Question: 1. Why do some companies pay double time? Give an example of companies that pay double time and explain why they pay it. 2. Give
1. Why do some companies pay double time? Give an example of companies that pay double time and explain why they pay it.
2. Give an example of companies that pay a salary plus a commission, that pay compensation by piecework, or that use other compensation methods that you might find?
3. Each person that is employed pays social security and Medicare tax and employer must match what the employee pays. Briefly, explain the benefits derived from social security and Medicare. You may find www.ssa.gov (Links to an external site.) a helpful site for this information.
4. Where would you obtain the most recent copy of the current edition of publication 15-T?
5. Joseph Leeper worked a total of 59 hours in one week. Of these hours, he was paid for 8 at the regular overtime of 1.5 times his hourly wage and for 11 at the holiday rate of 2 times his hourly wage. Find his gross earning for the week if his hourly pay is $12.65.
6. For sewing collars on a shirt, employees are paid $2.50 a shirt. Rita Mitz completes an average of 25 shirts a day. Find her average gross weekly earnings for a 5-day week.
7. Asa Clark, a car salesman, is paid 6% commission for all sales. If he needs a monthly income of $3,000, find the monthly sales volume he must meet.
8. Randy Taylor is a salesperson and is paid a salary of $325 plus 4% of all sales. Find his gross income if his sales are $7,650.
9. William Griffith packages shrimp. He is paid $1 per package on all packages up to 100, $1.50 for packages from 101-150, and $1.75 for all packages over 150. Find his gross pay if he finished 275 packages in one pay period.
10. Amelia Ramos is a marketing representative with weekly earnings of $789. She is married and claims three withholding allowances. Her deductions include social security (6.2%), Medicare (1.45%), federal withholding (use percentage method), state income tax of 1%, union dues of $20.20, and credit union savings of $100. Find Amelia's net pay for a week in March.
Social Security: ___________________
Medicare: ________________________
Income Tax : ______________________
State Income Tax: ________________
Union Dues: ______________________
Credit Union: ____________________
Total Deductions: ________________
Net Pay: __________________________
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