1. per the IRS, Service Charges will now be considered tipped wages , and will need to be included in the regular rate of pay for overtime calculations, and also included in the minimum wage calculation. True False

2. Axel's regular rate of pay is $20 per hour with the normal one and one-half times his regular rate for any hours which exceed 40 hours per week. He worked 45 hours last week. The federal income tax is at 25% on all salaries and wages, and the FICA tax rate is at 7.65%. Axel also takes out 5% for his retirement account. What is Axel's net pay for this week?

$599.33

$555.50

$655.64

$592.33

3. Squidward's regular rate of pay is $7.25 per hour with one and one-half times his regular rate for any hours that exceed 40 hours per week. He worked 48 hours last week. Therefore, his gross wages were: $348. $377. $417. $438