Accounting Jeopardy ROUND 3 (Payroll)

Hourly

100

What is gross pay for a person who worked 25.5 hours at $11.25 per hour

$286.88

200

What is gross pay for a person who worked 55 hours at $10 per hour

$625

40 hours x $10 = 400

15 hours x $15 = $225

$400+$225= $625

300

What is gross pay for a person who is paid bi-weekly.  They get paid $12 per hour. In week 1 they worked 32 hours.  In week 2 They worked 42 hours.  What is their gross pay?

$900

Week 1 32 hours x $12 = $384

Week 2 40 hours x $12 = $480  2 Hours overtime x $18 = $36 Reg + OT = $516

$384 + $516 =$900

Commission

100

What is 7% commission for $1453 in sales

$101.71

200

What is 3.2% commission on $9050 worth of sales

$289.60

300

A company pays out 5% commission on sales of suits

Sally sold $6700 worth of suits

Sam sold $7700 worth of suits

Solve how much commission the company has to pay out.

$720

$6700 +7700 = $14400

$14400 x .05 = $720

Salary + Commission

100

If salary is $200 a week and Commission is 7% on sales and sales were $1453.  What is gross pay?

$301.71

$200 = salary

.07 x 1453 = 101.71

200

If salary is $500 a week bi-weekly and commission is 4% of sales.  Sales were $6767.  What is the gross pay

$1270.68

Bi weekly - $500 x 2 = $1000

Commission .04 x $6767 =$270.68

300

An employee being paid $80,000 a year salary paid out weekly + 1% commission on sales .   Sales were $6767.  What is gross pay for the week

$1,606.13

$80,000 / 52 weeks = $1538.46

.01 x $6,767 = $67.67

Withholdings

100

Social security tax rate is 6.2%.  How much is the deduction if gross pay is $1200

$74.40

1200 x .062

200

Social Security 6.2%

Medicare 1.45%

What is the deduction for an employee who earned $4143

$316.94

Social- .062 x 4143  = $256.87

Medicare-  .0145 x 4143 = $60.07

300

Decountion stared at his stub: Gross Pay $893. Social Security at 6.2%, Medicare at 1.45%, and State Tax at 2% carved little bites from his earnings. Still, he smiled. Each deduction felt like a small step toward stability—proof he was building something better than the month before. How much of a deduction is from Decountion's check?

$86.17 or $86.18

Social 893 x .062 = $55.37

Medicare 893 x.0145 = $12.95

State Tax 893 x.02 = $17.86

Federal income tax

100

Daily Double

Why are the Cowboys losing?

DAK!!!

200

Married with 0 Dependents and earned $235.67 What is the Federal deduction

$17

300

Jimmy married Elena after they met volunteering at a food bank. They built a life together and welcomed twins, Lily and James. But everything changed when Elena divorced him and ran off with Dr. Reverend New. Now Jimmy raises the kids alone, determined to give them stability despite the heartbreak.   Jimmy made $328 last week what is his Federal deduction

$26