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In sums of money containing mills, there are three figures following the decimal point. The first and second figures after the decimal point indicate dimes and cents, as before. The third figure indicates mills.

$.014 is 1 cent and 4 mills

It is also 14 mills (since 1 cent = 10 mills).

In multiplying or dividing numbers containing mills, we must place the decimal point in the answer in the same position, that is, three places from the right of the number.

Example:

If your house and lot were assessed at $2000, and the tax rate was 15 mills on the dollar, what would be the amount of your taxes? 15 mills $.015.

$.015

2000

$ 30.000, Answer.

Explanation: 15 mills is 1 cent and 5 mills, or $.015. This is the amount you must pay on each dollar of assessed value. For an assessment of $2000, you would pay 2000 times $.015, which is $30.

35. Wage Calculations.-The chief use that shop men have, within the shop, for calculations concerning money is in connection with their time and wages. With some wage systems the calculations of one's earnings is comparatively simple; with others it seems rather complicated until the systems are thoroughly understood. The simplest systems are, of course, the well-known day-rate and piece-rate systems. By the old dayrate system, the men are paid according to the time put in, without any reference to the work accomplished. The rate may be so much per hour, per day, or per week, but the method of calculating is the same, and the time keeper will use exactly the same process in each case. The pay roll calculations consist merely in multiplying the number of units of time which each man has to his credit by his rate per unit of time; hours by rate per hour, or days by rate per day.

Examples: 1. A machinist puts in 106 hours at 32 cents per hour. How much money is due him from the company?

106

.32

53

212

318

$34.45, Answer.

Explanation: The amount due is the product of 106×32. Since the amount will run into dollars, we write the 324 cents as dollars, $.32. The product is $34.45, which is the amount due.

2. The tool-room foreman gets $6.00 a day and has worked 12 days. What is the amount due him?

12
6.00
$72.00, Answer.

Explanation: The same process is carried out here except that we have the rate per day times the number of days.

The piece-work system, by setting prices for certain pieces of work and paying according to the work done, rewards the man in exact proportion to the work that he does. In this system, an account is kept of the amount of a man's work and his pay is calculated by multiplying the numbers of pieces by the piecerates.

Example:

The price for assembling a certain sized commutator is 55 cents each. If a man assembles an order of 14 of them, how much does he receive? What will he average per day if he does the job in three days? 55¢=$ .55

$ .55×14= $7.70

$7.70 32.56

Amount he receives for the job.
Amount he averages per day.

There are many other wage systems, too numerous to be all explained here. They all are planned to take into account both the amount of work a man does and the time that he puts in to do it. One of these systems, the Premium System, is so well known and so successful as to warrant brief mention here. In its most common form this system is as follows:

The men are all placed on a time rate, usually a rate per hour. A record is kept of every man's time and also of the work done by him.

Every job has a standard time (sometimes called "the limit") allowed for its completion.

On each job, the man's actual time is recorded and also the limit for the job.

The man is paid straight wages for the time put in on the job and, in addition, is paid a premium of usually one-half of the time that he saves below the limit.

If it takes a man a longer time than the limit, he is paid full wages for the time he puts in.

This system is planned to satisfy both parties by giving the efficient man an increased earning, and by giving the firm a share of the time saved, thus giving them a reduced cost whenever they pay higher wages.

Let us take an example to see how one's pay would be figured on this plan.

Example:

In one day, a man whose rate is 27 cents an hour, does the following premium jobs: the first has a limit of 8 hours and is done in 5 hours; the second has a limit of 5 hours and is done in 3 hours; the third has a limit of 3 hours and is finished in 2 hours. What is his pay for the day?

5+3+2=10 hours, actually put in.

8-5 3 hours saved on the first job.
5-32 hours saved on the second job.
3-2= 1 hour saved on the third job.
3+2+1= 6 hours saved on the days work.

