3 / 27 / 20 - Gross & Net Income Review

Lily’s gross pay is $350.00. The Medicare tax rate is 1.45%. How much Medicare tax does Lily pay?

• $507.50

• $50.75

• $5.08

• $5.75

Patty’s insurance costs $3,400. If Con Edison, her employer, pays 40%, how much does Patty pay?

(Hint: Don't forget to calculate the % Patty pays first!)

• $3,000

• $600

• $3,040

• $2,040

Dane’s gross biweekly pay as a receptionist is $560. If the Social Security tax rate is 5.4% and the Medicare tax rate is 2.3%, what is the total amount of deductions from his pay for Social Security and Medicare?

• $30.24

• $12.88

• $43.12

• $43.88

Marty’s annual taxable salary is $56,000 as a computer-aided designer. If the state tax rate is 4%, what does he pay yearly in state taxes?

• $3,240

• $2,240

• $4,000

• $4,220

A person’s earnings BEFORE deductions are taken from their paycheck is called

• Net Pay

• Non-Deduction Pay

• Gross Pay

• Total Pay

If a person’s annual salary is $51,036, her MONTHLY salary is...

• $2,126.50

• $1,962.92

• $981.46

• $4,253.00

If a person’s yearly salary is $34,992, and he is paid semimonthly, his gross pay is...

• $1,458.00

• $1,345.85

• $672.92

• $2,916.00

If a person’s yearly salary is $49,920.00, her weekly gross pay is

• $4,160.00

• $1,920.00

• $960.00

• $2,080.00

Sheila earns $14.32 per hour. If she works 32 hours per week, her gross pay is...

• $572.80

• $458.24

• $515.52

• $429.60

Maria earned $661.96 gross pay last week. If she worked 38 hours, find her hourly rate of pay.

• $16.55

• $14.32

• $17.42

• $18.39