Exam 4: Employee Net Pay and Pay Methods

Paolo is a part-time security guard for a local facility.He earned $298.50 during the most recent weekly pay period.He is married with four withholding allowances.What is his Medicare tax liability for the pay period?

(Multiple Choice)

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Question 21

Amity is an employee with a period gross pay of $2,000.She elects to have 3% of her gross pay withheld for her 401(k) contribution.What will be her taxable income be for Federal income taxes?

(Multiple Choice)

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Question 22

What is a disadvantage to using paycards as a method of transmitting employee compensation?

(Multiple Choice)

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Question 23

Ramani earned $1,698.50 during the most recent biweekly pay period.He contributes $100 to his 401(k) plan.He is married and claims 3 withholding allowances.Based on the following table,how much Federal income tax should be withheld from his pay?

(Multiple Choice)

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Question 24

Which Act extended health care benefits to employee dependents until age 27?

(Multiple Choice)

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Question 25

Caroljane earned $1,120 during the most recent pay biweekly pay period.She contributes 4% of her gross pay to her 401(k) plan.She is single and has 1 withholding allowance.Based on the following table,how much Federal income tax should be withheld from her pay?

(Multiple Choice)

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Question 26

Garnishments are court-ordered amounts that an employer must withhold from an employee's pre-tax pay and remit to the appropriate authority.

(True/False)

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Question 27

The factors that determine an employee's Federal income tax are ____________________.

(Multiple Choice)

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Question 28

Ross is a full-time employee who earns $42,000 annually,paid semimonthly.His Federal income tax is $155.00.What is the maximum amount that may be withheld from his pay for a child-support garnishment,assuming he is not in arrears? (Do not round interim calculations,only round final answer to two decimal points.)

(Multiple Choice)

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Question 29

Trish earned $1,734.90 during the most recent semimonthly pay period.She is married and has 3 withholding allowances.Based on the following table,how much should be withheld from her gross pay for Federal income tax?

(Multiple Choice)

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Question 30

Jeannie is an adjunct faculty at a local college,where she earned $680.00 during the most recent semimonthly pay period.She is single and has one withholding allowance.What is her Social Security tax for the pay period?

(Multiple Choice)

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Question 31

Maile is a full-time exempt employee who earns $1,370.15 per biweekly payday.She is married with seven withholding allowances,so her Federal income tax is $0.She contributes 4% of her gross pay to her 401(k) and has her health insurance premium of $50 deducted on a pre-tax basis.She has $10 deducted per pay period for a Salvation Army contribution and has union dues of $40 per pay period.What is her net pay? (Do not round interim calculations,only round final answer to two decimal points.)

(Multiple Choice)

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Question 32

Wyatt is a full-time exempt music engineer who earns $130,000 annually and is paid semimonthly.As of November 15,his year-to-date gross pay was $113,750.07.How much will be withheld for FICA taxes for the November 30 pay date? (Social Security maximum wage is $118,500.Do not round interim calculations,only round final answer to two decimal points.)

(Multiple Choice)

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Question 33

Janna is a salaried nonexempt employee who earns $30,000 for a standard 40-hour workweek and is paid biweekly.She is single with one withholding allowance.During the last pay period,she worked 5 hours of overtime.She contributes 3% of her gross pay to her 401(k) on a pre-tax basis and has a garnishment of 10% of her disposable income for a consumer credit garnishment.What is her net pay? (Use the wage-bracket method.Do not round interim calculations,only round final answer to two decimal points.)

(Multiple Choice)

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Question 34

Which of the following may be included as part of an employee's Section 125 "cafeteria" plan?

(Multiple Choice)

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Question 35

The percentage of the Medicare tax withholding _________________________.

