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payroll

Total questions: 17

Worksheet time: 13mins

Name
Class
Date
1.

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

a)

State Taxes

b)

FICA Taxes

c)

Federal Taxes

d)

Retirement Fund

2.

The amount of income tax withheld is based upon (choose two)

a)

marital status

b)

age

c)

your type of job

d)

number of withholding allowances

3.

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

4.

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

5.

What does FICA stand for?

a)

Financial Insurance Contributions Act

b)

Financial Insurance Community Act

c)

Federal Income Contributions Act

d)

Federal Insurance Contributions Act

6.

An employee's total earnings is known as net pay.

a)

True

b)

False

7.

Gross income

a)

Individual earnings after taxes, garnishments and contributions

b)

An individual's income before taxes and adjustments

8.

What form must be provided yearly by your employer to each employee showing the total salary earned and the taxes withheld?

a)

W2

b)

W3

c)

W6

d)

W5

9.

Net pay

a)

is also known as take-home pay.

b)

is more than gross pay.

c)

depends on how much the employee wants to pay in Social Security taxes

d)

is gross pay minus 7.65%.

10.

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

a)

$9.24

b)

$27.74

c)

$36.98

d)

$24.24

11.

To which federal agency could an employee report about hazardous working conditions?

a)

FDA

b)

OSHA

c)

DMV

d)

USDA

12.

Reflects the amounts that are automatically deposited into the bank accounts specified by the employee

a)

Deductions

b)

Wages

c)

Direct deposit

d)

Gross pay

13.

Payroll and income taxes are withheld from employees’ pay by their (a)   .

14.

Wages, salary and commission are examples of what type of income?

a)

Earned

b)

Portfolio

c)

Passive

15.

The Fair Labor Standards Act provides which to employees who work over 40 hours per week?

a)

1 1/2 x regular rate

b)

2 x regular rate

c)

same as regular rate

d)

2 1/2 x regular rate

16.

Monetary subtractions from the employee's gross pay

a)

Salary

b)

Wages

c)

Deductions

d)

Gross pay

17.

Total amount of money earned for the entire year up to the current pay period

a)

Year to Day

b)

Year to Date

c)

Year to Time

d)

Year to Cost