Business Math Series – Calculating Overtime By Hand

calculate by handCalculating overtime by hand can be risky. The Federal and State governments have set a lot of rules to ensure that employees get paid fairly for the time they work over 40 hours, and if a company doesn’t know and follow all of those rules, overtime lawsuits often result.
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Business Math Series: How to Teach Employees to Count Change Back to a Customer

Counting cash moneyWhen a clerk grabs the change due from the cash register and plops it in your hand, you would have to do some pretty quick math to be sure you got the right change.

But when a clerk counts up from the total and stops at the amount tendered, it is a relief for you and a guarantee for her that the amount is correct. While it seems daunting to some to count this way, all clerks should count change like this. It’s good for business and good for the customer.

Why Employees Need to Know How to Count Change Back

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Business Math Series: Markup

PercentMarkup is the percent of increase in selling price from the original cost. Companies mark up products they sell in order to make money for their business. How much they mark up the products depends on many factors, including demand, whether the product is a luxury item, and so forth. Some items are marked up considerably. It’s hard to believe we pay what we do for common items.

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Business Math Series: Calculating ROI (Return On Investment) for Business Services

Return On InvestmentReturn on investment is a performance measure used to evaluate the value of an investment. ROI is a pretty straight forward concept and it doesn’t take complicated math to calculate it. I am going to show you the basic ROI formula and then I am going to talk about where a business can use it beyond just buying shares.

Return on investment is calculated by dividing the net benefit of the investment by the cost of the investment.

ROI = (gain from investment) – (cost of investment) / (cost of investment)

Make sure to subtract the cost of the investment from the gain since you are spending money in order to make money. To find the ROI percentage, divide by the cost of investment.

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Business Math Series: Averages

The Flaw of Averages

When most people think average, they are thinking of a specific type of average called the arithmetic mean. But there are actually three different types of averages: the mean, median, and mode.

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Business Math Series: Percents

percentThere are a few problems relating to percents that anybody might come across in everyday life and want to solve. I am going to show you how to solve a few of these problems, no matter how they are presented, whether it be to find the percent of a number or to find the answer to a percentage word problem. You will also learn how to easily find a percent increase.

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Business Math Series: Paying Employees a Living Wage

With all the talk about Obama raising the Federal minimum wage to $10.10 per hour, business owners are thinking about living wages and how to ensure that they are paying their employees enough money to satisfy their basic needs, whether or not the democrat’s bill goes through.

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