Betty's practice exam Calculation problems Flashcards
(44 cards)
Under a piece rate system; a company’s production workers receive $0.32 for each unit produced during regular hours and 1 1/2 times for any units produced during overtime hours. During the workweek an employee produced 1400 units in the 1st 40 hours and 320 in the next 5 hours. Calculate the employee’s total earnings for the workweek.
$601.60, piece rate system is by piece rate. by # ot hrs unless specified like 1.5 times piece for OT. .321400 + .48320 = $601.60
An employee earns $9 per hour and an additional 10 cents per hour for hours worked after 7:00 p.m. If an employee works from 2:00 p.m. to 11:00 p.m., with an unpaid meal break from 6:00 p.m. to 7:00 p.m., Monday through Friday, what is the employee’s weekly gross pay under the Fair Labor Standards Act?
$362
An employee’s base rate of pay is $9.00 and also receives a $1.50 per hour shift differential for working after 7 pm. During one workweek he worked 45 hours and 12 1/2 hours are with shift pay. Calculate his total earnings.
$447.30; 9 * $45 + 1.5 * 12.5 = 423.75 / 45 = $9.42 * .50 = $4.71 * 5, ADD OT FOR 5 HRS OF $23.55 T0 423.75
Under the FLSA, what is the compensation due an employee whose rate of pay is $8 per hour and who is paid for 52 hours during one workweek, including 8 hours of sick pay?
$432
Calculate the employee’s gross pay under the FLSA based on the following data:
Rate of pay per hours: $8.00
Production bonus: $25.00
Shift differential per hour: $.25
Total shift hours in workweek: 44
$405.64
A nonexempt employee agrees to a fluctuating workweek for hours between 35 and 50 with a fixed salary of $500.00 per week. Michael worked 48 hours one week. Calculate his earnings for that week.
$541.68; Divide sal by # of hours worked for OT, even if over 40, its flux so whatever amt agreed that they work
A nonexempt salaried employee works 35 hours a week and is paid $20,020.00 annually. During the current pay period they worked 39 hours in the 1st week and 40 hours in the 2nd week. Calculate their biweekly earnings.
$770.00; it’s not flux. get’s pd annual / 52 unless OT. Same for up to 40 hr week
An employee’s company provides their employees with group life insurance at two times annual salary. An employee has an annual salary of $30,000 and was born on 10/14/85. Calculate the taxable GTL income for 2024.
$.90
In 2024, an individual worked for three employers during the calendar year, earning $38,000, $47,000, and $50,000 respectively. What is the total amount of social security and Medicare taxes that should be withheld from the employee’s wages by the three employers?
$10,327.50 Calculate as normal, ER’s don’t know
For an employee earning $10.20 per hour and participating in a 401(k) plan with a deferral per pay period of $50, compute the federal income taxable wages based on the following:
Biweekly pay period
Regular 80 hours
4 hours overtime
3 hours double-time
$888.40
A manager has requested a net check of $5,000 for one of their staff. The employee’s YTD FICA taxable wages are $165,000. Using the following tax percentages, calculate the gross wages. FIT 22%, SIT 6.25% and FICA.
$7,429.87 (Calc ss wages possible, this case $3,6000) add this amount to $5k to gross up with FIT, SIT, and med remaining for fica
A company has a gross payroll of $120,589.36 that is taxable for federal income, social security, and Medicare taxes. Federal income tax withheld is $24,117.87; combined social security and Medicare taxes withheld are $9,225.09. What is the company’s total payroll tax liability for this pay period?
$42,568.05 (Don’t forget asking for ER total tax liab, ER pays the 6.2 & 1.45% also) not the .9 med surcharge but anyway add the $9225.09 again for the ER match.
Using federal child support guidelines, calculate the maximum amount of support that can be withheld from an employee’s semimonthly disposable earnings of $1,500.00. The employee is four months in arrears in making child support payments and has no other dependents.
$975.00 ( in arrears extra 5% on top of 60% for no dep so $1500*.65) if had no other dependents then in arreas be 55% (they cut a break)
XYZ company wants to give Terry a net check of $10,000 as a bonus. Using the following tax percentages, calculate the gross wages. FIT 22%,FICA 7.65%, SIT 9%.
$16,299.92
An employee is terminated with 3 workdays remaining in a month. The employee earned an annual salary of $24,000 and was paid semimonthly. What is the regular compensation due this employee for the final pay period?
$723.07
An employee drives an employer provided car, its FMV is $24,000. In2024 the employee drove 19,000; 5600personal and 13,400 business miles. Using ALV table calculate the employee’s personal use.
$1,945.02 (PERS USE / TOTAL USE * ALV)
An employee is paid $10 per hour plus a 10% differential for evening shifts. During the past week, the employee worked 24 hours on the day shift and 24 hours on the evening shift. Under the FLSA, what are the employee’s gross wages for the week?
$546.00
Using Publication 15- T, Worksheet 1A, calculate the employee’s withheld federal income tax based on the following data and information reported in the employee’s 2024 Form W- 4:
Weekly pay frequency
Vacation earnings: $360.62
Regular compensation: $339.38
401(k) pre- tax deferral: $49.00
Married filing jointly
$125 entered in Step 4(c) on the Form W- 4
$133.95
A nonexempt employee earns $400 per week for a normal schedule of 35 hours. Under the FLSA, how much would this employee be due if 48 hours were worked?
$594.36 (divide sal by normal work schedule intended) $400/35 = 11.43 * 13 hrs remaing, plus, $11.43 * .50 for ot premium for * 8 hrs added. $400 + 148.57+45.76
n employee is to be awarded a net bonus of $2,000 as supplemental wages. Year- to- date regular and supplemental earnings are $15,000. Using the current optional flat tax rate and social security and Medicare tax rates, what should be the gross amount of the payment if the employee lives and works in a state with no income tax?
$2,842.93 note: optional flat rate 22%
A semiweekly depositor withheld FIT of $26,325.00, FICA of $9,289.35, SIT 11,773.10 and had FUTA wages of $164,413.30 for the current payroll. No employees have maxed out for FUTA taxable wages. What is the required federal deposit amount?
$44,903.70 (FUTA gets reported sep on 940 .6%) SIT also gets pd separately. add FICA again for ER. So $26,325+9289.35+9289.35 = $44903.70
An employee claims married and two withholding allowances on her 2019 Form W- 4, is paid $1,700 biweekly, and defers $50 per pay period to a 401(k) plan. Using Publication 15- T, Worksheet 1A, what is the total of the biweekly deductions from the employee’s pay for federal income, social security, and Medicare taxes?
$199.28
An employee was paid $1,500.00 for the current pay period. Their YTD wages are $54,343.10 and their current deductions are the following: union dues 15.00, 401k 12%,saving account 150.00 and pretax medical (125 plan) 80.00. Calculate FIT using 22% and FICA taxes using current rates.
FIT = 272.80 FICA = 108.63 (FIT Calc 1500 less 401k and 125 plan - 80) ( FICA less 125 plan 1500- 80 * .0765 cafe 125 pretax gets taxed on nothing)
An employee is paid a bonus of $1,500 with a regular biweekly wage payment of $2,000 in 2024 that is indicated separately on the employee’s pay stub. The employee has received no supplemental wages so far this year. The employee has an elective deferral of 5% of regular wages made to the 401(k) plan each pay period. For federal income tax withholding purposes, the company uses the optional flat rate for all bonuses and uses Publication 15- T, Worksheet 1A for regular wage payments. The employee’s 2019 W- 4 claims married with 2 allowances. The employee has no state or local income taxes or any other deductions. What is the employee’s net pay?
$2,707.02
