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Exam 9: Payroll

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Question 31

Multiple Choice

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To date, Jay Ward has cumulative earnings of $107,600. This week he is paid $3,000. The total amount of Social Security tax for this week is (assume a rate of 6.2% on $110,100 for Social Security and 1.45% for Medicare) :

A) $186.00
B) $155.00
C) $57.66
D) $180.00
E) None of these

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Question 32

Multiple Choice

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Differential pay schedule is based on:

A) FICA
B) Different levels of performance
C) FUTA
D) Gross pay
E) None of these

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Question 33

True/False

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A quarter is 13 weeks.

Sandi works for Elizabeth Arden Cosmetics and earns $500 per week salary plus 4% commission on sales over $2,000. If Sandi sold $2,733 last week, what was her salary?

Being paid biweekly is the same as being paid semimonthly.

Lana Powell has cumulative earnings of $110,000 at the end of September. In the first week in October she earns $2,000. The amount deducted for Social Security and Medicare from her check is (assume Social Security rate of 6.2% on $110,100 and Medicare of 1.45%) :

The FICA tax now requires separate reporting for Social Security and Medicare.

The Fair Labor Standards Act entitles employees to time and a half over 36 1/2 hours.

The W-4 is used strictly to calculate Social Security and Medicare taxes.

Janice Tax, an accountant for Flee Corp., earned $102,700 from January to June. In July she earned $8,000. Assuming a FICA tax rate of 6.2% for Social Security on $110,100 and 1.45% for Medicare, (A) how much of this month's earnings are taxed for Social Security and Medicare? and (B) what is the amount of FICA tax for Social Security and Medicare?

Payroll registers cannot record cumulative earnings.

Jill Hartman earns $750 per week plus 3% of sales in excess of $6,500. If Jill sells $25,000 in the first week, her earnings are:

The taxable earnings column of a payroll register records:

Differential pay means that there is one fixed rate per unit that is produced.

SUTA tax has no maximum amount that can be paid in a calendar year.

A variable commission scale means that for different levels of net sales there are different commission rates.

Net pay - deductions = gross pay.

Mindy makes boots for Belleville Boot Factory. She is paid on the following differential pay scale: What is Mindy's pay if she produced 192 boots for the week?

The percentage method aids in calculating:

Gross pay = hours worked × rate per hour.