Unit 2: Lesson 1 Homework

Yvonne's gross income:  $703
Yvonne's deductions:  $251.18
Yvonne's net income:  ?

• $451.82
• $551.82
• $954.18
• $25,812.00

Dayanara's gross income was $550.  What was her net income if her deductions were $110 for payroll taxes and $22.50 for health insurance?

• $132.50
• $417.50
• $440.00
• $638.50

A person's weekly gross pay is $1,500. The deductions are: Federal income tax is $120, State Income Tax is $60.25, Social Security tax is $93, Medicare is $21.75, and Health Insurance is $55. What is the person's net pay?

• $1,350

• $1,295

• $1,195

• $1,150

James' gross pay for the month is $8,000. He pays $1,035 in Federal Income Tax, $465 in State Income Tax, $496 in Social Security Tax, $116 in Medicare, and $388 in Health Insurance. What is James' net pay for the month?

• $2,500

• $5,500

• $6,500

• $7,000

Net Pay is...

• pay you get after deductions

• pay you get before deductions

• gross pay

• regular pay + overtime pay

David's gross income: $127.25

David's deductions: $25.20

David's net pay: ?

• $102.05

• $102.45

• $112.05

• $152.45

Which tends to be a 'larger' amount of money? Gross or Net Pay?

• Gross Pay

• Net Pay

For employees, the Social Security deduction is withheld at the rate of 

• 1.45%

• 1.97%

• 6.2 %

• 6.5%

Maggie is single, earns $455 weekly and claims two allowances. What is the amount of FEDERAL income tax withheld?

• $22

• $30

• $28

• $26

Denny earns $255.20 a week.  The Social Security Tax rate is 6.2%, Medicare tax is 1.45% of gross pay.  How much is withheld for each?

• SS=$12.47, M=$2.70
• SS=$15.82, M=$3.70
• SS=$13.97, M=$3.41
• SS=$15.82, M=$24.25