Question 1

Find the weekly gross earnings. Overtime is paid at the time-and-a-half rate for hours over 40 per week.
-

Accepted Answer

A) $831.25 
B) $778.75 
C) $823.25 
D) $689.75 
A) $831.25 
B) $778.75 
C) $823.25 
D) $689.75

Question 2

Find the Social Security tax for the current pay period. Assume a 6.2% FICA rate up to a maximum of $115,000.
-Gross Earnings This Year: $113,089.05 Current Period Earnings: $4,442.38

Accepted Answer

A) $112.28 
B) $118.48 
C) $156.95 
D) $275.43 
A) $112.28 
B) $118.48 
C) $156.95 
D) $275.43

Question 3

Use the percentage method of withholding to find the federal withholding tax, a 6.2% FICA rate to find the FICA tax, and
1.45% to find the Medicare tax. Then find the net pay for the employee. Assume that the employee has not earned over
$115,000 so far this year.    
-Robert Stang has gross earnings of $603.16 weekly. He is married and has 4 withholding allowances.

Accepted Answer

A) $541.73 
B) $587.88 
C) $572.29 
D) $557.01 
A) $541.73 
B) $587.88 
C) $572.29 
D) $557.01

Question 4

Solve the problem.
-Allied Industries pays at the time-and-a-half rate for all time worked over 8 hours in any one day no matter how many hours are worked in a week. Ken Warner, an employee of Allied Industries,
Makes $12.30 an hour as his regular rate of pay. Last week he worked 12 hours on Monday, 5.5
Hours on Thursday, and 8.75 hours on Friday. What were his gross earnings for the week?

Accepted Answer

A) $360.80 
B) $352.09 
C) $365.64 
D) $317.07 
A) $360.80 
B) $352.09 
C) $365.64 
D) $317.07

Question 5

Solve the problem.
-ACME package delivery pays employees for each package they deliver. They are paid as follows:   If Joe delivers 22 packages, what are his gross earnings?

Accepted Answer

A) $178.50 
B) $154.00 
C) $187.25 
D) $231.00 
A) $178.50 
B) $154.00 
C) $187.25 
D) $231.00

Question 6

Find the Social Security tax and Medicare tax on the annual gross income of a self-employed individual. For a
self-employed person, the FICA rate is 12.4% and the Medicare rate is 2.9%. Round to the nearest cent if needed.
-Larry Barnes, management consultant, earned $74,920.84

Accepted Answer

A) $9,190.18, $2,072.70 
B) $4,645.09, $2,172.70 
C) $4,645.09, $1,086.35 
D) $9,290.18, $2,172.70 
A) $9,190.18, $2,072.70 
B) $4,645.09, $2,172.70 
C) $4,645.09, $1,086.35 
D) $9,290.18, $2,172.70

Question 7

Solve the problem.
-Barbara is paid $10.88 per hour for a 40-hour work week. One week she worked 45.5 hours. She is paid time-and-a-half for overtime. What is Barbara's overtime pay for the week?

Accepted Answer

A) $89.76 
B) $524.96 
C) $495.04 
D) $68.09 
A) $89.76 
B) $524.96 
C) $495.04 
D) $68.09

Question 8

Solve the problem. Use a FICA rate of 6.2%, a Medicare rate of 1.45%, and an SDI rate of 1%. Assume the person's
earnings will not exceed $31,800 for the year. Round to the nearest cent if needed.
-Donald Ruffano is paid a salary of $469 per week plus a commission of 2% on sales. During a recent week, he had sales of $11,040.34. Find his Social Security tax, Medicare tax, and SDI
Deduction for the week.

Accepted Answer

A) $42.77, $10.00, $6.90 
B) $29.08, $6.80, $4.69 
C) $13.11, $2.21, $2.11 
D) $13.69, $3.20, $2.21 
A) $42.77, $10.00, $6.90 
B) $29.08, $6.80, $4.69 
C) $13.11, $2.21, $2.11 
D) $13.69, $3.20, $2.21

Question 9

Use the state income tax rate given to find the state withholding tax for the following employee. Round to the nearest
cent.
-

Accepted Answer

A) $728.73 
B) $7,287.26 
C) $1.53 
D) $72.87 
A) $728.73 
B) $7,287.26 
C) $1.53 
D) $72.87

Question 10

Use the percentage method of withholding to find the federal withholding tax, a 6.2% FICA rate to find the FICA tax, and
1.45% to find the Medicare tax. Then find the net pay for the employee. Assume that the employee has not earned over
$115,000 so far this year.  
-Karen Smith has gross earnings of $7512.15 monthly. She is single and has 6 withholding allowances.

