Free Printable FID February 6, 205

1.

What is the purpose of a W4 form?

a)

To calculate overtime pay

b)

To determine tax withholding

c)

To report annual income

d)

To apply for a job

2.

What information is typically found on an I9 form?

a)

Employee's tax withholding preferences

b)

Employee's eligibility to work in the U.S.

c)

Employee's annual salary

d)

Employee's overtime hours

3.

Which formula is used to calculate straight pay?

a)

$\text{Hourly Rate} \times \text{Overtime Hours}$

b)

$\text{Hourly Rate} \times \text{Regular Hours}$

c)

$\text{Gross Pay} - \text{Deductions}$

d)

$\text{Overtime Rate} \times \text{Overtime Hours}$

4.

How is overtime pay typically calculated?

a)

$\text{Hourly Rate} \times \text{Regular Hours}$

b)

$\text{Hourly Rate} \times 1.5 \times \text{Overtime Hours}$

c)

$\text{Gross Pay} - \text{Deductions}$

d)

$\text{Hourly Rate} \times \text{Total Hours}$

5.

What is the formula for calculating gross pay?

a)

$\text{Straight Pay} + \text{Overtime Pay}$

b)

$\text{Net Pay} + \text{Deductions}$

c)

$\text{Hourly Rate} \times \text{Total Hours}$

d)

$\text{Overtime Rate} \times \text{Overtime Hours}$

6.

If an employee works 40 regular hours and 10 overtime hours at an hourly rate of $20, what is their gross pay?

a)

$800$

b)

$1000$

c)

$1100$

d)

$1300$

7.

What is the overtime rate if the regular hourly rate is $15?

a)

$15$

b)

$22.50$

c)

$30$

d)

$45$

8.

Which document is used by employers to verify an employee's identity and employment authorization?

a)

W4

b)

I9

c)

W2

d)

1099

9.

What is the main purpose of the W2 form?

a)

To report wages and taxes withheld to the IRS

b)

To apply for a job

c)

To calculate overtime pay

d)

To determine tax withholding

10.

If an employee earns $18 per hour and works 45 hours in a week, what is their overtime pay?

a)

$90$

b)

$135$

c)

$180$

d)

$270$

11.

Which of the following is NOT a component of gross pay?

a)

Straight Pay

b)

Overtime Pay

c)

Bonuses

d)

Tax Deductions

12.

If an employee's gross pay is $1500 and deductions are$ 300, what is their net pay?

a)

$1200$

b)

$1500$

c)

$1800$

d)

$300$

13.

What is the formula for calculating net pay?

a)

$\text{Gross Pay} + \text{Deductions}$

b)

$\text{Gross Pay} - \text{Deductions}$

c)

$\text{Straight Pay} + \text{Overtime Pay}$

d)

$\text{Hourly Rate} \times \text{Total Hours}$

14.

If an employee's regular pay is $800 and their overtime pay is$ 200, what is their gross pay?

a)

$600$

b)

$800$

c)

$1000$

d)

$1200$

15.

What is the primary use of the W4 form for employees?

a)

To report annual income to the IRS

b)

To determine the amount of tax to withhold from their paycheck

c)

To verify employment eligibility

d)

To calculate gross pay

16.

What is the main difference between a W-2 and a W-4 form?

a)

A W-2 form is used to apply for jobs, while a W-4 form is used for tax purposes.

b)

A W-2 form is for reporting annual wages and the amount of taxes withheld, while a W-4 form is used to determine the amount of taxes to withhold.

c)

A W-4 form is used to report tips, while a W-2 form is used to report salaries.

d)

There is no difference; they are used interchangeably.

17.

What is the purpose of a W-4 form?

a)

To report your annual earnings to the IRS.

b)

To determine the amount of taxes to be withheld from your paycheck.

c)

To report the taxes you've paid throughout the year.

d)

To calculate your sales tax.

18.

What information does a W-2 form include?

a)

Your filing status and dependents.

b)

The amount of money you've earned from self-employment.

c)

The total amount of taxes withheld from your paycheck.

d)

Your bank account information.

