Consumer Economics
Mr. Rubin de Celis
Chapter 6 – Apply what you know.
1. Compute gross pay for these situation: $610.05
a. Regular hours worked: 40
Overtime hours worked: 6
Regular rate of pay: $12.45
b. Total hours worked in 5 days: 48.75 hours: $610.94
Regular rate of pay: $11.50
c. Annual salary: $42,653.00
Compute monthly gross $3,554.42
Compute if paid twice a month: $1,777.21
Compute if paid every other week: $1,640.50
Compute hourly rate: $20.51
Compute two week vacation pay: $2,461.20
d. Commission rate: 2.75%
Total sales: $114,000: $3,135.00
2. Using the payroll tax withholding tables, find the state and federal withholding amounts for
each of the following:
a. For a single person, one allowance, who made $435.76/wk: Fed 51
State __28____
b. For a single person, no allowances, who made $367.00/wk: Fed 47_____ State __24____
c. For a married person, two allowances, who made$1,345/m; Fed 60____ State- _57___
d. For a married person, 6 allowances, who made $1,479/m; Fed 17____ State __56____
3. Jim Shoe jones works for a weekly paycheck. He is single and claims no allowances. Last week he
worked 5 days for a total of 44 hours. His regular rate of pay is $10.56 an hour. In addition to
federal income tax, state income tax, and social security tax, he also has insurance of $16 a week
withheld and 6% of his gross pay into a retirement account. Compute his Net Pay.
4. Martin Luther works for a monthly paycheck. She is married and claims tow allowances. Her
annual salary is $25,875. In addition to her required deductions, she also contributes $14 a week
to the Hear fund and sets aside $50 a month, paid directly to her savings account. Compute her
gross pay, deductions, and net pay. Use $91.00 for State withholding
5. Chris Christy makes an annual salary of $32,000. However, he gets paid every other week. How
much is his gross pay on each paycheck? Answer: $1,230.77
6. Gram Craker works for a weekly paycheck. She is single and claims no allowances. Last week she
worked 5 days for a total of 46 hours. Her regular rate of pay is $8.25 an hour. In addition to
federal income tax, state income tax and social security tax. Compute her gross pay, deductions,
and net pay.
7. Patty gets paid 55 cents per mile for travel expenses. She submitted her number of miles to the
Sharon. How much will he 135 hours x .55 =
Employee Withholding Worksheet
Employee name: Jim Shoe
Pay Period:
Social Security Number: ____________
Weekly
x
x
Number of allowances: __0___
x
Bi-monthly
Monthly
Married
Single
Gross Pay:
1
Regular Hourly wage: __$10.56____
Regular hours worked: __40__
$ 422.40
2
Overtime hourly wage: ___15.84
Overtime hours worked __4_
$
63.36
Or
3
Regular Salary
4
Overtime hourly wage: _____
$ ___________
Overtime hours worked _____
Gross Pay:
$ ___________
$
485.76
Required Deductions:
Federal Income Tax ( use table):
$
68
State Income Tax ( use table):
$
53
Social Security Insurance /Medicare (5.65%)
$
37.16
Insurance:
$
16
Union Dues:
$ ___________
Credit Union – loan:
$ ___________
Savings:
$ ___________
Retirement:
$
Other:
$ ___________
Other deductions:
Total Deductions:
29.15
$ (203.31)
Net Pay:
$ 282.45
Employee Withholding Worksheet
Employee name: Martin Luther
Pay Period:
x
x
Number of allowances: 2
x
Social Security Number: ____________
Weekly
Bi-monthly
Married
Monthly
Single
Gross Pay:
1
Regular Hourly wage: ________
2
Overtime hourly wage: ________
Regular hours worked: _______
Overtime hours worked
$
$
Or
3
Regular Salary
4
Overtime hourly wage: _____
$ 2,156.25
Overtime hours worked _____
Gross Pay:
$
$ 2,156.25
Required Deductions:
Federal Income Tax ( use table):
$
180
State Income Tax ( use table):
$
91
Social Security Insurance /Medicare (5.65%)
$ 164.95
Other deductions:
Insurance:
$
Union Dues:
$ ___________
Credit Union – loan:
$ ___________
Savings:
$
50
Retirement:
$
56
Other:
$ ___________
Total Deductions:
Net Pay
$ (541.55)
$ 1,614.30
Employee Withholding Worksheet
Employee name: Gram Craker
Pay Period:
x
x
Number of allowances: 0
x
Social Security Number: ____________
Weekly
Bi-monthly
Married
Monthly
Single
Gross Pay:
1
Regular Hourly wage: $ 8.25
2
Overtime hourly wage: $ 12.38
Regular hours worked: 40
Overtime hours worked: 6
$ 330.00
$
74.25
Or
3
Regular Salary
4
Overtime hourly wage: _____
$
Overtime hours worked _____
Gross Pay:
$
$
404.25
Required Deductions:
Federal Income Tax ( use table):
$
53
State Income Tax ( use table):
$
28
Social Security Insurance /Medicare (5.65%)
$
30.92
Other deductions:
Insurance:
$
Union Dues:
$ ___________
Credit Union – loan:
$ ___________
Savings:
$
Retirement:
$
Other:
$ ___________
Total Deductions:
$ (111.92)
Net Pay
$ 292.33