PF - Ch. 2 Review (Getting Paid)

Front

Overtime pay decreases the amount of money you make in a week.

Back

False

Front

Social Security Tax is ____ of your gross income.

Back

6.2%

Front

Medicare Tax is ____ of your gross income.

Back

1.45%

Front

To calculate the amount of Federal Taxes withheld from your paycheck you have to look at a Federal Taxes Withholding Chart.

Back

True

Front

Which of the following holidays is NOT a holiday that people normally work on but get paid for? Labor Day, Christmas, Thanksgiving, All are examples of paid holidays

Back

All are examples of paid holidays

Front

Money offered to encourage employees to strive for higher levels of performance is known as...

Back

incentive pay

Front

The total amount of $$ earned BEFORE any deductions are subtracted is known as..

Back

gross pay

Front

The total of 15.3% for Social Security tax & Medicare tax paid by people who work for themselves is known as...

Back

Self Employment tax

Front

Calculate gross pay for 45 hours worked @ $8.55 per hour.

Back

$406.13

Front

You are paid by salary. You get paid bi-weekly. How many paychecks do you get in 1 year?

Back

26