Exam 4: Employee Net Pay and Pay Methods

Manju is a full-time exempt employee living in Illinois who earns $43,680 annually and is paid biweekly.She is married with three withholding allowances.What is the total of her Federal and state income tax deductions for the most recent pay period? (Use the wage bracket tables.Illinois state income tax rate is 3.75%.Round final answer to two decimal points.)

(Multiple Choice)

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Question 61

According to the Consumer Credit Protection Act,what is the maximum percentage of an employee's disposable earnings that may be withheld as part of a consumer credit garnishment?

(Multiple Choice)

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Question 62

Julian is a part-time employee who earns $21.50 per hour.During the last biweekly pay period he worked 45 hours.He is single with one withholding allowance (use the wage-bracket table).What is his net pay? (Do not round interim calculations,only round final answer to two decimal points.)

(Multiple Choice)

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Question 63

Which is not a best practice for paying employees by check?

(Multiple Choice)

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Question 64

The wage-bracket of determining Federal tax withholding yields more accurate amounts than the percentage method.

(True/False)

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Question 65

Olga earned $1,558.00 during the most recent weekly pay period.She is single with 2 withholding allowances.Using the percentage method,compute Olga's Federal income tax for the period.(Do not round intermediate calculations.Round final answer to two decimal places.) 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 $Olga earned $1,558.00 during the most recent weekly pay period.She is single with 2 withholding allowances.Using the percentage method,compute Olga's Federal income tax for the period.(Do not round intermediate calculations.Round final answer to two decimal places.) \begin{array}{c} \begin{array}{|l|} \hline\text {Payroll Period}\\ \\ \hline\text {Weekly}\\ \text {Biweekly}\\ \text {Semimonthly}\\ \text {Monthly}\\ \text {Quarterly}\\ \text {Semiannually}\\ \text {Annually}\\ \text {Daily or miscellaneous (each day of the payroll }\\ \text {period)}\\ \hline \end{array} \begin{array}{r|} \hline\text {One Withholding}\\ \text {Allowance}\\ \hline\$ 76.90 \\ 153.80 \\ 166.70 \\ 333.30 \\ 1,000.00 \\ 2,000.00 \\ 4,000.00 \\ \\ 15.40 \\ \hline \end{array} \end{array}$

(Multiple Choice)

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Question 66

State and Local Income Tax rates __________________________.

(Multiple Choice)

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Question 67

Tierney is a full-time nonexempt salaried employee who earns $990 per biweekly pay period.She is single with 1 withholding allowance and both lives and works in Maryland.Assuming that she had no overtime,what is the total of her Federal and state taxes for a pay period? (Use the wage-bracket tables.Maryland state income rate is 4.75%.Round final answers to 2 decimal places.)

(Multiple Choice)

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Question 68

Natalia is a full-time exempt employee who earns $215,000 annually,paid monthly.Her year-to-date pay as of November 30 is $197,083.30.How much will be withheld from Natalia for FICA taxes for the December 31 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 69

Post-Tax Deductions are amounts ____________________________________.

(Multiple Choice)

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Question 70

Showing 61 - 70 of 70

According to the Consumer Credit Protection Act,what is the maximum percentage of an employee's disposable earnings that may be withheld as part of a consumer credit garnishment?

Julian is a part-time employee who earns $21.50 per hour.During the last biweekly pay period he worked 45 hours.He is single with one withholding allowance (use the wage-bracket table).What is his net pay? (Do not round interim calculations,only round final answer to two decimal points.)

Which is not a best practice for paying employees by check?

The wage-bracket of determining Federal tax withholding yields more accurate amounts than the percentage method.

State and Local Income Tax rates __________________________.

Post-Tax Deductions are amounts ____________________________________.

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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