separate sheet of paper, complete the table below by computing for the total compensation of each worker.

NAME

Risa Allan Richard

Innah

DATE OF OVERTIME

Monday (Regular Working Day) Sunday (Overtime) November 1 (Holiday) Dec. 25 (Rest Day, Holiday)

DAILY RATE

OT HOURS

OT RATE

FIRST 8 HOURS PAY

OT PAY

TOTAL COMPENSA TION

Php450

3

125%

450.00

210.93

(1)

Php420

1

546.00

88.73

(2)

(3)

2

800.00

260.00

1,060.00

Php480

3

1,248.00

608.40

1,856.40

130% x 130% 200% x 130% (4)

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What I Have Learned

1. Normal hours of work should not be more than ____ hours a day. 2. The overtime rate is ______ percent of the normal hourly wage rate if overtime work is performed on an ordinary working day. 3. The overtime rate in excess of ...