Payroll & Purchasing Skills & Knowledge Test

The better deal is $12.00 for three dozen pens. By dividing $12.00 by three, we can find the cost per dozen, which is $4.00. This means that each dozen of pens costs $4.00, which is cheaper than the $5.00 for a dozen option. Therefore, purchasing three dozen pens for $12.00 is a better deal than buying one dozen for $5.00.

New Egg is the better deal because even though the laptop itself is slightly more expensive, they waive the shipping charges for orders over $300. Since the laptop costs $575, which is over $300, there will be no shipping charges at New Egg. On the other hand, at Best Buy, the laptop costs $550 and there is a flat shipping fee of $35 per order. Therefore, the total cost at New Egg will be lower than at Best Buy.

It is not okay to tell Sam's wife what he made on payday because salary information is considered personal and confidential. Sharing this information without Sam's consent would be a violation of his privacy.

Supplemental wages paid to employees, such as bonuses and commissions, are indeed taxable. These wages are considered as income and are subject to federal income tax, as well as other applicable taxes such as Social Security and Medicare. The employer is required to withhold the appropriate amount of taxes from these supplemental wages and report them to the tax authorities. Therefore, the statement that supplemental wages are not taxable is incorrect.

The SCD employee earns $9.00 per hour and receives an additional $3.50 per hour in Health & Welfare benefits. To calculate their gross pay for the week, we multiply the total number of hours worked (35) by the sum of their hourly wage and the Health & Welfare benefits: ($9.00 + $3.50) * 35 = $437.50. Therefore, the correct answer is $437.50.

Employers are indeed required to pay Social Security and Medicare taxes on wages paid to employees. This is in addition to the taxes they deduct from their employee's paychecks. These taxes are used to fund the Social Security and Medicare programs, which provide benefits to retired individuals and those with disabilities, as well as healthcare coverage for individuals over the age of 65. Therefore, it is true that employers have the responsibility to pay these taxes on behalf of their employees.

A full-time employee by definition works 40 hours per week, so they make $400 each week ($10/hr x 40 hrs/week). There are 52 weeks in a year, so the employee makes $20,800 per year ($400/week x 52 weeks/year).

The quickest way to calculate this is the take the hourly rate and multiply it by 2080 (40hrs/week x 52 weeks/year = 2080 hrs/year).

The employee receives a 5% pay raise, which means their hourly rate will increase by 5% of $10.00. To calculate this, we multiply $10.00 by 5% (0.05). The result is $0.50. Adding this to the original hourly rate of $10.00 gives us the new hourly rate of $10.50.

A salared employee by definition works 40 hours per week, so to calculate their hourly rate you divide their annual salary by 2080 (40 hrs/wk x 52 wks/yr = 2080 hrs/yr).

The employee worked from 1:00 pm to 3:30 pm, which is a total duration of 2 hours and 30 minutes. Since there are 60 minutes in an hour, 30 minutes is equivalent to 0.5 hours. Therefore, the employee worked for 2 hours and 0.5 hours, which adds up to 2.50 hours.

If an employee wants to request a purchase totaling $550, but their spending limit is only $50, the appropriate action would be to obtain approval from someone above the employee who has a spending limit greater than $500. This ensures that the purchase is authorized by someone with the authority to make decisions regarding larger expenses. Splitting the order into two separate orders or placing the order anyway would not address the issue of exceeding the spending limit. Telling the employee they can't place the order and they are out of luck would not be a productive or fair response.

An employee receives overtime pay when they physically work more than 40 hours per week. This means that if an employee works more than 40 hours in a given week, they are entitled to receive additional compensation for the extra hours worked. This is a common practice in many industries and is often required by labor laws to ensure fair compensation for employees who work longer hours.

The correct answer is $550.00. To calculate the gross pay, we multiply the pay rate ($10.00/hr) by the number of hours worked (50 hours). Therefore, $10.00/hr * 50 hours = $500.00.

The correct answer is "No one." Sharing this information with anyone could potentially violate the terminated employee's privacy rights and could also lead to unnecessary gossip or speculation among coworkers. It is best to keep this information confidential and only share it with those who have a legitimate need to know, such as the HR department or the person responsible for disabling the sales rep's payroll access.

The current federal minimum wage in the United States is $7.25 per hour. This is the minimum hourly wage that employers are required to pay their employees by law. It is important to note that individual states may have their own minimum wage laws, which could be higher than the federal minimum wage. However, the federal minimum wage serves as the baseline standard for minimum wage across the country.

An average, non-disabled worker can glue 500 pieces in an hour and makes $10 per hour. To find out how much we need to pay consumers for each piece they glue, we divide the total amount earned ($10) by the total number of pieces glued (500). The result is $0.02 per piece, which is the correct answer.

The responsibilities of purchasing include placing orders requested by company employees, checking options to ensure the best price for products, creating purchase orders for documentation, following up on back orders, and researching discrepancies in pricing between quotes and invoices. These tasks involve the procurement process and ensuring efficient and cost-effective purchases for the company.