Final Exam Review Fall - EXAM REVIEW MONEY MANAGEMENT NAME:_

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
EXAM REVIEW MONEY MANAGEMENT NAME:___________________________ 1.  Complete the time card. Time Card Name _ Courtney Reed ________________ Job Title Cashier ______________ Hourly Rate ____ $7.80 _______________ Week Ending _ 8/27-8/31 ________ IN OUT LUNCH IN OUT Daily Hours Monday 8:00 12:05 ------------ 1:00 4:45 Tuesday 7:49 11:50 ------------ 12:30 4:30 Wednesday 8:28 12:45 ------------ 1:45 5:32 Thursday 8:15 1:08 ------------ 2:15 4:25 Friday 8:50 12:30 ------------ 1:00 5:08 Saturday ------------ ------------ ------------ ------------- ------------ Total Weekly Hours 2.  A sales representative receives a base salary of $24,000 per year and a 15% commission on all sales.  Last year’s sales amounted to $250,000.  Find the total  salary.  __________ 3. Sheila is a clerk in a major department store.  She earns $6.50 per hour and a 5% commission on all sales.  She earns time and a half for all hours over 40.  Find  the total salary for a 46-hour week and total sales of $9700.  __________ 4.   Mary earns $3.00 for each pair of shoes and $1.50 for each shirt she sells.  How much will she earn if she sells 17 pairs  of shoes and 30 shirts?     __________ 5.  Tim earns a salary of $90,000 per year.  He is paid biweekly.  What is the amount of his gross pay each pay period?   __________ 6. If a person is paid semimonthly, how much would there gross pay be each pay period if the annual salary is $52,500?   __________ 7. Wanda earns $525 a week.  She is married and claims 1 allowance.  What amount is withheld  weekly  for federal income  tax?  __________ 8. You currently earn  $32,500 annually.  Your personal exemptions total $1500. The state income tax rate is 4.2% of your  taxable income.  How much is withheld each week from your gross pay for state income tax?  __________ 9. Tammy’s gross pay is $1220.  How much will be withheld from her check for Social Security (6.2%)?  What amount is  withheld for Medicare(1.45%)?  __________ 10. Bob Charles earns $42,000 annually.  He is married and claims 1 allowance for federal tax purposes.  The state tax rate is 3.1%, and his annual personal 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/24/2012 for the course HUM 9999 taught by Professor Variousprofessorslisted during the Summer '06 term at Abilene Christian University.

Page1 / 4

Final Exam Review Fall - EXAM REVIEW MONEY MANAGEMENT NAME:_

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online