12-1 Review

What is a payroll?

• The amount paid to an employee for every hour worked

• The method of paying an employee based on the amount of sales generated

• The total amount earned by all employees for a pay period

• The number of days or weeks of work covered by an employee’s paycheck

What is the primary purpose of a timesheet in payroll processing?

• To record the total sales made by an employee

• To track the number of hours worked by an employee

• To calculate the annual leave remaining for an employee

• To monitor the performance of an employee

John works as a software developer. At the end of the month, he receives a paycheck. Which of the following best describes 'gross pay' in this context?

• The amount John earns after deductions

• The total amount John earns before any deductions

• The amount paid to John at an hourly rate

• The total sales generated by John

What is the significance of the 'pay period' in payroll?

• It determines the amount of sales commission an employee earns.

• It is the period over which employee performance is evaluated.

• It is the timeframe for which employees are paid their salaries.

• It indicates the duration of an employee's annual leave.

Imagine Sarah works as an hourly employee at a bakery. Last week, she worked 45 hours. How is her overtime pay calculated?

• By multiplying the standard hourly rate by the number of extra hours worked

• By doubling the standard hourly rate for hours worked beyond the standard workweek

• By multiplying the standard hourly rate by 1.5 for hours worked over 40 in a week

• By providing a fixed bonus regardless of the number of extra hours worked

Method of paying an employee based on sales is called?

How many weeks are in a year would a bi-weekly employee get paid?

• 52

• 24

• 26

• 12

• 22