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# Page|15

2.3.9.A1

GettingPaidMath

TotalPointsEarned

30 TotalPointsPossible

Percentage

10/28/14
Date

## Class Personal Finance

Iftheydonotequalyourgrossincome,thenyouneedtorecalculate.

GrossIncome=NetIncome+Deductions

Part1:JoesHourlyPayStub
Inthelastpayperiod,Joeworked80hoursearning\$12perhour.Usetheworkspaceandmathtipsto

Paystubcategories
WorkSpace&MathTips
Paystubamounts
WhatisJoesgrosspay?
1.
960
80hoursx\$12perhour=960
WhatisJoesSocialSecurity
deduction(6.2%ofgrosspay)?
WhatisJoesMedicarededuction
(1.45%ofgrosspay)?
IncomeTax,\$21inStateIncomeTax
and\$65inemployeebenefits
withheldfromhispaycheck,what
wereJoestotaldeductions?
WhatwasJoesnetpay?

59.52
960
Grosspay___________x.062=

2.

3.

13.92
Grosspay___________x.0145=
960
4.
59.52
SocialSecurity__________+
13.92
Medicare__________+\$46FederalIncome
Tax+\$21StateIncomeTax+\$65employee
benefits=205.44
960
Grosspay__________totaldeductions
205.44
_______

59.52
13.92

205.44

5. 754.56

HowmuchwillJoesemployerpayperpayperiodforMedicareandSocialSecurity?

His employer will pay the same as him. He will pay \$73.44.

TakeChargeTodayAugust2013GettingPaid
FundedbyagrantfromTakeChargeAmerica,Inc.totheNortonSchoolofFamilyandConsumerSciencesTakeChargeAmericaInstituteatTheUniversityofArizona

Page|16
2.3.9.A1

Part2:EdwinsSalaryPayStub
questions610tocalculateEdwinsMarchpaystubamounts.Then,calculatetheyeartodateamounts.

Paystubcategories
WorkSpace&MathTips
MarchPaystub
amounts
6.
WhatisEdwinsmonthlygrosspay?
5,000
\$60,000annualsalary/12monthsperyear=
WhatisEdwinsSocialSecurity
deduction(6.2%ofgrosspay)?

310
5000
Grosspay___________x.062=

WhatisEdwinsMedicarededuction
(1.45%ofgrosspay)?
FederalIncomeTax,\$209inState
IncomeTaxand\$250inemployee
benefitswithheldfromhispaycheck,
whatwereEdwinstotaldeductions?
WhatwasEdwinsnetpay?

7. 310
8.

72.5
5000
Grosspay___________x.0145=

72.5

9.

1,254.5

310
SocialSecurity__________+
72.5
Medicare__________+\$413FederalIncome
Tax+\$209StateIncomeTax+\$250
employeebenefits=
5000
Grosspay__________totaldeductions
1,254.5
_______

10.

3,745.5

Edwinispaidmonthly.Heearnsthesameamountandhasthesamedeductionseachmonth.Usethe
paycheckoftheyear.

Paystubcategories
Workspace
YeartodateamountsinEdwins
Marchpaystub
Grosspay

11.
SocialSecurity

310
Medicare

1,254.5

12.
13.

72.5*3

Totaldeductions

3745.5

310*3

72.5

Netpay

15,000

5,000*3

5,000

1,254.5*3
3745.5*3

14.
15.

930

217.5

3,763.5
11,236.5

TakeChargeTodayAugust2013GettingPaid
FundedbyagrantfromTakeChargeAmerica,Inc.totheNortonSchoolofFamilyandConsumerSciencesTakeChargeAmericaInstituteatTheUniversityofArizona

Page|17
2.3.9.A1

Part3:ZoesPayStub
ZoebeganworkingJanuary1andheremployerneedsyourassistancetocompletethecalculationsforher
paystub.BecauseZoeworksparttime,heremployerdoesnotofferbenefitsincludinghealthinsurance,
retirementandaccruingemployeeleavetime.Completethecalculationsforherpaystubtofillinthe

EmployeeInformation

PayDate 4/11/2013

Name

IdentificationNumber

Pay Rate

PayPeriod

ZoeDashwood

0012345

\$13.50

3/13/31/2013
(monthly)

Summary

GrossIncome

TotalPersonalDeductions

NetIncome

Current

1080

167.05

912.95

YTD

3240

501.15

2738.85

Earnings
Type

Rate

Hours

Current

YTD

Regular

\$13.50

80

1080

3240

Overtime

Deductions
Type

PersonalDeduction

EmployerContribution

Federalincometax

\$58.43

Stateincometax

\$26.00

SocialSecurityandMedicare

82.62

\$82.62

Workerscompensation

\$6.21

Unemploymentinsurance

\$2.81

16.WhatisZoesgrosspay?

17.WhatisZoesyeartodategrosspay?

18.WhatisZoesSocialSecurityandMedicarededuction?

82.62

19.WhatareZoestotaldeductions?

167.05

20.WhatisZoesnetpay?

912.95

1080

3240

TakeChargeTodayAugust2013GettingPaid
FundedbyagrantfromTakeChargeAmerica,Inc.totheNortonSchoolofFamilyandConsumerSciencesTakeChargeAmericaInstituteatTheUniversityofArizona