Ch. 9 Quiz

Instructions
Ch. 9 Quiz

This assessment is worth 100 points.

  1. An override can never help increase the manager's total pay.
       (5 points)

      
      

  2. Net pay - deductions = gross pay.
       (5 points)

      
      

  3. Circular E from Internal Revenue Service contains many tax tables.
       (5 points)

      
      

  4. The W-4 is strictly used to calculate Social Security and Medicare taxes.
       (5 points)

      
      

  5. FUTA Tax is computed by the wage-bracket table.
       (5 points)

      
      

  6. Gross pay equals:
       (5 points)

    a.  
    b.  
    c.  
    d.  
    e.  

  7. If you are paid every two weeks you are being paid:
       (5 points)

    a.  
    b.  
    c.  
    d.  
    e.  

  8. A variable commission scale means:
       (5 points)

    a.  
    b.  
    c.  
    d.  
    e.  

  9. Jill Hartman earns $750 per week plus 3 percent of sales in excess of $6,500. If Jill sells $25,000 in 1st week, her earnings are:
       (5 points)

    a.  
    b.  
    c.  
    d.  
    e.  

  10. Jim Smith is a salesman who receives a $1,100 draw per week. He receives a 12 percent commission on all sales. Sales for Jim were $205,000 for the month. Assuming a 4-week month, Jim's commission after the draw is:
       (5 points)

    a.  
    b.  
    c.  
    d.  
    e.  

  11. Complete the following weekly payroll
    Assume: (1) FIT calculated by percentage method
    (2) Social Security 6.2% on $68,400 Medicare 1.45%. Balance before this payroll is $400 below maximum as relates to cumulative earnings in calculating Social Security


    Marital

    Excemptions

    Gross

    FIT

    Soc. Sec

    Medicare

    Net Pay


    Status

    Claimed

    Joe Riense

    M

    3

    1,385

    A

    B

    C

    D

    A. _______________

    B. _______________

    C. _______________

    D. _______________


       (10 points)

    (* 4000 character limit)

  12. Bill Burton earns $750 per week plus 5% of sales in excess of $7,500. If Bill sells $34,000, how much were his earnings?
       (10 points)

    (* 4000 character limit)

  13. Alvin Shore sells jewelry at Ross Jewelers. Ross pays Alvin $8.50 per hour plus a 6% commission on all sales. Assume Alvin works 36 hours and had sales of $4,900. What is Alvin's gross pay?
       (10 points)

    (* 4000 character limit)

  14. Robin Small pays her 3 workers $180, $450, and $615 respectively per week. Calculate what Robin will pay at the end of quarter number one for (A) state unemployment and (B) federal unemployment. Assume a state rate of 5.5%. Federal is .8%. Base is $7,000.
       (10 points)

    (* 4000 character limit)

  15. Rolf Company pays its employees on a graduated commission scale. One percent on the 1st $25,000 sales; 3 percent on sales from $25,000 to $95,000; and 5 percent on sales greater than $95,000. If John Jones, and employee of Rolf, had sales of $100,000 what commission did John earn?
       (10 points)

    (* 4000 character limit)



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