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Payroll Calculations Practice

Total questions: 19

Worksheet time: 9mins

Name
Class
Date
1.

If you get paid weekly then you will get ....... paychecks per year?

a)

12

b)

24

c)

26

d)

52

2.

If you get paid biweekly then you will get ....... paychecks per year?

a)

12

b)

24

c)

26

d)

52

3.

If you receive 24 paycheck a year, then you get paid.....

a)

Weekly

b)

BiWeekly

c)

Semi-Monthly

d)

Monthly

4.

If you make $18.49, what will be your overtime rate?

a)

$9.24

b)

$27.74

c)

$36.98

d)

$24.24

5.

If you work 34 hours in a week, and your hourly wages are $13.25, what will your gross pay be for the week?

a)

$20.75

b)

$386.28

c)

$450.50

d)

$530

6.

You are a salary employee and make $61,618.00 a year. You get paid monthly. Calculate your gross pay for a single paycheck.

a)

$1,184.96

b)

$2,369.92

c)

$2,567.41

d)

$5,134.83

7.

You are a salary employee and you make $47,415.00 and get paid semi-monthly, calculate your gross pay for a single paycheck.

a)

$911.83

b)

$1,823.65

c)

$1,975.63

d)

$3,951.25

8.

Your wages are $14.00 an hour and you worked 51 hours last week. How much will you make in overtime pay?

a)

$714.00

b)

$154

c)

$21

d)

$231

9.

Select the payroll deductions that are taken out prior to taxes.

a)

401k

b)

Fica Taxes

c)

Medical Premiums

d)

Dental Premiums

10.

Select the three taxes that are taken out of every paycheck.

a)

State Taxes

b)

FICA Taxes

c)

Federal Taxes

d)

Retirement Fund

11.

The state income tax rate in Wisconsin is.....

a)

1.45%

b)

6.2%

c)

7.65%

d)

11.24%

12.

This may be added to your gross pay if you do not take the companies insurance.....

a)

Medical Premium

b)

Dental Premium

c)

401k Match

d)

Medical Opt. Out Premium

13.

These do not effect your weekly paycheck, but should be considered when you accept a job.

a)

401k Employer Match

b)

Medical Insurance Deductible

c)

State Tax Rate

d)

Medical Premiums

14.

If your paycheck is $935.27, and you claim 1 exemption. How much federal tax will you pay?

a)

108

b)

84

c)

60

d)

90

15.

The two fica taxes are.......

a)

Social Security & State Income Tax

b)

Social Security & Medicare

c)

State Income Tax & Federal Income Tax

d)

Medicare & Unemployment

16.

Your federal income tax rate is determined by one of two ways. Either the IRS Tax Table Method or the IRS Percentage Method.

a)

True

b)

False

17.

You worked 91 hours your last pay period. Assuming you make $15.00 and hour, how big will you paycheck be prior to deductions? You get paid overtime for any hours over 80 in a pay period.

a)

$1,200

b)

$1,365

c)

$1,447.5

d)

$2,047.5

18.

This is the amount of your paycheck prior to deductions coming out.

a)

Salary

b)

Taxable Gross Pay

c)

Net Pay

d)

Gross Pay

19.

You make $23.74, what would be your overtime rate?

a)

$11.87

b)

$35.27

c)

$47.48