Question 1

A married person will pay in more Social Security and Medicare tax than a single person.

Accepted Answer

A) True 
 B)False  False

Question 2

Overtime is always calculated at time and a half the regular rate.

Accepted Answer

A) True 
 B)False  False

Question 3

Jim Smith is a salesman who receives a $1,100 draw per week. He receives a 12% commission on all sales. Sales for Jim were $205,000 for the month. Assuming a four-week month, Jim's final commission after the draw for the month is:

Accepted Answer

A) $24,600 
B) $20,200 
C) $23,500 
D) $26,400 
E) None of these 
A) $24,600 
B) $20,200 
C) $23,500 
D) $26,400 
E) None of these B

Question 4

The number of dependents one claims does not affect the amount of Social Security and Medicare tax paid.

Accepted Answer

A) True 
 B)False

Question 5

Dan Zabrowski works according to the following schedule for a given week, and is paid overtime at 1.5 times. Find his total hours, and his gross pay for the week.
 $$\begin{array} { | c | c | c | c | c | c | c | c | c | c | } 
\hline \text { Employee } & \text { M } & \text { T } & \text { W } & \text { TH } & \text { F } & \text { S } & \text { Total Hrs } & \text { Rate per Hr } & \begin{array} { c } 
\text { Gross } \
\text { Pay }
\end{array} \
\hline \text { Dan Z. } & 10.5 & 10.5 & 0 & 10.5 & 0 & 10.5 & \text { A } & \$ 15.80 & \text { B } \
\hline
\end{array}$$

Accepted Answer

A. 42 hrs;

Question 6

Jill is $200 from reaching maximum base as related to cumulative earnings for Social Security. She is paid weekly:
 $$\begin{array} { | c | c | c | c | c | c | c | c | } 
\hline & \begin{array} { c } 
\text { Marital } \
\text { Status }
\end{array} & \begin{array} { c } 
\text { Exemptions } \
\text { Claimed }
\end{array} & \text { Gross } & \text { FIT } & \begin{array} { c } 
\text { Soc. } \
\text { Sec. }
\end{array} & \text { Medicare } & \text { Net Pay } \
\hline \text { Jill Rye } & \mathrm { M } & 3 & \$ 950 & \mathrm {~A} & \mathrm {~B} & \mathrm { C } & \mathrm { D } \
\hline
\end{array}$$

Accepted Answer

A)$51.31 B

Question 7

Robin Small pays her three workers $180, $450, and $615, respectively, per week. Calculate what Robin will pay at the end of the first quarter for (A)state unemployment and (B)federal unemployment. Assume a state rate of 5.8%. Federal rate is .6%. Base is $7,000.

Accepted Answer

180 × 13 = 2,340, 450 × 13 = 5

Question 8

Match the following terms with their definitions.
-SUTA

Accepted Answer

A) May be used in calculating Social Security and Medicare 
B) Pay rate based on schedule of units completed 
C) Income tax 
D) Minimum wage standard 
E) Alternative method to percentage method
F)52 times a year
G)Aids in determining amount of FIT withheld
H)26 times a year
I)Method to calculate FIT
J)24 times a year
K)Different levels result in different commission scales
L)Wages subject to tax
M)Commission to manager
N)Broken down into Social Security and Medicare
O)Wages before deductions
P)Gross pay minus deductions
Q)Aids unemployment program
R)Wages based on percent of the value of goods sold
S)Affected by company's employment record 
A) May be used in calculating Social Security and Medicare 
B) Pay rate based on schedule of units completed 
C) Income tax 
D) Minimum wage standard 
E) Alternative method to percentage method
F)52 times a year
G)Aids in determining amount of FIT withheld
H)26 times a year
I)Method to calculate FIT
J)24 times a year
K)Different levels result in different commission scales
L)Wages subject to tax
M)Commission to manager
N)Broken down into Social Security and Medicare
O)Wages before deductions
P)Gross pay minus deductions
Q)Aids unemployment program
R)Wages based on percent of the value of goods sold
S)Affected by company's employment record

Question 9

A variable commission scale means that for different levels of net sales there are different commission rates.

Accepted Answer

A) True 
 B)False

Question 10

If you are paid twice a month, you are being paid:

Accepted Answer

A) Weekly 
B) Biweekly 
C) Semimonthly 
D) Monthly 
E) None of these 
A) Weekly 
B) Biweekly 
C) Semimonthly 
D) Monthly 
E) None of these

Question 11

Ron Swift earned $1,500 last week. He is married, is paid biweekly, and claims two exemptions. Using the percentage method (use tables in the handbook), his income tax is:

Accepted Answer

A) $109.69 
B) $116.40 
C) $73.76 
D) $140.88 
E) None of these 
A) $109.69 
B) $116.40 
C) $73.76 
D) $140.88 
E) None of these

Question 12

FICA stands for federal withholding tax.

