Hope's Paycheck Flashcard - Updated

Front

About how frequently does Hope receive a paycheck? Options: Daily, Weekly, Every two weeks, Monthly

Back

Every two weeks

Front

What is Hope’s Hourly Rate?

Back

15

Front

If Hope worked 35 hours during this pay period, what would her Gross Pay have been?

Back

$525

Front

Which statement below accurately describes Hope’s gross wages? Gross wages are calculated by multiplying Hope’s hourly rate by the number of hours she worked, Gross wages are Hope’s fixed salary, which she receives for every pay period, Gross wages are calculated by subtracting all of Hope’s deductions from her gross income, Gross wages are how much Hope has earned over the course of the entire year

Back

Gross wages are calculated by multiplying Hope’s hourly rate by the number of hours she worked.

Front

What was the largest deduction for this pay period? Options: FICA Medicare Tax, FICA Social Security Tax, Federal Tax, NC State Tax

Back

Federal Tax

Front

Look at the lines that say HEALTH, DENTAL, and RETIREMENT. Which statement below is accurate?

Back

Those lines represent insurance and retirement plans that Hope funds directly from her paycheck.

Front

Hope's contribution to her RETIREMENT plan...

Back

is pre-tax and therefore not included in federal income taxes

Front

What was the TOTAL amount deducted from Hope's latest paycheck?

Back

$315.21

Front

One of Hope’s coworkers quits, and during the next pay period Hope works 60 hours instead of 40 to help cover the shifts. Which of Hope’s deductions will definitely change as a result?

Back

Her Federal tax

Front

Which of the following statements is TRUE?
Hope has had more deductions this year than take home pay
Hope has had more take home pay this year than deductions
Hope has had equal amounts of take home pay and deductions this year
Hope’s paystub only shows deductions and take home pay for this pay period, not the entire year to date

Back

Hope has had more deductions this year than take home pay