17) FICA tax is a tax which is paid by the employee only.
18) Which of the following is paid by the employee only?
A) FICA
B) FUTA
C) Employee income tax
D) State unemployment tax
19) Which of the following is paid by both the employee and the employer?
A) FICA
B) FUTA
C) Employee income tax
D) State unemployment tax
20) Sue works 46 hours at her job during the week. She is paid $13.30/hour and receives overtime at the rate of time-and-one-half for hours worked over forty. What is Sue's gross pay for the week?
A) $611.80
B) $917.70
C) $651.70
D) Some other amount
21) Sue works 46 hours at her job during the week. She is paid $13.30/hour and receives overtime at the rate of time-and-one-half for hours worked over forty. Sue is taxed for federal income taxes at 15% and 7.65% for OASDI and Medicare. All of her income is taxable. What is Sue's net pay?
A) $651.70
B) $147.61
C) $504.08
D) $532.00
22) Which of the following are NOT required to be deducted from employees' paychecks?
A) Federal income tax
B) FICA
C) State income tax
D) Charitable contributions
23) For which of the following taxes is there a ceiling on the amount of annual earnings subject to the tax?
A) FICA
B) Medicare
C) Federal income tax
D) State income tax
24) Which of the following taxes does NOT have a limit on the amount of tax paid per individual?
A) Federal income taxes
B) FICA taxes
C) Federal unemployment taxes
D) State unemployment taxes
25) Which of the following is NOT an expense of the employer?
A) State unemployment taxes
B) FICA taxes—employer's portion
C) Employee income taxes
D) Federal unemployment taxes
26) Which of the following is pay over and above base salary, usually paid for exceptional performance?
A) Commissions
B) Benefits
C) Wages
D) Bonuses