PERSONAL FINANCE---TAX DEDUCTIONS--FEBRUARY 1, 2023

Gross Pay is...

• take home pay

• overtime pay

• net pay

• regular pay + overtime pay

Net Pay is...

• pay you get after deductions

• pay you get before deductions

• gross pay

• regular pay + overtime pay

How many hours can you work in a week to be considered REGULAR HOURS?

• 35

• 30

• 40

• 45

If Susan worked 52 hours this week, how many hours did she work OVERTIME?

• 40

• 0

• 10

• 12

What is the RATE used to calculate overtime?

• 5 times

• 2 times

• 1.5 times

• 2.5 times

Joe worked 35 hours this week and earned $17.25 per hour. What is Joe's GROSS PAY?

• $603.75

• $595

• $54.25

• $522.50

What is Melissa's OVERTIME rate per hour if her regular rate is $10.75? (Remember, we use 1.5 when calculating our overtime rate and we round to two decimal places)

• $15.38

• $16.13

• $53.75

• $12.25

How many months are in a year?

• 26

• 4

• 12

• 52

How many weeks are in a year?

• 26

• 4

• 12

• 52

What percent is used to calculate the Social Security deduction?

• 15%

• 6.2%

• 1.45%

• 12%