FAA6.N Examples : 25 Earned Income (EAIN/EAIC) Examples : X Budgeting Contract Example 4
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:
 
INC TYPE: WA
FREQ: BW
NUMBER OF PERIODS:
PERIOD
DATE PAID
HOURS
HR. RATE
GROSS AMOUNT
01
05/21
 
 
500.00
02
06/04
 
 
700.00
 
●Document the method used to determine a monthly amount in the DOC field and press ENTER.
 
AZTECS multiplies the average bi-weekly gross income, $600, by 2.15. The monthly amount is $1,290.