Worksheets in Business Mathematics (Senior High School)

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Salary, Wage, Income and Benefits

I. Vocabulary and Concepts. Identify the concept/ idea being described

in each item.

1.
1. It is a compensation quoted in an hourly or daily rate for an employee.
2. It is the total amount that the individual earned by working through a period
of time.
3. It is the compensation usually quoted annually or monthly for an employee, a
fixed amount of money for each time period worked.
4. It is a money that an individual receives in exchange for providing a
good/service or through investing capital.
5. The difference between the gross income and deduction of the compensation
of an individual.

II. Find the amount earned by each of the workers in a given period of
time.

1. The average live in caregiver annual gross salary in the Philippines is

Php151,808.00. How much is their equivalent hourly rate considering a 22-
day per month basis working 8-hours a day?

2. A security guard in Metro Manila earns a monthly compensation of

Php20,876.00, how much is his earning in half a year?

Department of Education - Schools Division of Tarlac Province

 Worksheets in Business Mathematics (Senior High School)

3. An entry level fire officer has a monthly salary of Php29,668.00. How much is
his annual salary?

4. A car sales agent has a monthly compensation of Php15,000.00 and a

commission of 3% for every vehicle sold. How much is the total earning of a
car sales agent who sold a Mitsubishi Mirage at Php700,000 for that month?

5. A Career Service Executive Officer with the highest position has at salary
grade 30 which is Php182,191.00. How much is the annual salary of a CESO I
position?

III. Compute the gross and net income of each employee.

1. Aside from the monthly compensation of a private school teacher which is

Php12,000.00 per month, he accepts a 6-hour a week online tutorial with a
compensation of Php250.00 per hour. How much is his gross income for the
month?
Compute his net income after paying his monthly benefits that includes SSS
(Php400.00 per month), PhilHealth (Php200.00) and Pag-Ibig Fund
(Php100.00)

Department of Education - Schools Division of Tarlac Province

 Worksheets in Business Mathematics (Senior High School)

2. A bank manager has a basic monthly salary of Php55,000.00, a living

allowance of Php3,000.00 per month, and also has an investment of
Php500,000.00 which earns an interest of 3% per year. Compute his annual
gross income. Compute his net income after paying an annual tax of
Php108,680, SSS-Php74,400.00, PhilHealth-Php24,000.00, and Pag-ibig
Fund-Php12,000.00.

3. The monthly salary of a teacher at a salary grade 13 is Php28,276.00 plus

Php2,000.00 living allowance, with the following monthly deductions; BIR
withholding tax-Php930.00, GSIS Personal Share-Php2,573.00, PhiliHealth-
Php428.00, and Pg-ibig-Php100.00. Compute his annual gross and net income.

4. Compute the annual gross and net income of a police officer who is at salary
grade 20, and gets a basic salary of Php54,251.00 per month, with additional
monthly benefits;Living allowance - Php2,000.00, clothing allowance
-Php200.00, regular subsistence allowance - Php4,500.00 per month, and a
hazard pay of Php540.00.
Supposed this police officer has annual deductions for the following;
Php45,000 for income tax, Php6,000 for PhilHealth, Php1,200 for Pag-ibig
and Php35,000 for GSIS contributions

Department of Education - Schools Division of Tarlac Province

 Worksheets in Business Mathematics (Senior High School)

ANSWERS KEY

Salary, Wage, Income and Benefits

I. Vocabulary and Concepts

1. Wage
2. Gross Income
3. Salary
4. Income
5. Net Income

II. Amount earned by each of the workers in a given period of time.

1. Php71.88
2. Php125,256.00
3. Php356,016.00
4. Php36,000.00
5. Php2,186,292.00

III. Gross and Net Income

1. Gross Income: Php18,000.00

Net Income: Php17,300.00

2. Gross Income: Php711,000.00

Net Income: Php491,192.00

3. Gross Income: Php363,312.00

Net Income: Php314,976.00

4. Gross Income: Php737,8932.00

Net Income: Php650,692.00

Department of Education - Schools Division of Tarlac Province