Employee Pay & Benefits

? is the amount you take home

? is the amount you make before any deductions.

? is the amount you get paid for the hours you work, including overtime.

? is the amount you get paid no matter if you have worked over or under 40 hours in a week.

What is the standard overtime rate?

• 2 times over regular pay

• 1 times over regular pay

• 1 1/4 over regular pay

• 1 1/2 over regular pay

Jennifer earns $12 per hour and gets OT at the standard rate for any hours over 40 that she works in a week. Last week she worked 42 hours. What would her Total Gross Pay be?

• $480

• $516

• $645

• $36

What are the 3 main deductions taken from each employee’s check?

• Federal Tax, 

  State Tax, Simple Tax.

• State Tax,  

  Medicare & Social Security Tax

• Poor Tax, Rich Tax, All Taxes are Theft

• Federal Tax, 

  State Tax,  

  Medicare & Social Security Tax

Person A claims 2 allowances on his W-4 form, while Person B claims 1 allowance. Assuming they are both single and make the same amount of money, whose check will be larger?

• Person A

• Person B

• Person C

• Person D

? Allows employees to receive a portion of the company’s profits at the end of the year.

• Paid Vacation

• Profit Sharing

• Sick Pay

• Stock Options

? Set amount of time off per year

• Travel Expenses

• Bonuses

• Leaves of Absences

• Paid Vacations