An employee's gross pay minus deductions is equal to his/her......
What is net pay?
100
If an employee is paid weekly, how many paychecks will the employee receive during the year?
What is 52?
100
Stated amount of earnings; does not change from pay period to pay period
What is salary?
100
S:3 Gross Wages $493.00
What is the amount of Federal Withholding Tax deducted from gross wages?
What is $27?
100
Take home pay
What is net pay?
200
An employee makes $25.50 per hour. What is her overtime rate?
What is $38.25?
200
If an employee receives 24 paychecks in one year, they get paid how often?
What is semi-monthly? Twice in a month.
200
business's record of amount earned by all employees
What is payroll?
200
Gross wages: $421
What is the amount of Social Security deducted? SS tax 6.2%
What is $26.01?
200
The amount of regular and overtime earnings (before deductions)
What is total earnings or gross pay?
300
Each salesman at Howard's Cabinet Shop makes $500 per week plus 15% sales commission. How much is Jo's gross pay if he had sales of $4,000 this week?
What is $1,100?
300
Two most common ways for employees to be paid
What are salary and hourly?
300
amount paid to employees when hours worked per week exceed the standard work week
What is overtime?
300
Wyatt's net pay is $3928.50. Her taxes and deductions are $2105.50. What is her gross pay?
What is $6,034?
300
Amount paid to employee for one hour worked before overtime
What is regular rate?
400
Sally's gross pay is $700. If her Medicare tax is 1.45%, how much Medicare tax should be deducted from her pay?
What is $10.15?
400
Samantha makes $62,948 annually. What is her monthly salary?
What is $5,245.67?
400
the number of legal dependents (including the employee himself/herself) that can be claimed as deductions from total earnings
What are withholding allowances?
400
M:1 Gross Wages: $278.00 Social Security Tax: 6.2% Medicare 1.45%
What is the total amount of deductions?
What is $26.28?
400
Period in which amount of time worked is calculated
What is a pay period?
500
Mark's gross income was $950 last week. If Social Security tax rate is 6.2% and Medicare tax rate is 1.45%, how much SS tax and Medicare tax will be deducted from Mark's gross income?
What is 58.90 + 13.78 = 72.68?
500
Mark gets 26 paychecks a year.
What is bi-weekly?
500
provides for a federal system of old-age, survivors', disability, and hospital insurance; included Social Security and Medicare
What is FICA (Federal Insurance Contribution Act)?
500
Jennifer pays into her company's health savings account. Her contributions to the health savings account are deducted from her gross wages and are considered to be...
What are before-tax deductions?
500
Required tax document used to determine the number of withholding allowances per employee