(Multiple Choice)

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Question 36

Danny is a full-time exempt employee in Alabama,where the state income tax rate is 5%.He earns $78,650 annually and is paid semimonthly.He is married with four withholding allowances.His is health insurance is $100.00 per pay period and is deducted on a pre-tax basis.Danny contributes 5% of his pay to his 401(k).Assuming that he has no other deductions,what is Danny's net pay for the period? (Use the percentage method for the Federal income tax and the wage-bracket table for the state income tax.Do not round interim calculations,only round final answer to two decimal points.) Payroll Period Weekly Biweekly Semimonthly Monthly Quarterly Semiannually Annually Daily or miscellaneous (each day of the payroll period) One Withholding Allowance \ 76.90 153.80 166.70 333.30 1,000.00 2,000.00 4,000.00 15.40 $Danny is a full-time exempt employee in Alabama,where the state income tax rate is 5%.He earns $78,650 annually and is paid semimonthly.He is married with four withholding allowances.His is health insurance is $100.00 per pay period and is deducted on a pre-tax basis.Danny contributes 5% of his pay to his 401(k).Assuming that he has no other deductions,what is Danny's net pay for the period? (Use the percentage method for the Federal income tax and the wage-bracket table for the state income tax.Do not round interim calculations,only round final answer to two decimal points.) \begin{array}{c} \begin{array}{|l|} \hline\text {Payroll Period}\\ \\ \hline\text {Weekly}\\ \text {Biweekly}\\ \text {Semimonthly}\\ \text {Monthly}\\ \text {Quarterly}\\ \text {Semiannually}\\ \text {Annually}\\ \text {Daily or miscellaneous (each day of the payroll }\\ \text {period)}\\ \hline \end{array} \begin{array}{r|} \hline\text {One Withholding}\\ \text {Allowance}\\ \hline\$ 76.90 \\ 153.80 \\ 166.70 \\ 333.30 \\ 1,000.00 \\ 2,000.00 \\ 4,000.00 \\ \\ 15.40 \\ \hline \end{array} \end{array}$

(Multiple Choice)

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Question 37

Federal income tax,Medicare tax,and Social Security tax amounts withheld from employee pay are matched by amounts paid by the employer.

(True/False)

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Question 38

Charitable contributions are an example of post-tax voluntary deductions.

(True/False)

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Question 39

From the employer's perspective,which of the following is not an advantage of having direct deposit?

(Multiple Choice)

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Question 40

Showing 21 - 40 of 70

Paolo is a part-time security guard for a local facility.He earned $298.50 during the most recent weekly pay period.He is married with four withholding allowances.What is his Medicare tax liability for the pay period?

Amity is an employee with a period gross pay of $2,000.She elects to have 3% of her gross pay withheld for her 401(k) contribution.What will be her taxable income be for Federal income taxes?

What is a disadvantage to using paycards as a method of transmitting employee compensation?

Ramani earned $1,698.50 during the most recent biweekly pay period.He contributes $100 to his 401(k) plan.He is married and claims 3 withholding allowances.Based on the following table,how much Federal income tax should be withheld from his pay?

Which Act extended health care benefits to employee dependents until age 27?

Caroljane earned $1,120 during the most recent pay biweekly pay period.She contributes 4% of her gross pay to her 401(k) plan.She is single and has 1 withholding allowance.Based on the following table,how much Federal income tax should be withheld from her pay?

Garnishments are court-ordered amounts that an employer must withhold from an employee's pre-tax pay and remit to the appropriate authority.

The factors that determine an employee's Federal income tax are ____________________.

Trish earned $1,734.90 during the most recent semimonthly pay period.She is married and has 3 withholding allowances.Based on the following table,how much should be withheld from her gross pay for Federal income tax?

Jeannie is an adjunct faculty at a local college,where she earned $680.00 during the most recent semimonthly pay period.She is single and has one withholding allowance.What is her Social Security tax for the pay period?

Which of the following may be included as part of an employee's Section 125 "cafeteria" plan?

The percentage of the Medicare tax withholding _________________________.

Federal income tax,Medicare tax,and Social Security tax amounts withheld from employee pay are matched by amounts paid by the employer.

Charitable contributions are an example of post-tax voluntary deductions.

From the employer's perspective,which of the following is not an advantage of having direct deposit?

Payroll Practices and System Functions

Payroll System Procedures

Gross Pay Computation

Employer Payroll Taxes and Labor Planning

Payroll Register, Employee Earning Records, and Accounting System Entries

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