WorksheetsNet Pay (Ch 2)
Total questions: 16
Worksheet time: 20mins
Name
Class
Date
1.
The total amount you earn before any deductions are subtracted is called __________ pay.
a)
Bonus
b)
Gross
c)
Incentive
d)
Net
2.
A car salesperson receives a commission of 8% on all sales. If he sold $40,000 worth of cars in one week, find his commission.
a)
$320,000.00
b)
$5000.00
c)
$3200.00
3.
__________ is time worked beyond the regular hours.
a)
Flextime
b)
Bonus
c)
Wage
d)
Overtime
4.
For employees, the Social Security deduction is withheld at the rate of
a)
1.45 percent of all pay earned
b)
1.45 percent of the first $117,00 earned
c)
6.2 percent of all pay earned
d)
6.2 percent of the first $97,500 earned
5.
Rate × Hours Worked =
a)
Net Pay
b)
Overtime Pay
c)
Incentive Pay
d)
Gross Pay
6.
Some deductions are required by law, but others are optional.
a)
True
b)
False
7.
Which of the following is not a required deduction?
a)
Federal Income Tax
b)
Savings Deposits
c)
State tax
d)
Social security Tax
8.
A gardener earns $15 per hour. If he works 20 hours, how much will he earn?
a)
$300
b)
$5
c)
$240
9.
What is your taxable wages?
a)
the amount you spend annually
b)
the amount of your property value
c)
the amount on which you pay tax
d)
the amount that you earn annually
10.
Annual means...
a)
yearly
b)
monthly
c)
bi-monthly
d)
weekly
11.
Tony is married with two kids, how many exemptions can he claim?
a)
One
b)
Two
c)
Three
d)
Four
12.
Jim makes $65,000 per year, has exemptions of $10,000, what is the annual state income tax paid? State Tax Rate = 4%
a)
$2600
b)
$2000
c)
$2200
d)
$3200
13.
Maggie is single, earns $455 weekly and claims two allowances. What is the amount of FEDERAL income tax withheld?
a)
$34
b)
$30
c)
$28
d)
$26
14.
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?
a)
SS=$12.47, M=$2.70
b)
SS=$15.82, M=$3.70
c)
SS=$13.97, M=$3.41
d)
SS=$15.82, M=$24.25
15.
Cassandra has an insurance premium of $6800 a year. Her employer pays 75%. She receives her pay in 24 pay periods. What is her deduction per pay period?
a)
$5100
b)
$212.75
c)
$1700
d)
$70.83
16.
Chad's monthly gross salary is $2540. He pays 6.2% SS Tax, 1.45% Medicare Tax, and $153.80 for health insurance. What is his monthly net pay?
a)
$2254.87
b)
$2191.89
c)
$2386.20
d)
I'm lost...help!
100 %