He will get paid for the 10 hours and, in addition, for half of the 6 hours that he saved. Altogether he will be paid for 10+ of 6 = 13 hours.

1
13× 8.272-$3.57, Answer.

1 2

He gets $3.58 for his 10 hours work and, therefore, makes a premium of 83 cents. Meanwhile, the company gets the work done for $3.58, instead of paying $4.40, which it would have cost if the workman had taken the full limit for the work.

PROBLEMS

61. Write in figures the following sums of money:

One dollar and twelve cents

Two dollars and twenty-five cents
Eight cents

Fifteen dollars and thirty-seven and one-half cents
Twenty-five mills

62. Read the following and write them out in words:

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63. A young man makes the following purchases: Suit of clothes $25, shoes $3.75, hat $2.25, necktie 50 cents. What is the total cost of his purchases?

64. A certain job calls for four 2 in. by 3 in. machine bolts, two § in. by 13 in. set screws, and two in. by 2 in. cap screws. What would be the total cost of the bolts and screws, if the machine bolts are worth 2 cents each, the set screws 14 cents each, and the cap screws 12 cents each?

65. If you bought a house for $3000 and it was assessed at two-thirds of what it cost you, what taxes would you have to pay if the tax rate was 14 mills on the dollar?

66. How much would a man who is paid $4.25 a day earn in a month of 26 working days?

67. If the piece price for a certain job is 4 cents, how many pieces must a man do in one day to make $5.00?

68. An apprentice and a machinist are working together on a piecework job and they earn $30. They are prorated on the job, which means that the money is divided according to their day-work rates. If the apprentice's rate is 10 cents an hour and the machinist's is 30 cents, what fraction of the money does each get, and how much money would each get?

69. A man rated at 25 cents an hour is working under the premium system. In one day of 9 hours he performs 3 operations the limits of which are 4 hours each. If he gets paid a premium of half the time saved, how much will he make for the day?

70. The following figure represents a page from a time book of a shop working entirely on day work. Calculate the total time of each man, the amount of money due him, and the total pay roll for the shop.

Drop Forge

SUN.

SHOP - TWO WEEKS ENDING. Jam 26th. 1911..

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NAME

Randall, J. F.
Nelson &. C.
Baker, J.C.
Carter L. B
Mullen JF
Holmes, Mus

Murphy, P. J.
Helly, T. C.
Bodenstab J.

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Schaub, F.T. 6 10 10 10 10 10 10 5 10 10 10 10 10 9

Stroznaki P Rynkiewicz JZ. Skawake G. J.

|10|10|10|10|109

.20

1.15

10 10 10 10 10 9
10 10 10 10 10 9
|10|10|10|10105

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FIG. 5.

TOTAL

CHAPTER V

DECIMAL FRACTIONS

36. What are Decimals?-In the old days, when no machinist pretended to work much closer than in. and the micrometer was unknown, the mechanic had little use for decimals except in figuring his pay. Now, however, we find that micrometer measurements are used so generally that a knowledge of decimal fractions is essential.

A Decimal Fraction is merely a fraction having a denominator of 10, 100, 1000, or some similar multiple of 10. The denominator is never written, however, but a system similar to that used in writing U. S. money is used. A decimal fraction is written by first putting down a period or "decimal point" and then writing the numerator of the fraction after the decimal point in such a manner that the denominator can be understood. Everything that comes after the decimal point (to the right of it) is a fraction, or part of a unit.

In writing sums of money, the first figure after the decimal point indicates dimes or tenths of a dollar; the second figure indicates cents, or hundredths of a dollar; the third figure, if any, indicates mills or thousandths of a dollar. This system has proved so handy that it has been extended to representing fractions of any sort of a unit (not necessarily dollars).

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Let us take a decimal, say .253, and find out its meaning. We said that the first figure was tenths; the second, hundredths; the third, thousandths, and so on. Then .253 would be + 180 +1000. This is not a very handy system unless there is

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