Piggy Brings Home the Bacon
Lesson 1

GRADE LEVEL: 7

SUBJECTS:   Math,  Social Studies, and Technology

LEARNER OUTCOMES: The students will:
1- calculate gross income by creating a formula given of hours worked and hourly wage
2-calculate net income by creating a formula using gross income and given tax rate
3-calcualte 15% savings based on net income
4-develop and understanding of how to use checking and saving account books

DURATION OF LESSONS:    2-40 minute lessons

MATERIALS:
Day 1- Bring Home the Bacon worksheet
Day 2- copy of Creating a Checkbook instruction sheet, construction paper, scissors, copies of ledgers, checks, and deposit slips with instructions, stapler or glue,

TECHNOLOGY TOOLS/COURSEWARE: calculators

TEACHER NOTES: size of checkbook will depend on whether this will be used as a daily activity or a continuing weekly class bank

PROCEDURES:
Day 1
1. Teachers will distribute Bring Home the Bacon worksheet.
2.  Given hours worked and hourly wage students will calculate gross income.
3.  Based on gross income students calculate withholding taxes at 20%.
4.  Students calculate net income.
5.  Based on net income students calculate 15% to be budgeted to savings.
6.  Students budget remainder for checking.
Day 2
1. Teachers will need Creating a Checkbook instruction sheet
2. Students create a checking account book which will include book cover, checks, deposit slips, and check ledger.
3.  Students create a savings account book which will include book cover, saving ledger.
4.  Students use deposit slips to deposit previously calculated amounts into checking and savings account books.

MODIFICATIONS: peer tutoring, extended work time, oral reading of instructions and questions

ENRICHMENT ACTIVITIES: Set up a class bank utilizing a weekly payday.

EVALUATION/ASSESSMENT: Check students calculations for gross and net income, withheld taxes, and amounts budgeted for savings and checking.

WEST VIRGINIA GOALS AND OBJECTIVES:
Math
7.18-create algebraic equations and expressions from written statements
7.20-use and apply formulas in problem solving situations
7.46-use appropriate software and technology to practice and master seventh grade instructional objectives
7.49-use a calculator to solve problems with integers
Social Studies
7.13-define economic terms

NATIONAL STANDARDS:
use problem solving approaches to investigate and understand mathematical concepts
formulate problems from situations within and outside mathematics
develop and apply a variety of strategies to solve problems with emphasis on multi-step problems
acguire confidence in using mathematics meaningfully