Lesson ProgressPhase 5 of 6
Phase 5Assessment
Assessment: Deductions and Net Pay
Exit ticket on deductions, net pay, and employer obligations
Exit Ticket: Deductions and Net Pay
Answer these questions to demonstrate your understanding of moving from gross to net pay, and why employer cost matters for business planning.
Deductions and Net Pay Check
Answer all 5 questions. You need 4 correct to pass.
1. What is the term for the amount an employee receives after all deductions?
2. If an employee has gross pay of $2,000, Social Security withheld is $124, Medicare is $29, and federal tax is $200, what is the net pay?
3. Why is employer total cost HIGHER than employee gross pay?
4. A 401k contribution is considered a 'pre-tax' deduction. What does that mean?
5. When an employee earns $3,000 in a pay period, how much does the employer pay in total (wages + employer FICA)?
0 of 5 questions answered