19.

Define:

Gross Pay

a)

The total amount of an employees earnings after deductions

b)

Gross Pay = Hours Worked - Hourly Rate

c)

The total amount of an employees earnings before deductions

d)

Gross Pay = Hours Worked + Hourly Rate

20.

What is the difference between gross pay and net pay?

a)

Gross pay is before taxes, and net pay is after taxes.

b)

Gross pay is after taxes, and net pay is before taxes.

c)

Gross pay and net pay are the same.

d)

Net pay includes bonuses, while gross pay does not.

21.

To calculate your weekly wages...

a)

Trust your boss to just pay you enough

b)

Divide your annual pay by the number of hours you work in a week.

c)

Multiply your hourly pay by the number of hours you work each week.

d)

Take your hourly pay times the number of hours you work a day.

22.

Full time work is

a)

Less than 30 hours a week

b)

Anything more than 20 hours per week

c)

24 hours a day

d)

Between 30 and 40 hours per week

23.

If you work 35 hours per week, and make $11.80 an hour, the calculation for MONTHLY pay is...

a)

35+$11.80+4

b)

35 x $11.80 x 4

c)

35 / 4 x 11.80

d)

35 x 40

24.

If you work for $19.00 an hour and work 20 hours per week, the calculation for WEEKLY pay is

a)

$19.00 x 20 x 4

b)

$19.00 x 8 x 4

c)

$19.00 + 180.00

d)

$19.00 x 20 x 1

25.

If you have a SALARIED job that pays $45,000 a year, the calculation to find MONTHLY pay would be...

a)

$45,000 x 52

b)

$45,000 / 52

c)

$45,000 / 12

d)

$3,750 x 12

26.

If you work for $14.00 an hour and worked 60 hours in a week, you would calculate your salary with...

a)

$14.00 x 60 x 1

b)

$14.00 x 40 x 1.5

c)

(($14.00 x 40) + ($21.00 x 20)) x 1.5

d)

(($14.00 x 40) + ($21.00 x 20)) x 1

27.

Carol Jones is a receptionist in a doctor’s office. She worked 35 hours this week. If her regular pay is $9.68 per hour, what is Carol’s gross pay?

a)

$438

b)

$338

c)

$35

28.

Bill Granger is a parts clerk. He worked a total of 46.25 hours from Monday to Friday this week. If his regular pay is $12.75 per hour, how much overtime pay did Bill earn?

a)

$19.13

b)

$119.56

c)

$589.69

29.

Tonya Smith is a cashier at the local supermarket. She worked a total of 42.5 hours this week. If her regular pay is $8.25, what is Tonya’s gross pay?

a)

$360.94

b)

$330

c)

$350.63

30.

Janet Henderson is a secretary. She works Monday to Friday every week. If she worked a total of 44.5 hours this week, and her regular pay is $11.46 per hour, what is Janet’s regular pay?

What is Janet’s overtime pay?

What is Janet’s gross pay?

a)

$458.40

b)

$509.97

c)

$11.46

31.

Janet Henderson is a secretary. She works Monday to Friday every week. If she worked a total of 44.5 hours this week, and her regular pay is $11.46 per hour, What is Janet’s overtime pay?

a)

$51.57

b)

$77.36

c)

$509.97

32.

Janet Henderson is a secretary. She works Monday to Friday every week. If she worked a total of 44.5 hours this week, and her regular pay is $11.46 per hour, What is Janet’s gross pay?

a)

$458.40

b)

$509.97

c)

$535.76

33.

Carol Jones is a receptionist in a doctor’s office. She worked 35 hours this week. If her regular pay is $9.68 per hour, what is Carol’s overtime pay rate

a)

$9.68

b)

$14.52

c)

$338.80

34.

Michael works in a supermarket. He is paid $10.80 per hour.

How much will he earn if he works a 37 hour week?

a)

$399.60

b)

$400

c)

$10.80

35.

