Exam 7: Calculating Pay and Payroll Taxes: The Beginning of the Payroll Process

Clare's earnings during the month of February were $6,200.Her earnings for the year prior to February were $5,600.Clare's employer is subject to federal unemployment taxes of 0.8% and state unemployment taxes of 5.4% on the first $7,000.The employer's unemployment payroll tax expense for Clare in the month of February is:

Which of the following would not typically be an employee payroll withholding?

All states use the same percent for the state tax rate.

Derek works 43 hours at a rate of pay of $15 per hour.He receives double pay over 40 hours.What is his gross pay?

The premium rate for workers' compensation is based on the type of work performed.

The payroll register includes sections for recording:

Which of the following taxes has a maximum amount an employee must pay in a year?

If the employee has $500 withheld from their check for federal income tax,what is the amount that the employer would need to pay for their portion of the federal income tax?

Carrie Stein's hourly wage is $40.00,and she worked 42 hours during the week.Assuming an overtime rate of time and a half over 40 hours,Carrie's gross pay is:

Given the following payroll items you are to identify whether they are the expense of the employer and/or the employee by placing an X in the appropriate column. - Employer Employee Union Dues

Given the following payroll items you are to identify whether they are the expense of the employer and/or the employee by placing an X in the appropriate column. - Employer Employee SUTA

Brian Temple's cumulative earnings are $102,000,and his gross pay for the week is $5,300.If the FICA rates are: OASDI 6.2% on a limit of $106,800 and Medicare is 1.45%,what are his FICA-OASDI and FICA-Medicare taxes for the week?

An employee earns $32 per hour. She worked 50 hours the third week of January (assume time and a half for overtime) Calculate the net pay. The business is involved in interstate commerce. Federal Income Tax rate = 20% State Income Tax rate = 5% FICA rate OASDI = 6.2% and Medicare = 1.45% FUTA rate = .8% SUTA rate = 5.6% $ ________

The payroll taxes the employer is responsible for are:

Net pay equals:

A company can deem an employee as salaried:

A work week is 150 hours in length.

Both employees and employers pay which of the following taxes?

Ocean's Auction House's payroll for April includes the following data: Gross earnings \ 3,000 Salaries subject to FICA: 6.2\% OASDI 2,550 1.45\% Medicare 3,000 Salaries subject to unemployment: 0.8\% FUTA 2,000 2.0\% SUTA 2,000 Other deductions include: 500 Federal income tax 300 State income tax \ 20 What is the employee's portion of the tax?

When calculating the employee's payroll the clerk forgot about the wage base limits.What impact could this error cause on the employee's check?