81. Which statement below is not a determinate in calculating the amount of federal income taxes withheld from an individuals pay?
A. filing status
B. types of earnings
C. gross pay
D. number of exemptions
82. Which of the following would be used to compute the federal income taxes to be withheld from an employee’s earnings?
A. FICA tax rate
B. wage and tax statement
C. FUTA tax rate
D. wage bracket and withholding table
83. Which of the following taxes would be deducted in determining an employee’s net pay?
A. FUTA taxes
B. SUTA taxes
C. FICA taxes
D. all of the above
84. For which of the following taxes is there no ceiling on the amount of employee annual earnings subject to the tax?
A. only Social Security tax
B. only Medicare tax
C. only unemployment compensation tax
D. none of the above
85. Most employers are required to withhold from employees which of the following employment taxes?
A. FICA tax
B. FICA tax, state and federal unemployment compensation tax
C. only state unemployment compensation tax
D. only federal unemployment compensation tax
86. An employee receives an hourly rate of $40, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the gross pay for the employee?
A. $775.00
B. $1,840.00
C. $1,960.00
D. $1,562.60
87. An employee receives an hourly rate of $27, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid to the employee?
A. $713.75
B. $935.15
C. $764.75
D. $873.77
88. Prior to the last weekly payroll period of the calendar year, the cumulative earnings of employees A and B are $99,350 and $91,000 respectively. Their earnings for the last completed payroll period of the year are $850 each. The maximum amount of earnings subject to social security tax at 6% is $100,000. All earnings are subject to Medicare tax of 1.5%. Assuming that the payroll will be paid on December 29, what will be the employer’s total FICA tax for this payroll period on the two salary amounts of $850 each?
A. $127.50
B. $115.50
C. $112.50
D. $0
89. The total earnings of an employee for a payroll period is referred to as
A. take-home pay
B. pay net of taxes
C. net pay
D. gross pay
90. An employee receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $300; cumulative earnings for year prior to current week, $90,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid to the employee?
A. $1,032.00
B. $1,143.00
C. $1,053.60
D. $1,166.40
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more