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Worksheets

Net Income Ch 2

Total questions: 9

Worksheet time: 45mins

Name
Class
Date
1.

Tonya Westin’s gross pay for the week is $357.89. She is married and claims no allowances. Use the table on page A4 in the text. What amount will be withheld for FIT?

a)

$14.00

b)

$15.00

c)

$19.00

d)

$20.00

2.

Dwight Fisher earns $42,500. He is married with three dependents which gives him a $10,000 exemption. His state had an income tax rate of 4.5%. How much does Dwight’s employer withhold annually from his gross earnings for state income tax?

a)

$450.00

b)

$1230.90

c)

$1462.50

d)

$1912.50

3.

ALGEBRA Reena Garcia is a sales manager. She is single and takes a $2,000 exemption. The state income tax rate is 3%. If her employer withholds $3,900 for state income tax annually, find her annual salary.

a)

$85,400

b)

$101,250

c)

$125,600

d)

$132,000

4.

Mary Jane Porter has an annual gross pay of $32,100. Her exemptions total $3,500. The state tax on the first $5,000 is 1.5% and on amounts over $5,000 is 4.2%. Find the total tax withheld.

a)

$1009.85

b)

$1066.20

c)

$1213.20

d)

$1430.85

5.

Kyle Gruber’s gross pay this month is $5,432.50. His earnings to date for the year total $12,300.75. How much does his employer deduct from his paycheck this month for Social Security?

a)

$336.82

b)

$356.59

c)

$511.85

d)

$575.60

6.

Sui Chun’s gross pay last week was $2,350. Her earnings to date for the year are $43,500. How much did her employer deduct from her paycheck last week for Medicare?

a)

$34.08

b)

$47.00

c)

$58.75

d)

$65.90

7.

Tamara Matta’s annual group insurance costs $5,800, and her company pays 75% of the cost. How much does Tamara pay monthly for insurance?

a)

$100.90

b)

$120.83

c)

$280.50

d)

$362.50

8.

ALGEBRA Danford Kayne pays $231.60 per month for his group medical coverage. His employer pays 35% of the cost. How much is the annual premium for Danford’s health insurance?

a)

$2779.20

b)

$3843.10

c)

$4275.69

d)

$5904.33

9.

Erika Morley’s gross weekly salary is $825.75. She is married with no dependents. The following deductions are made each week: $31.00 for federal tax; 6.45% for Social Security and 1.45% for Medicare; $42.50 for medical insurance. The state tax rate is 1.5% of gross. What is Erika’s net pay?

a)

$543.96

b)

$550.76

c)

$612.09

d)

$676.69