Michael works in a supermarket. He is paid $10.80 per hour.

What is Michael's overtime pay rate?

a)

$10.80

b)

$16.20

c)

$7.20

36.

Natasha is a hairdresser. She earns $12.20 per hour.

How much will she earn in a week where she works 42 hours

a)

$512.40

b)

$488

c)

$524.60

37.

To calculate your weekly wages...

a)

Trust your boss to just pay you enough

b)

Divide your annual pay by the number of hours you work in a week.

c)

Multiply your hourly pay by the number of hours you work each week.

d)

Take your hourly pay times the number of hours you work a day.

38.

How do you solve for Overtime pay?

a)

x 1.5

b)

x 2

39.

Salary pay means...

a)

You multiply your hourly wage by the number of hours you work.

b)

You only earn that amount of money in a year - regardless of the hours you work.

c)

You qualify for a lot of overtime and will make tons of money!

d)

You qualify for job-supplemented health insurance.

40.

How do you solve for double time rate of pay?

a)

x 1.5

b)

x 2

41.

Minimum wage in Wisconsin is...

a)

$15.35

b)

$7.25

c)

$13.15

d)

$2.50

42.

Full time work is

a)

Less than 30 hours a week

b)

Anything more than 20 hours per week

c)

24 hours a day

d)

Between 30 and 40 hours per week

43.

The equation we use to calculate weekly pay is...

a)

$ hourly pay x # of hours worked that week

b)

$ hourly pay x # of hours worked that month

c)

$ hourly pay x 52 weeks in a year

d)

Salary / # of hours worked

44.

If you work 35 hours per week, and make $11.80 an hour, the calculation for MONTHLY pay is...

a)

35+$11.80+4

b)

35 x $11.80 x 4

c)

35 / 4 x 11.80

d)

35 x 40

45.

If you work for $19.00 an hour and work 20 hours per week, the calculation for WEEKLY pay is

a)

$19.00 x 20 x 4

b)

$19.00 x 8 x 4

c)

$19.00 + 180.00

d)

$19.00 x 20 x 1

46.

If you have a SALARIED job that pays $45,000 a year, the calculation to find MONTHLY pay would be...

a)

$45,000 x 52

b)

$45,000 / 52

c)

$45,000 / 12

d)

$3,750 x 12

47.

Overtime means...

a)

You worked you scheduled hours and your boss can't ask you to come in to cover more shifts

b)

You worked more than your scheduled hours and earn "pay and a half" for every hour above your normal schedule

c)

You were paid more than you were supposed to, you'll have to pay it back later.

d)

You worked more than your scheduled hours and earn "normal wages" for every hour above your normal schedule

48.

If you work for $14.00 an hour and worked 60 hours in a week, you would calculate your salary with...

a)

$14.00 x 60 x 1

b)

$14.00 x 40 x 1.5

c)

(($14.00 x 40) + ($21.00 x 20)) x 1.5

d)

(($14.00 x 40) + ($21.00 x 20)) x 1

49.

Carol Jones is a receptionist in a doctor’s office. She worked 35 hours this week. If her regular pay is $9.68 per hour, what is Carol’s gross pay?

a)

$438

b)

$338

c)

$35

50.

Bill Granger is a parts clerk. He worked a total of 46.25 hours from Monday to Friday this week. If his regular pay is $12.75 per hour, how much overtime pay did Bill earn?

a)

$19.13

b)

$119.56

c)

$589.69

51.

Tonya Smith is a cashier at the local supermarket. She worked a total of 42.5 hours this week. If her regular pay is $8.25, what is Tonya’s gross pay?

a)

$360.94

b)

$330

c)

$350.63

52.

Janet Henderson is a secretary. She works Monday to Friday every week. If she worked a total of 44.5 hours this week, and her regular pay is $11.46 per hour, what is Janet’s regular pay?

What is Janet’s overtime pay?

What is Janet’s gross pay?

a)

$458.40

b)

$509.97

c)

$11.46

53.

