Multiple Choice
Identify the
choice that best completes the statement or answers the question.
|
|
|
1.
|
A truck driver earns $21.75/h and works 7.75 hours. How much money did the truck
driver earn?
a. | $168.56 | b. | $152.25 | c. | $29.50 | d. | $146.81 |
|
|
|
2.
|
A desk clerk works the late shift and earns $236.31 for the 7.25-h shift. A
shift premium of $75.00 is paid for working later. What is the regular rate of pay/h?
a. | $22.25 | b. | $10.34 | c. | $3.15 | d. | $42.94 |
|
|
|
3.
|
Catherine works as a realtor and earns 2.75% commission on a home sale. If she
earns $19 420.34 on the sale, what was the selling price of the house?
a. | $70 619.40 | b. | $534 059.21 | c. | $53
405.92 | d. | $706 194.00 |
|
|
|
4.
|
Fatima is a sales consultant for a mail-order jewelry company and earns 10% of
her sales. If she sells more than $2000 in a week, she earns a $180 bonus. Last week, Fatima sold the
following amounts each day. | Monday | $553.00 | | Tuesday | $507.00 | | Wednesday | $622.00 | | Thursday | $785.00 | | Friday | $293.00 | | |
What was
Fatima’s gross pay for last week? a. | $2760.00 | b. | $456.00 | c. | $180.00 | d. | $276.00 |
|
|
|
5.
|
The Canada Pension Plan (CPP) rate is 4.95% of a person’s gross pay up to
a maximum of $2593.80 per year. How much did Francine make if her CPP payments for the year are
$2326.50?
a. | $24 476.59 | b. | $47 000.00 | c. | $1812.01 | d. | $52 400.00 |
|
|
|
6.
|
The Employment Insurance (EI) rate is 1.66% of a person’s gross pay up to
a maximum of $836.19 per year. How much did Kai make if her EI payments for the year are
$713.80?
a. | $75 097.32 | b. | $5102.59 | c. | $52
651.53 | d. | $43 000.00 |
|
|
|
7.
|
The Employment Insurance (EI) rate is 1.66% of a person’s gross pay up to
a maximum of $858.22 per year. The employer’s contribution rate is 2.32% of a person’s
gross pay up to a maximum of $1201.51 per year. How much did the employer pay in premiums if
Catherine makes $34 000.00 for the year?
a. | $564.40 | b. | $858.22 | c. | $1353.20 | d. | $788.80 |
|
|
|
8.
|
Mei works at a candy store on Monday night where she earns $249.85 per month.
Mei uses this money to pay for her cell phone plan that is $42/month, a transit pass for $49/month,
and a yoga class for $50/month. If Mei wants to save $250 for a new bike, and she saves 40% of her
paycheque per month, how long will it take to save the money?
a. | 4 months | b. | 5 months | c. | 7
months | d. | 6 months |
|
|
|
9.
|
Cai earns an annual salary of $73 000. Her total deductions for the year are $14
965.00, $5621.00, $2593.80, and $858.22 for federal tax, provincial tax, CPP, and EI, respectively
each year. What were Cai’s total deductions for the year?
a. | $24 038.02 | b. | $78 891.98 | c. | $48
961.98 | d. | $73 000.00 |
|
|
|
10.
|
Mirka checks her final pay stub for the year and the following deduction totals
are shown:
Federal Tax: $5850.00
BC Tax: $3003.00
Canada Pension Plan:
$1930.50
Employment Insurance: $647.40
If her deductions represent 29.3% of her gross pay,
what was Mirka’s gross pay for the year, to the nearest dollar?
a. | $11 431 | b. | $27 569 | c. | $39
000 | d. | $16 170 |
|
Short Answer
|
|
|
1.
|
Erek works as a data entry clerk earning $17.90/h. He is paid regular time for
the first 40 hours, time-and-a-half for 10 hours and double time for any additional hours. What is
Erek’s gross pay if his works 61 h?
|
|
|
2.
|
Calculate the net pay for the following pay stubs.
a) gross pay: $595.16,
deductions: $89.27
b) gross pay: $1310.92, deductions: $262.18
c) gross pay: $2203.05,
deductions: $550.76
|
|
|
3.
|
Fatima checks her final pay stub for the year and the following deduction totals
are shown:
Federal Tax: $18 655.00
BC Tax: $11183.90
Canada Pension Plan:
$2593.80
Employment Insurance: $858.22
If her deductions represent 36.6% of her pay, what
was Fatima’s gross pay for the year, to the nearest thousand dollars?
|
Problem
|
|
|
1.
|
Claude is a sales consultant for a mail-order jewelry company and earns 20% of
his sales. If he sells more than $3800 in a week, he earns a $400 bonus. Last week, Claude sold the
following amounts each day. (Hint: Round Claude’s gross salary to the nearest dollar.) | Monday | $1007.00 | | Tuesday | $652.00 | | Wednesday | $944.00 | | Thursday | $760.00 | | Friday | $1181.00 | | |
Assuming Claude has the same gross pay each week and takes 8 weeks
of vacation, what is Claude’s net pay for the year? 2018 British Columbia: Provincial
Income Tax Amounts | Income | Tax Rate | | $0 – $38 898 | 5.06% | | $38 898 – $77 797 | 7.7% | | $77 797 – $89 320 | 10.5% | | $89 320 – $108 460 | 12.29% | | over $108 460 | 14.7% | | |
2018 Canada: Federal
Income Tax Amounts | Income | Tax Rate | | $0 – $45 916 | 15% | | $45 916 - $91 831 | 20.5% | | $91 831 - $142 353 | 26% | | $142 353 - $202 800 | 29% | | over $202 800 | 33% | | |
Employment Insurance
(EI) Premium Rate: 1.66% to a maximum of $858.22 Canada Pension Plan (CPP) Contribution Rate:
4.95% to a maximum of $2593.80
|
|
|
2.
|
In the restaurant industry servers are often required to pay a tip. A tip out is
an amount or percentage of a server's tips that the server shares, either voluntarily or as
mandated, in a tip sharing or tip pooling agreement. Tips are shared with other employees such as
bussers, bartenders, back waiters and host/hostesses whose job duties indirectly assist the
server.
Mirka has just been hired by a local restaurant. She is paid minimum wage of $11.35
plus tips. In addition, she pays a tip out of 5.5% based on her gross sales for the day. If
Mirka works a 4 hour shift and earns 7% on $1155.00 in gross sales, how much does she make for the
night?
|