Final answer:
In hourly pay equations, total pay is the product of the number of hours worked and the wage rate, including both wages and benefits.
Step-by-step explanation:
When modeling hourly pay, the total pay is represented in the equation as the product of the number of hours worked and the wage rate. This is the fundamental principle in determining an individual's earnings over a given period. Hourly compensation includes not only wages and salaries but also other benefits such as health insurance and vacation pay. Factors that can influence compensation include experience, education, skill, and labor union membership. The cost of living and taxes also play roles in affecting take-home pay.