Exam 5: Payroll

The FICA or Federal Insurance Contributions Act provides retirement and __________ benefits to workers.

Mr. Ortiz is paid a salary of $575 each week and 5% commission on sales over $10,000 less any returned merchandise. His sales information is located in a spreadsheet where salary is in Cell B2, commission rate expressed as a decimal is in Cell C2, returns are in Cell D2, and total weekly sales are in Cell E2. What formula should be in Cell F2 to calculate Mr. Ortiz's net weekly pay?

Jackson is married with four allowances. His gross earnings are $922 a week. Use the table to find the amount of weekly federal income tax withheld.

Josiah lives in a state with a state income tax. Last week, he earned $113.68. If Josiah had $4.38 taken out of his check in state tax, what is the state income tax rate to the nearest hundredth percent?

Bhairav Nagesh is a computer programmer. Bhairav is paid an annual salary of $83,600 a year. What is his weekly salary?

Kazuki Sato makes $46,835 annually as a maitre dé. What are his biweekly earnings?

LeMonte earns $239.60 each week. He lives in a state with a state income tax. If LeMonte had $9.59 taken out of his check for state tax last week, what is the state income tax rate to the nearest hundredth percent?

Latina had gross earnings of $562.90 last week. Compute the amounts she paid in Social Security using 6.2% and Medicare using 1.45%.

Monica earns $1,250 each week. She lives in a state with a state income tax. If Monica had $35.63 taken out of her check in state tax last week, what is the state income tax rate to the nearest hundredth percent?

Loretta is single with two allowances. Her gross earnings are $263.00 a week. Use the table to find the amount of weekly federal income tax withheld.

Maya Costello is married with two allowances. She has gross weekly earnings of $378.90. For each withholding allowance she can deduct $70.19 from her gross earnings. Use the percentage method table to find the amount of weekly federal income tax withheld.

Michael Lewis earns $71,500 a year, so his semimonthly paychecks are $2,750.

Kenya earns a biweekly salary of $575 plus 13.5% commission on net sales over $1,500. Her total sales in the past week were $1,968.00 with $105.00 in returned sales. Her total sales the week before were $2,245.91 with $256.90 in returned sales. What is Kenya's gross earnings for the two-week period?

Harlan does payroll for a local deli. During tax season, he worked 11 hours of overtime. If Harland earns $12.90 an hour and is paid time and one-half for overtime, how much did he earn for those hours?

Kermit Jacobs is married with 5 allowances. His weekly gross earnings are $1,050.00. He has $56.92 withheld for medical insurance, which are pre-tax dollars. Kermit also contributes $125 in pre-tax dollars each paycheck to a 401k. According to the tax table, he should pay $43 in federal taxes. If Kermit also has 6.2% in Social Security and 1.45% in Medicare taxes withheld, what is his net pay?

Michael Anaston was recently hired as a landscaper. He will earn $22,650 annually. What is his monthly salary?

Mr. Griffin worked 40 hours straight time and 13 hours overtime at an hourly rate of $16.76. What are his gross earnings if he earns time and one-half for overtime?

In the last two weeks, McKenzie earned $1,311. Included in her pay is 8 hours of overtime at time and one-half. How much does McKenzie earn per hour?

The ROUND function in Excel can be used to round a single number in a cell location or the result of a calculation.

Mrs. Yung is completing a payroll register. One employee, Alice Kenta, is single with 2 allowances. Alice's hourly rate is $12.50 and she earns time and one-half for overtime. This week, Alice worked 40 hours of straight time and 4 overtime hours. Alice has $37.87 in pre-tax dollars withheld for medical insurance. According to the tax table, she should pay $38 in federal taxes. After 6.2% in Social Security and 1.45% in Medicare are withheld, what is Alice's net pay?