1) What is it called when an e

1) What is it called when an employee is paid by producing ameasurable output?

Answer:  

A.

An independent contractor

B.

Piecework

C.

A tipped employee

D.

None of these options

2) Which of the following is NOT an incentive plan?

Answer:  

A.

A stock option

B.

Cash for reaching a specified goal

C.

Sick pay

D.

Additional vacation days

E.

Profit-sharing plans

3) Marcus Allensworth is a waiter at a large restaurant. Inaddition to his tips, he is paid $5.25/hour. The amount of thehourly tip credit that Marcus’ employer is utilizing is $______

4) When an employee earns a bonus that is considered to be apart of regular earnings, that bonus is classified as a(n) _____bonus.

Answer:  

A.

incentive

B.

discretionary

C.

commission

D.

non-discretionary

Answer:

1)

Option B: Piecework

Explanation:

Option A is incorrect because an independent contractor is aperson, business, or corporation that provides goods or servicesunder a written contract or a verbal agreement. Unlike employees,independent contractors do not work regularly for an employer butwork as required, when they may be subject to law of agency.

Option B is correct because Piecework, or piece work pay, ispaying an employee a fixed pay rate for each unit they produce.Piece rate pay is most common for a contractor employee. However,employees who are not contractors can be paid piecework pay, too.Piecework rates typically depend on the job and productproduced.

Option C is incorrect because any employee working in anoccupation in which he or she regularly receives more than $30 amonth in tips is considered a tipped employee. A listing of wageand tip amounts required to be paid to tipped employees asdetermined by state law.

Option D is incorrect since option B is correct.

B)

Option C: Sick pay

Explanation:

Incentives are effective motivatorswhen the objectives to be met are clearly stated upfront and whenthe incentives offered are desirable. Incentives are variablerewards granted according to level of achievement of specificresults. Here all options other than sick leave are payment forperformance or payment by results. sick leave will be granted withor without the level of achievement of specific results. Therefore,Option C is correct.

C)

$2

Explanation:

Current federal minimum wage = $7.25

Current hourly pay = $5.25

hourly tip credit utilized by employer = Current federal minimumwage-Current hourly pay

=$7.25 – $5.25

= $2

Therefore, hourly tip credit utilized by employer = $2

D)

Option D: non-discretionary

Explanation:Option A is incorrect because Incentives are effective motivatorswhen the objectives to be met are clearly stated upfront and whenthe incentives offered are desirable. Incentives are variablerewards granted according to level of achievement of specificresults. Incentives are not considered to be a part of regularearnings

Option B is incorrect because discretionary bonus is the bonusfor which a employee qualifies if he achieved a major goal ordemonstrated exceptional performance. Discretionary bonus is notconsidered to be a part of regular earnings

Option C is incorrect because commission plans are based on theamount of money or revenue a salesperson earns in the sales theyhave made. This outlines how much the company will pay itssalespeople for each sale. commissions are not considered to be apart of regular earnings.

Option D is correct because a non-discretionary bonus is a bonusthat the employee is expected to be paid and it is usually given atthe same time, either monthly, quarterly or annually. Because thesebonuses are agreed upon ahead of time, they must be included in theregular rate of pay and the calculation of overtime. it isconsidered to be a part of regular earnings.


 
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