Topic Test Answers

Kai had a gross weekly paycheck of $616 last week. Kai worked 6 hours for 4 of the days and 8 hours on 1 day. What is Kai's hourly rate of pay?a.$16.21b.$19.25c.$20.53d.$25.67

Elisha is a photographer and charges a set fee to photograph weddings. This is an example of _____ income.a.capital gainsb.earnedc.hourlyd.passive

A statement of an employee's biweekly earnings is given below. Earnings Deductions Week Ended Regular FED. SOC. MED STATEWITH. WITH. CARE. WITH. NET PAY 8/18 $_____ $62.00 $45.06 $10.54 $12.40 $596.80 What is the employee's gross pay? a.$703.86 b.$714.40 c.$716.26 d.$726.80

Which of the following employees has the largest gross pay? a. Employee A: Total employee benefits $1,500 Total job benefits $49,800 b. Employee B: Total employee benefits $1,050 Total job benefits $51,200 c. Employee C: Total employee benefits $1,000 Total job benefits $51,900 d. Employee D: Total employee benefits $3,000 Total job benefits $52,300 Please select the b

Padraig receives total employment compensation of $70,000 and had $2,000 in job expenses. Which of the following could be true about Padraig’s gross pay and total employee benefits?a.His total employee benefits are 2.8% of his annual gross pay of $72,000.b.His total employee benefits are 2.9% of his annual gross pay of $68,000.c.His total employee benefits are 12.5% of his annual gross pay of $64,000.d.His total employee benefits are 13.3% of his annual gross pay of $60,000.

Use the following federal tax table for biweekly gross earnings of a single person to help answer the question below. Molly has biweekly gross earnings of $839.52. By claiming 1 more withholding allowance, Molly would have $16 more in her take home pay. How many withholding allowances does Molly currently claim? a. 1 b. 2 c. 3 d. 4 Please select the best answer from the choices provided

The table below shows the earnings, in thousands of dollars, for three different commissioned employees. Employee #1 $2,000 + 3% on all sales Employee #2 7% on all sales Employee #3 5% on the first $40,000 + 8% on anything over $40,000 December 4.4 5.6 5.2 January 3.5 3.85 3.6 February 4.7 4.9 4.4 Which employee did not have the same dollar amount in sales for the month of February as the other two employees? a. Employee #1. b. Employee #2 c. Employee #3 d. They each had the same dollar amount in sales. Please select the best answer from the choices provided

Bob gets paid an annual salary of $30,000 and earns 5% commission on all sales he makes. If Bob wants to make $6,000 this month, how much in sales does he need to have?a.$50,000b.$70,000c.$90,000d.$120,000

Gary earned a gross pay of $1,047.30 last week. Using the fact that Social Security tax is 6.2% of gross pay, determine the amount of Social Security tax deducted from Gary’s gross pay.a.$6.49b.$8.38c.$64.93d.$83.78

Jasmine has a gross pay of $754.80. By how much will Jasmine’s gross pay be reduced if she has the following items withheld?federal tax of $31Social Security tax that is 6.2% of her gross payMedicare tax that is 1.45% of her gross paystate tax that is 18% of her federal taxa.$94.32b.$192.83c.$224.60d.$323.11

Which of the following expressions represents the total earnings of a commissioned employee earning 9.5% commission with sales of $8,540?a.(0.0095)(8,540)b.(0.095)(8,540)c.(0.95)(8,540)d.(9.5)(8,540)

Pete earns graduated commission on his sales each month. He earns 7% commission on the first $35,000 in sales and 9% on anything over that. If Pete had $43,000 in sales this month, how much commission did he earn?a.$2,610b.$3,170c.$3,870d.$6,880

Luis has a biweekly gross pay of $770 and claims 2 federal withholding allowances. Luis has all of the following deductions from his gross pay: federal tax from the following table Social Security tax that is 6.2% of his gross pay Medicare tax that is 1.45% of his gross pay state tax that is 19% of his federal tax Determine how Luis’ net pay will be affected if he increases his federal withholding allowances from 2 to 3. a. His net pay will decrease by $19.00. b. His net pay will increase by $19.00. c. His net pay will decrease by $22.61. d. His net pay will increase by $22.61. Please select the best answer from the choices provided

A commission employee derives their income from the number of items or goods that they produce.

Shaquil receives total employee benefits that are 13.5% of his gross annual pay. If Shaquil has a gross annual pay of $40,000, how much in total employee benefits does he receive?a.$5.40b.$54.00c.$540.00d.$5,400.00