Accepted Answer

A) $7,964.90 
B) $6,484.72 
C) $6,937.47 
D) $5,910.04 
A) $7,964.90 
B) $6,484.72 
C) $6,937.47 
D) $5,910.04

Question 11

Use the percentage method of withholding to find the federal withholding tax, a 6.2% FICA rate to find the FICA tax, and
1.45% to find the Medicare tax. Then find the net pay for the employee. Assume that the employee has not earned over
$115,000 so far this year.    
-Erika Du Mesnil has gross earnings of $7914.27 semimonthly. She is married and has 4 withholding allowances.

Accepted Answer

A) $7,308.83 
B) $6,479.34 
C) $5,873.90 
D) $8,743.76 
A) $7,308.83 
B) $6,479.34 
C) $5,873.90 
D) $8,743.76

Question 12

Use the state income tax rate given to find the state withholding tax for the following employee. Round to the nearest
cent.
-

Accepted Answer

A) $3,877.28 
B) $38.77 
C) $387.73 
D) $0.01 
A) $3,877.28 
B) $38.77 
C) $387.73 
D) $0.01

Question 13

Find the gross earnings for the employee.
-Westinghouse Paving pays its salespeople the following commissions.

Accepted Answer

A) $1,200.00 
B) $810.00 
C) $750.00 
D) $60.00 
A) $1,200.00 
B) $810.00 
C) $750.00 
D) $60.00

Question 14

Find the Social Security tax (6.2%), Medicare tax (1.45%), and state disability insurance deduction (1%) for the employee.
Assume the employee is under the FICA and SDI maximums at the end of the current pay period and assume that
time-and-a-half is paid for any overtime in a 40-hour week. Round to the nearest cent if needed.
-

Accepted Answer

A) $21.98, $5.14, $3.55 
B) $23.41, $5.47, $3.78 
C) $32.97, $7.71, $5.32 
D) $19.12, $4.47, $3.08 
A) $21.98, $5.14, $3.55 
B) $23.41, $5.47, $3.78 
C) $32.97, $7.71, $5.32 
D) $19.12, $4.47, $3.08

Question 15

Find the Social Security tax and Medicare tax on the annual gross income of a self-employed individual. For a
self-employed person, the FICA rate is 12.4% and the Medicare rate is 2.9%. Round to the nearest cent if needed.
-Roberta Beltman, freelance photographer, earned $30,199.36

Accepted Answer

A) $1,872.36, $875.78 
B) $3,744.72, $875.78 
C) $1,872.36, $437.89 
D) $3,644.72, $775.78 
A) $1,872.36, $875.78 
B) $3,744.72, $875.78 
C) $1,872.36, $437.89 
D) $3,644.72, $775.78

Question 16

Find the hours, rate, or earnings as specified.
-  Find the number of regular hours, overtime hours (over 8 in a day), and overtime rate (time and a half).

Accepted Answer

A) 35, 0, $15.95 
B) 29, 6, $21.26 
C) 30, 5, $21.26 
D) 29, 6, $15.95 
A) 35, 0, $15.95 
B) 29, 6, $21.26 
C) 30, 5, $21.26 
D) 29, 6, $15.95

Question 17

Find the federal withholding tax for the employee. Use the wage bracket method.  
-

Accepted Answer

A) $16 
B) $17 
C) $18 
D) $15 
A) $16 
B) $17 
C) $18 
D) $15

Question 18

Use the percentage method of withholding, a FICA rate of 6.2%, a Medicare rate of 1.45%, an SDI rate of 1%, and a state
withholding tax of 3.4%. One withholding allowance is $73.08 when paid weekly.  
-Larry Calanan has earnings of $510 in a week. He is single and claims 2 withholding allowances. His deductions include FICA, Medicare, federal withholding, state disability insurance, state
Withholding, union dues of $15, and charitable contributions of $21. Find his net pay.

Accepted Answer

A) $389.85 
B) $361.54 
C) $408.51 
D) $372.51 
A) $389.85 
B) $361.54 
C) $408.51 
D) $372.51

Question 19

Use the percentage method of withholding to find the federal withholding tax, a 6.2% FICA rate to find the FICA tax, and
1.45% to find the Medicare tax. Then find the net pay for the employee. Assume that the employee has not earned over
$115,000 so far this year.  
-Carla LaFong has gross earnings of $3576.57 weekly. She is married and has 2 withholding allowances.