Janet Henderson is a secretary. She works Monday to Friday every week. If she worked a total of 44.5 hours this week, and her regular pay is $11.46 per hour, What is Janet’s overtime pay?

a)

$51.57

b)

$77.36

c)

$509.97

54.

Janet Henderson is a secretary. She works Monday to Friday every week. If she worked a total of 44.5 hours this week, and her regular pay is $11.46 per hour, What is Janet’s gross pay?

a)

$458.40

b)

$509.97

c)

$535.76

55.

Carol Jones is a receptionist in a doctor’s office. She worked 35 hours this week. If her regular pay is $9.68 per hour, what is Carol’s overtime pay rate

a)

$9.68

b)

$14.52

c)

$338.80

56.

Michael works in a supermarket. He is paid $10.80 per hour.

How much will he earn if he works a 37 hour week?

a)

$399.60

b)

$400

c)

$10.80

57.

Michael works in a supermarket. He is paid $10.80 per hour.

What is Michael's overtime pay rate?

a)

$10.80

b)

$16.20

c)

$7.20

58.

Natasha is a hairdresser. She earns $12.20 per hour.

How much will she earn in a week where she works 42 hours

a)

$512.40

b)

$488

c)

$524.60

59.

To calculate your weekly wages...

a)

Trust your boss to just pay you enough

b)

Divide your annual pay by the number of hours you work in a week.

c)

Multiply your hourly pay by the number of hours you work each week.

d)

Take your hourly pay times the number of hours you work a day.

60.

How do you solve for Overtime pay?

a)

x 1.5

b)

x 2

61.

Salary pay means...

a)

You multiply your hourly wage by the number of hours you work.

b)

You only earn that amount of money in a year - regardless of the hours you work.

c)

You qualify for a lot of overtime and will make tons of money!

d)

You qualify for job-supplemented health insurance.

62.

How do you solve for double time rate of pay?

a)

x 1.5

b)

x 2

63.

Minimum wage in Wisconsin is...

a)

$15.35

b)

$7.25

c)

$13.15

d)

$2.50

64.

Full time work is

a)

Less than 30 hours a week

b)

Anything more than 20 hours per week

c)

24 hours a day

d)

Between 30 and 40 hours per week

65.

The equation we use to calculate weekly pay is...

a)

$ hourly pay x # of hours worked that week

b)

$ hourly pay x # of hours worked that month

c)

$ hourly pay x 52 weeks in a year

d)

Salary / # of hours worked

66.

If you work 35 hours per week, and make $11.80 an hour, the calculation for MONTHLY pay is...

a)

35+$11.80+4

b)

35 x $11.80 x 4

c)

35 / 4 x 11.80

d)

35 x 40

67.

If you work for $19.00 an hour and work 20 hours per week, the calculation for WEEKLY pay is

a)

$19.00 x 20 x 4

b)

$19.00 x 8 x 4

c)

$19.00 + 180.00

d)

$19.00 x 20 x 1

68.

If you have a SALARIED job that pays $45,000 a year, the calculation to find MONTHLY pay would be...

a)

$45,000 x 52

b)

$45,000 / 52

c)

$45,000 / 12

d)

$3,750 x 12

69.

Overtime means...

a)

You worked you scheduled hours and your boss can't ask you to come in to cover more shifts

b)

You worked more than your scheduled hours and earn "pay and a half" for every hour above your normal schedule

c)

You were paid more than you were supposed to, you'll have to pay it back later.

d)

You worked more than your scheduled hours and earn "normal wages" for every hour above your normal schedule

70.

If you work for $14.00 an hour and worked 60 hours in a week, you would calculate your salary with...

a)

$14.00 x 60 x 1

b)

$14.00 x 40 x 1.5

c)

(($14.00 x 40) + ($21.00 x 20)) x 1.5

d)

(($14.00 x 40) + ($21.00 x 20)) x 1

FID February 6, 205

Total questions: 70

Worksheet time: 11hrs 19mins