Accepted Answer

A) True 
 B)False

Question 13

Match the following terms with their definitions.
-Taxable earnings

Accepted Answer

A) May be used in calculating Social Security and Medicare 
B) Pay rate based on schedule of units completed 
C) Income tax 
D) Minimum wage standard 
E) Alternative method to percentage method
F)52 times a year
G)Aids in determining amount of FIT withheld
H)26 times a year
I)Method to calculate FIT
J)24 times a year
K)Different levels result in different commission scales
L)Wages subject to tax
M)Commission to manager
N)Broken down into Social Security and Medicare
O)Wages before deductions
P)Gross pay minus deductions
Q)Aids unemployment program
R)Wages based on percent of the value of goods sold
S)Affected by company's employment record 
A) May be used in calculating Social Security and Medicare 
B) Pay rate based on schedule of units completed 
C) Income tax 
D) Minimum wage standard 
E) Alternative method to percentage method
F)52 times a year
G)Aids in determining amount of FIT withheld
H)26 times a year
I)Method to calculate FIT
J)24 times a year
K)Different levels result in different commission scales
L)Wages subject to tax
M)Commission to manager
N)Broken down into Social Security and Medicare
O)Wages before deductions
P)Gross pay minus deductions
Q)Aids unemployment program
R)Wages based on percent of the value of goods sold
S)Affected by company's employment record

Question 14

A self-employed person has at least three employees.

Accepted Answer

A) True 
 B)False

Question 15

Jim Ross is an automobile salesman who receives a salary of $500 per week plus a commission of 3% on all sales. During a four-week period he sold $42,000 worth of cars. What were Jim's average weekly earnings?

Accepted Answer

A) $404 
B) $1,760 
C) $1,670 
D) $440 
E) None of these 
A) $404 
B) $1,760 
C) $1,670 
D) $440 
E) None of these

Question 16

Match the following terms with their definitions.
-Semimonthly

Accepted Answer

A) May be used in calculating Social Security and Medicare 
B) Pay rate based on schedule of units completed 
C) Income tax 
D) Minimum wage standard 
E) Alternative method to percentage method
F)52 times a year
G)Aids in determining amount of FIT withheld
H)26 times a year
I)Method to calculate FIT
J)24 times a year
K)Different levels result in different commission scales
L)Wages subject to tax
M)Commission to manager
N)Broken down into Social Security and Medicare
O)Wages before deductions
P)Gross pay minus deductions
Q)Aids unemployment program
R)Wages based on percent of the value of goods sold
S)Affected by company's employment record 
A) May be used in calculating Social Security and Medicare 
B) Pay rate based on schedule of units completed 
C) Income tax 
D) Minimum wage standard 
E) Alternative method to percentage method
F)52 times a year
G)Aids in determining amount of FIT withheld
H)26 times a year
I)Method to calculate FIT
J)24 times a year
K)Different levels result in different commission scales
L)Wages subject to tax
M)Commission to manager
N)Broken down into Social Security and Medicare
O)Wages before deductions
P)Gross pay minus deductions
Q)Aids unemployment program
R)Wages based on percent of the value of goods sold
S)Affected by company's employment record

Question 17

Match the following terms with their definitions.
-Percentage method

Accepted Answer

A) May be used in calculating Social Security and Medicare 
B) Pay rate based on schedule of units completed 
C) Income tax 
D) Minimum wage standard 
E) Alternative method to percentage method
F)52 times a year
G)Aids in determining amount of FIT withheld
H)26 times a year
I)Method to calculate FIT
J)24 times a year
K)Different levels result in different commission scales
L)Wages subject to tax
M)Commission to manager
N)Broken down into Social Security and Medicare
O)Wages before deductions
P)Gross pay minus deductions
Q)Aids unemployment program
R)Wages based on percent of the value of goods sold
S)Affected by company's employment record 
A) May be used in calculating Social Security and Medicare 
B) Pay rate based on schedule of units completed 
C) Income tax 
D) Minimum wage standard 
E) Alternative method to percentage method
F)52 times a year
G)Aids in determining amount of FIT withheld
H)26 times a year
I)Method to calculate FIT
J)24 times a year
K)Different levels result in different commission scales
L)Wages subject to tax
M)Commission to manager
N)Broken down into Social Security and Medicare
O)Wages before deductions
P)Gross pay minus deductions
Q)Aids unemployment program
R)Wages based on percent of the value of goods sold
S)Affected by company's employment record