Accepted Answer

A) $2,621.05 
B) $3,302.96 
C) $2,894.66 
D) $3,984.87 
A) $2,621.05 
B) $3,302.96 
C) $2,894.66 
D) $3,984.87

Question 20

Find the equivalent earnings.
-Chuck earns $363 a week. What is his yearly salary?

Accepted Answer

A) $3,630 
B) $18,876 
C) $18,150 
D) $1,573 
A) $3,630 
B) $18,876 
C) $18,150 
D) $1,573

Find the weekly gross earnings. Overtime is paid at the time-and-a-half rate for hours over 40 per week. -

Find the Social Security tax for the current pay period. Assume a 6.2% FICA rate up to a maximum of $115,000. -Gross Earnings This Year: $113,089.05 Current Period Earnings: $4,442.38

Solve the problem. -ACME package delivery pays employees for each package they deliver. They are paid as follows: If Joe delivers 22 packages, what are his gross earnings?

Find the Social Security tax and Medicare tax on the annual gross income of a self-employed individual. For a self-employed person, the FICA rate is 12.4% and the Medicare rate is 2.9%. Round to the nearest cent if needed. -Larry Barnes, management consultant, earned $74,920.84

Solve the problem. -Barbara is paid $10.88 per hour for a 40-hour work week. One week she worked 45.5 hours. She is paid time-and-a-half for overtime. What is Barbara's overtime pay for the week?

Use the state income tax rate given to find the state withholding tax for the following employee. Round to the nearest cent. -

Use the state income tax rate given to find the state withholding tax for the following employee. Round to the nearest cent. -

Find the gross earnings for the employee. -Westinghouse Paving pays its salespeople the following commissions.

Find the Social Security tax and Medicare tax on the annual gross income of a self-employed individual. For a self-employed person, the FICA rate is 12.4% and the Medicare rate is 2.9%. Round to the nearest cent if needed. -Roberta Beltman, freelance photographer, earned $30,199.36

Find the hours, rate, or earnings as specified. - Find the number of regular hours, overtime hours (over 8 in a day), and overtime rate (time and a half).

Find the federal withholding tax for the employee. Use the wage bracket method. -

Find the equivalent earnings. -Chuck earns $363 a week. What is his yearly salary?

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Exam 6: Payroll

Find the weekly gross earnings. Overtime is paid at the time-and-a-half rate for hours over 40 per week. -

Find the Social Security tax for the current pay period. Assume a 6.2% FICA rate up to a maximum of $115,000. -Gross Earnings This Year: $113,089.05 Current Period Earnings: $4,442.38

Solve the problem. -ACME package delivery pays employees for each package they deliver. They are paid as follows: If Joe delivers 22 packages, what are his gross earnings?

Find the Social Security tax and Medicare tax on the annual gross income of a self-employed individual. For a self-employed person, the FICA rate is 12.4% and the Medicare rate is 2.9%. Round to the nearest cent if needed. -Larry Barnes, management consultant, earned $74,920.84

Solve the problem. -Barbara is paid $10.88 per hour for a 40-hour work week. One week she worked 45.5 hours. She is paid time-and-a-half for overtime. What is Barbara's overtime pay for the week?

Use the state income tax rate given to find the state withholding tax for the following employee. Round to the nearest cent. -

Use the state income tax rate given to find the state withholding tax for the following employee. Round to the nearest cent. -

Find the gross earnings for the employee. -Westinghouse Paving pays its salespeople the following commissions.

Find the Social Security tax and Medicare tax on the annual gross income of a self-employed individual. For a self-employed person, the FICA rate is 12.4% and the Medicare rate is 2.9%. Round to the nearest cent if needed. -Roberta Beltman, freelance photographer, earned $30,199.36

Find the hours, rate, or earnings as specified. - Find the number of regular hours, overtime hours (over 8 in a day), and overtime rate (time and a half).

Find the federal withholding tax for the employee. Use the wage bracket method. -

Find the equivalent earnings. -Chuck earns $363 a week. What is his yearly salary?

Whole Numbers and Decimals

Fractions

Percents

Equations and Formulas

Bank Services

Mathematics of Buying

Mathematics of Selling

Simple Interest

Compound Interest and Inflation

Annuities, Stocks, and Bonds

Business and Consumer Loans

Taxes and Insurance

Depreciation

Financial Statements and Ratios

Budgeting and Business Statistics

Filters