FAA6.N Examples : 25 Earned Income (EAIN/EAIC) Examples : X Budgeting Contract Example 4
X Budgeting Contract Example 4
 
Susan has a contract with ABC Store to provide woven baskets. The contract specifies that Susan is paid on a piecework basis. Susan is paid $100 for every basket she provides. She is paid every two weeks. She received $500.00 on 5/21 and $700.00 on 6/4. Susan states that she spends 3 hours making each basket.
 
Project the income using the appropriate 30-day period.
 
Application date:
06/14
Interview date:
06/14
Thirty day period
05/15 - 06/13
 
On EAIC, key the following:
 
BW in the FREQ field.
Hours worked per pay period in the HOURS field.
The bi-weekly gross income per pay period in the GROSS AMOUNT field.
Document the method used to determine a monthly amount in the DOC field and press ENTER.
 
AZTECS multiplies the average bi-weekly gross income by 2.15. The monthly amount is $1,290.