Question 18

Match the following terms with their definitions.
-Fair Labor Standards Act

Accepted Answer

A) May be used in calculating Social Security and Medicare 
B) Pay rate based on schedule of units completed 
C) Income tax 
D) Minimum wage standard 
E) Alternative method to percentage method
F)52 times a year
G)Aids in determining amount of FIT withheld
H)26 times a year
I)Method to calculate FIT
J)24 times a year
K)Different levels result in different commission scales
L)Wages subject to tax
M)Commission to manager
N)Broken down into Social Security and Medicare
O)Wages before deductions
P)Gross pay minus deductions
Q)Aids unemployment program
R)Wages based on percent of the value of goods sold
S)Affected by company's employment record 
A) May be used in calculating Social Security and Medicare 
B) Pay rate based on schedule of units completed 
C) Income tax 
D) Minimum wage standard 
E) Alternative method to percentage method
F)52 times a year
G)Aids in determining amount of FIT withheld
H)26 times a year
I)Method to calculate FIT
J)24 times a year
K)Different levels result in different commission scales
L)Wages subject to tax
M)Commission to manager
N)Broken down into Social Security and Medicare
O)Wages before deductions
P)Gross pay minus deductions
Q)Aids unemployment program
R)Wages based on percent of the value of goods sold
S)Affected by company's employment record

Question 19

Calculate the gross pay for Ryan O'Neal, an apple picker, assuming he picked 7,200 apples:
 $$\begin{array} { | l | l | } 
\hline \text { Number apples } & \text { Rate per apple } \
\hline 1 - 2,000 & .07 \
\hline 2,001 - 3,000 & .08 \
\hline \text { Over } 3,000 & .12 \
\hline
\end{array}$$

Accepted Answer

The answer of Calculate the gross pay for Ryan O'Neal,...

Question 20

Calculate the gross pay of Alice Flynn, an apple picker, assuming she picked 6,250 apples:
 $$\begin{array} { | l | l | } 
\hline \text { Apples Picked } & \text { Rate per apple } \
\hline 1 - 2,500 & \$ .04 \
\hline 2,501 - 3,500 & 06 \
\hline 3,501 - 4,000 & 08 \
\hline \text { Over } 4,000 & 10 \
\hline
\end{array}$$

Accepted Answer

The answer of Calculate the gross pay of Alice Flynn,...

Exam 9: Payroll

A married person will pay in more Social Security and Medicare tax than a single person.

Overtime is always calculated at time and a half the regular rate.

Jim Smith is a salesman who receives a $1,100 draw per week. He receives a 12% commission on all sales. Sales for Jim were $205,000 for the month. Assuming a four-week month, Jim's final commission after the draw for the month is:

The number of dependents one claims does not affect the amount of Social Security and Medicare tax paid.

Dan Zabrowski works according to the following schedule for a given week, and is paid overtime at 1.5 times. Find his total hours, and his gross pay for the week. Employee M T W TH F S Total Hrs Rate per Hr Gross Pay Dan Z. 10.5 10.5 0 10.5 0 10.5 A \ 15.80 B

Jill is $200 from reaching maximum base as related to cumulative earnings for Social Security. She is paid weekly: Marital Status Exemptions Claimed Gross FIT Soc. Sec. Medicare Net Pay Jill Rye 3 \ 950

Robin Small pays her three workers $180, $450, and $615, respectively, per week. Calculate what Robin will pay at the end of the first quarter for (A)state unemployment and (B)federal unemployment. Assume a state rate of 5.8%. Federal rate is .6%. Base is $7,000.

Match the following terms with their definitions. -SUTA

A variable commission scale means that for different levels of net sales there are different commission rates.

If you are paid twice a month, you are being paid:

Ron Swift earned $1,500 last week. He is married, is paid biweekly, and claims two exemptions. Using the percentage method (use tables in the handbook), his income tax is:

FICA stands for federal withholding tax.

Match the following terms with their definitions. -Taxable earnings

A self-employed person has at least three employees.

Jim Ross is an automobile salesman who receives a salary of $500 per week plus a commission of 3% on all sales. During a four-week period he sold $42,000 worth of cars. What were Jim's average weekly earnings?

Match the following terms with their definitions. -Semimonthly

Match the following terms with their definitions. -Percentage method

Match the following terms with their definitions. -Fair Labor Standards Act

Calculate the gross pay for Ryan O'Neal, an apple picker, assuming he picked 7,200 apples: Number apples Rate per apple 1-2,000 .07 2,001-3,000 .08 Over 3,000 .12

Calculate the gross pay of Alice Flynn, an apple picker, assuming she picked 6,250 apples: Apples Picked Rate per apple 1-2,500 \ .04 2,501-3,500 06 3,501-4,000 08 Over 4,000 10

Whole Numbers: How to Dissect and Solve Word Problems

Fractions

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Banking

Solving for the Unknown: a How-To Approach for Solving Equations

Percents and Their Applications

Discounts: Trade and Cash

Markups and Markdowns: Perishables and Breakeven Analysis

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Promissory Notes, Simple Discount Notes, and the Discount Process

Compound Interest and Present Value

Annuities and Sinking Funds

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The Cost of Home Ownership

How to Read, Analyze, and Interpret Financial Reports

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Inventory and Overhead

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