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Instructions : In the Answers column, place the letter from the list below that identifies the term that best matches the statement. No letter should

Instructions:In the Answers column, place the letter from the list below that identifies the term that best matches the statement. No letter should be used more than once.

a.Payroll functionh.Hourly-rate plano.Federal Insurance

b.Payroll recordi.Indirect laborContribution Act

c.Defined contribution plansj.Federal Unemploymentp.Piece-rate plan

d.Direct laborTax Actq.Magnetic card reader

e.Employee earningsk.Defined benefit plansr.Payroll taxes

recordl.Non-contributory planss.Bonuses, vacations,

f.Contributory plansm.Modified wage planand holiday pay

g.Bar codesn.Shift premiumt.Timekeeping

function

Answers

_____1.This is the labor charged to the product by a debit to the work-in-process account.

_____2.This consists of all other types of labor used in the manufacturing process and is charged to the factory overhead account.

_____3.This is a widely accepted wage plan that is simpler to use than other plans.

_____4.Under this type of wage plan, earnings are based on the workers quantity of production.

_____5.An example of this type of plan would be a set minimum wage plus an additional payment per piece if the established quota is exceeded.

_____6.The responsibilities of this area include determining the number of hours that the company should pay for the type of work the employees performed.

_____7.This area is assigned the responsibility of computing each employees gross earnings, the amount of withholding, and the net pay.

_____8.These are pension plans whose retirement benefit payments are based on the performance of the investment vehicles chosen by the employees.

_____9.This becomes the mechanism by which timekeeping data is transferred to a remote computer terminal.

_____10.Even though these are received at specific times during the year, their costs are accrued throughout the year.

_____11.This is a summary listing of employees earnings for a payroll period and includes such items as FICA taxable earnings, deductions, and net amount paid.

_____12.This is a record of the cumulative earnings of each employee.

_____13.These are symbols that can be processed electronically to identify numbers,letters, or special characters.

_____14.These are pension plans that require a partial contribution by the employees.

_____15.These are imposed on employers and include social security tax and federal and state unemployment taxes.

_____16.It requires employers to pay social security taxes on wages and salaries equal to the amount withheld from employee earnings.

_____17.This requires employers to pay an established rate of tax on wages and salaries to provide for compensation to employees if they should be laid off from their regular jobs.

_____18.This usually is added to the regular rate of pay for employees who do not work a normal day shift.

_____19.These are pension plans that specify the amount of benefits that an employee will receive based on earnings and length of service.

_____20.These are pension plans that are completely funded by the company.

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