Business Mathematics Quiz: SSS Contribution, Overtime Pay,

School: University of California, Berkeley - Course: ENGLISH 120 - Subject: Accounting

2ND QUARTER QUIZ (BUSINESS MATHEMATICS) 1.The amount received by employee after payroll deductions 2.Ria earns a monthly salary of ₱95,000.00 as a manager of an accounting firm in Las Pinas. How much will be her SSS Contribution for the month? 3.Rainier has just started a job and will be receiving a monthly basic salary of ₱23,850.00. If he is not entitled for any benefits yet, calculate his annual net taxable income. 4.In June, Queency was able to sell an appliance worth ₱200,000 and the buyer will pay in four equal monthly installments without interest at the end of each month. If Queency gets 7% commission on every collection, how much is the total commission received as of the end of July? 5.Miguel works for a company that pays him 2.5% on the first P30,000 sold, 4% on the next P70,000 sold and 6% on all sales beyond P100,000. What is his gross pay if he sells P175,000? 6.Calculate the total pay for 86 piecesdonework. QUANTITYPAY PER PIECE0 to 10₱0.3020 to 30₱0.3231 to 40₱0.35 41 to 50₱0.39 61 and above₱0.57 7.Czarina has a monthly basic salary of ₱19,385.45 and monthly rice allowance of ₱1,000.00. Which of the following is NOT true about Czarina's pay? 8.Gabby works in a hardware store. She earns a weekly salary of ₱2,450.00 plus a 6% bonus for sales over ₱15,000.00 per week. She had a total sale of ₱23,225.00 last week. How much did she earn in total? 9.Vivien has gross earnings of P33,700 for the month of September, which included a salary of P17,500 and a 6.4% straight commission on all her sales. What is the total value of the goods she sold this month?10.Suppose Andrei's daily rate is ₱525.00. He worked on Maundy Thursday with 3.5 hours overtime. How much did he earn in total on that day? 11.During a regular week (Monday to Friday), Mina worked for 44.5 hours last week. She is paid overtime in excess of 40 hours. In addition, she worked 4.5 hours last Saturday and 3 hours last Sunday. Saturday work is paid "time and a half" while Sunday work is paid "double time". Her daily rate is ₱466.00. How much is Mina's regular pay? 12. Adrian is given the option to report on Thursday, a special non-working holiday or on Friday, his rest day. If he is asked to work for 10 hours (₱122.25/hour), when is the preferred day to report so Adrian will earn more? 13.During a regular week (Monday to Friday), Mina worked for 44.5 hours last week. She is paid overtime in excess of 40 hours. In addition, she worked 4.5 hours last Saturday and 3 hours last Sunday. Saturday work is paid "time and a half" while Sunday work is paid "double time". Her daily rate is ₱466.00. How much Mina earns on Sunday work? 14.Carylle, a real estate agent sells a piece of property for ₱3,500,000.00. How much is her commission if she is given a 5.5% commission rate? 15.Calleigh works in a garment factory and is paid ₱4.45/piece completed and accepted. Last week she completed the following number of pieces: DAYNUMBER OF PIECES Monday65 Tuesday73 Wednesday79 Thursday84 Friday59 A total of 10 pieces were rejected. How much did she earn last week? 16.Which of the following statements is/are true? Statement I: If an employee works overtime during New Year's Day, he will be paid an additional 30% of his daily rate on the first eight hours.

Statement II: Work done duringregular holidays shall be paid200% of an employee's regularpay for the first eight hours.17.Ms. Bote's gross earnings during theChristmasDaywas ₱3,000.00. Suppose her daily rate is ₱999.00 and she works 8 hours regular time, approximately how many hours was her overtime period on Christmas? 18.Lovely has an annual basic salary of ₱248,387.50. Which of the following statements is/are TRUE about her pay? I.HermonthlyPhilHealth contribution is ₱310.48. II. Her tax rate is 20% of her annual net taxable income. III. Her annual SSS contribution is ₱10,800.00. 19.Lady Ann works as an accountant in a private company. Aside from her monthly salary of ₱28,770, shereceivesthefollowing benefits: Clothing allowance, ₱380 Laundry allowance, ₱300 Rice allowance, ₱1,150 Her mandatory deductions for the month, excluding withholding taxes, amounted to ₱1,656.55. How much is the withholding tax to be deducted to her monthly salary? 20.Luis is a sports therapist in a Physio clinic that pays a wage of ₱956.87 per day. Healso has an average tip of 25% of his total gross therapy services. Last week heworked 5 days and had a total gross therapy service of ₱5,476.40. What was his gross pay last week? 21.Mary, with a monthly basic pay of ₱17,354.00, receives a 2.5% commission in excess of ₱300,000.00 sales in a month. If she made a total sale of ₱375,145.26 last month, calculate her gross pay last month. 22.This is the tax withheld from income payments to individuals arising from an employer-employee relationship. 23.Which of the following is the rate of a wage earner on a regular holiday beyond normal working hours? 24.This is one of the mandatory deductions where 3% shared by employee and employer. 25.The gross pay of Glenda las week, for 44 hours worked, was ₱2,488.50. If all days are ordinary and she is paid overtime in excess of 40 hours, how much is her regular hourly rate? 26.Compute for Athena's overtime pay per hour beyond normal working hours on a New Year's Day where she is being paid a regular hourly rate of ₱135.25.