Yes, this is correct.
When you do your tax return, your income from this job is going to be one amount. There isn't line items for hourly pay, pto, bonuses, etc. that are taxed different amounts.
I here your concern all the time at work when people are cashing out pto or we are getting a bonus.
It's discouraging to me how many people don't have a basic understanding of this works, and that they only seem to know about how much taxes they pay in how much us taken out of their paycheck and how much refund they get when they file tax returns.