Cyrus Is a Tipped Employee in Illinois

question 61

Multiple Choice

Cyrus is a tipped employee in Illinois. He is single with one withholding allowance and the minimum cash wage in Illinois is $4.95 per hour for a 40-hour workweek. The tip credit in Illinois is $3.30 per hour (i.e., the minimum wage in Illinois is $8.25 per hour) , and tips are included in
Overtime calculations. During a one-week period, Cyrus worked 52 hours and earned $180 in tips. What is his gross pay? (Do not round
Intermediate calculations. Round your answer to 2 decimal places.)

• A) $351.
• B) $467.10
• C) $426.80
• D) $510.

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Definitions:

Debt To Income Ratio

A personal finance measure comparing an individual's debt payments to their overall income, often used by lenders to assess borrowing capacity.

Government Debt

The total amount of money that a government owes to creditors, which can include foreign governments, domestic banks, and other financial institutions.

Lifetime Income

The total amount of money earned by an individual over the course of their life.

Consumption Tax

A tax on the purchase of goods and services, paid directly by consumers.