Lesson 9.1
9.1 Semimonthly Means how many payments an employee will receive in a year?
24
9.1
9.2 Karen Sullivan earns $8 per hour as a checker on the assembly line. If her overtime rate is time and a half, what is her total pay for working 40 hours?
regular pay=
40* 8=320
9.2
9.3 Melissa works on a hat assembly line. She gets paid at a straight piecework rate of $0.35 per hat. What was her total gross pay last week if she produced 1,655 hats?
1,655*0.35=579.5
9.3
Diamond industries pays it sales force a commission rate of 6% of all sales. What was the total gross pay for an employee who sold $113,500 (one hundred thirteen thousand five hundred) last month?
$113,500* 0.06= $6,810
9.4
9.5 Funds withheld from an employee's paycheck is known as what?
Deductions or withholdings
9.5
9.1 Weekly pay schedules are broken into _______ paychecks per year.
52
9.1
9.2 Matues Dais works part-time as he received $10.50 per hour. His job convinced him to work 40 hours last week. What was his total pay last week?
$10.50*40= $420.00
9.2
9.3 David works on a lunch box assembly line. He gets paid at a straight piecework rate of $0.55 per lunch box. What was her total gross pay last week if he produced 1,700 lunch boxes?
0.55*1700=935
9.3
9.4 Kay Jewelry pays it sales force a commission rate of 7% of all sales. What was the total gross pay for an employee who sold $333,500 (three hundred and thirty-three thousand five hundred) last month?
$333,500* 0.07= $23, 345
9.4
9.5 A federal tax used to provide health care benefits and hospital insurance to retired and disabled workers. Is know as what?
Medicare tax
9.5
9.1 To find the gross payment on a $74, 500 salary paid out to monthly is what? Round to the nearest cent.
74500/12=$6,208.33
9.1
9.2 . Aaliyah is a software engineer and earns a salary of $1,904.32 per week. Since she is hard worker, her boss decided to give her a 15% raise on her total salary. What is her annual salary with the pay increase.
1,904.32* 52= 99,024.64
15% pay raise= 99,024.64+(.15 *99, 024.64)= $113,878.34
9.2
9.3 Shamus works on an assembly line. He gets paid at a straight piecework rate of $2.50 per object he assemblies. What was his total gross pay last week if he produced 1,333 objects?
$2.50*1333= $3332.50
9.3
9.4 Staples pays it sales representative on the following incremental commission schedule. What was the solution for a sales rep who sold $162, 400 last month?
Level sales volume commission rate(%)
1 $1-$50,000 4
2 $ 50,001-$150,000 5
3 Over $150,000 6.5
Level 1= 50,000 , level 2= 100,000,
Level 3= 12, 400
$50,000*0.04+ $100,000*0.05+$12,400*0.065
$2000+$5000+$806= $7,806
9.4
9.5 What are the withholdings for social security and Medicare for an employee with a gross earnings of $700 per week?
700*0.062= $43.40 Soc. sec. tax
700*0.0145=$10.15 med. tax
9.5
9.1 Find the gross payment on $74,500 salary paid out in semi-monthly installments
74500/24= 3104.17
9.1
9.2 Sam works and receives $10.50 per hour and time and a half for overtime and double time on Sunday. What was his total pay last week if he worked 45 on Monday through Saturday in addition to a four hour shift on Sunday?
45-40=5 hours
regular pay 40 hrs =40* 10.50= 420
(5 hours of over time)(time and half)=
5*10.50*1.5= 78.75
(4 hrs of double-time)= 4(10.50)(2)=84
$78.75+ $420+ $84.00= $582.75
9.2
9.3 Oliva assembled 190 watches last week. Calculate her total gross pay based on the following differential piecework schedule.
Pay level watches assembled Rate per unit
1 1-100 $2.45
2 101-150 $2.75
3. Over 150 $3.10
Level 1= 100 watches
Level 2 = 50 watches
Level 3= 190-150=40 watches.
100*$2.45+50* $275+40*$310
$245+ $137.50 + $124= $506.50
9.3
9.4 Mercedes works on a pay schedule of $1,500 per month salary plus a 3% commission on all sales greater than $40,000. If she sold $60, 000 last month what was her total gross pay?
Commission= Commission rate( sales subject to commission)
0.03(60,000-40,000)=$600
Total gross pay =$1,500+$600= $2,100
9.4
9.5 What are the withholdings for Medicare for an employee with gross earnings of $650.
Medicare tax= 650(0.0145)= $9.43
9.5
9.1 Joanna receives a fixed salary of $86,700 gross pay per year. What is her gross pay per check if her salary is paid:
Monthly
Biweekly
Semimonthly
Weekly
monthly= 86,700/12= $7,225.00
biweekly= 86,700/26= $3,334.62
semimonthly= 86,700 /24= $3612.50
Weekly= 86,700/52= $1,667.31
9.1
9.2 If Daniel earns $8 per hour. What is his total pay if he worked 46 hours last week? Note that his over time rate is time and a half.
Regular for 40 hrs:
40*8=320
plus overtime 6 hours:
6*8*1.5=72
$320+$72=$392
9.2
9.3 You are the payroll manager for Trendy toys, Inc, A manufacture of small plastic toys. Your workers are paid according to the following differential piecework schedule. Calculate last weeks gross pay for an employee that produced 515 toys.
Pay level Toys produced Rate per toy
1 1-300 $0.68
2 301-500 $ 0.79
3 501-750 $0.86
4 Over 750 $0.94
Level 1= 300, Level 2= 200 Level 3 = 15
300*$0.68+ 200* $ 0.79 + 15* $0.86
$204.00+ $158.00 + $12.90= $374.90
9.3
9.4 Shanley is salesperson for Power Electronics. The company pays 8% commission on all sales and gives Shanley a $1,500 per month draw against commission. If he receives his draw at the beginning of the month and then sells $58,000 during the month, how much commission is owed to Shanley?
Commission= total sales( commission rate)
Commission = 58,000 (0.08) = $4,640
Commission Owed= Commission- Amount of draw
Commission Owed= $4,640- $1,500 = $3,140
9.4
9.5 Abigail has earned $104, 900 (one hundred four thousand nine hundred) so far this year. Her next pay check, $5,000 will put her earnings over the wage base limit for social security. The wage base is $106, 800(one hundred six thousand eight hundred). What is the amount of social security?
Earnings subject to tax= wage base- Year to date earnings
Earnings subject to tax= 106,800-104,900= $1,900
Soc. Sec. Tax: earning subject to tax (6.2%)
Soc Sec tax: $1,900 (0.062)= $117. 80
9.5