WRS - Math: Part I

What is gross pay?

• Take-home pay (amount of pay on your paycheck)

• The rate of pay for hours worked that exceed 40 hours per week

• The amount earned before deductions (taxes, medical insurance, etc.)

• The taxes taken out of your paycheck

How much do you pay in taxes? Suppose you earn $450.00 per week and FICA Taxes are withheld at the rate of 12.9%.

How much FICA Tax will be withheld from your pay?

• $12.90

• $58.05

• $580.50

Use the following information for the problem:

Hourly Wage - $7.50 Hours Worked Per Week - 37 Weeks Worked Per Year - 50

What is your weekly gross income?

• $7.50

• $50.00

• $277.50

Joe is the top shoe salesman at the store. He is paid a straight commission of 7% on his total sales. If he sold $4,340.00 in shoe sales in December, what was his commission?

• $303.80

• $400.00

• $342.00

• $325.00

What is Net Pay?

• The amount earned before deductions (taxes, medical insurance, etc.)

• Take-home pay (amount of your paycheck); The amount earned after all deductions

• Earnings based on overtime rate of pay each week

• Rate of pay for hours worked that exceed 400 hours per week

Nicole earns $36,000 a year. If she is paid on a weekly basis, what is her gross pay per week?

• $1,000.00

• $1,500.00

• $692.31

• $700.00

Find the weekly gross earnings for Carolyn, who earns $15,000 a year and is paid weekly.

• $288.46

• $1,846.15

• $179.47

• $1,458.33

Find the gross earnings for Bill each pay period. His annual salary is $35,000 a year and he is paid biweekly.

• $378.79

• $1,559.00

• $1,346.15

Find the amount of the discount.

A $36.00 book is on sale for $27.00. What is the amount of the discount?

• $10.00

• $9.00

• $9.25

• $9.50

A dress for $330.00 was discounted by 24%. What is the new price of the dress?

• $354.00

• $240.00

• $409.20

• $250.80