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Calculate Payroll Deductions and Net Pay for Employees. Use Absolute Addressing where appropriate and Use Cell Addresses in formulas, not numeric values Employee List Payroll
Calculate Payroll Deductions and Net Pay for Employees. Use Absolute Addressing where appropriate and Use Cell Addresses in formulas, not numeric values | ||||||||||||
Employee List | Payroll Deductions | |||||||||||
Employee Name | Department | # Dependents | Salary | Federal Tax | Soc Sec Tax | Medicare Tax | Net Pay | Federal Income Tax Rate: | 25% | Std. Deduction for each dependent: | $4,000 | |
Page, Lisa | Sales | 1 | $54,550 | $9,637.50 | Social Security Tax Rate: | 6.20% | Up to Max Salary: | $118,500 | ||||
Taylor, Hector | Sales | 0 | $26,795 | $6,698.75 | Medicare Tax Rate: | 1.45% | Up to Max Salary: | $200,000 | ||||
Dawson, Jonathan | Administration | 1 | $142,540 | $31,635.00 | ||||||||
Weber, Larry | ADC | 2 | $72,830 | $10,207.50 | ||||||||
Pratt, Erik | Sales | 0 | $60,830 | $15,207.50 | 1. In E4, enter the formula to calculate Federal Tax for Lisa Page. | |||||||
Spencer, Boyd | Marketing | 1 | $66,580 | $12,645.00 | 2. Copy the formula in E4 down to E15. | |||||||
Wiggins, Frank | Training | 1 | $75,150 | $14,787.50 | 3. In F4, enter the formula to calculate Social Sec. Tax for Lisa Page. | |||||||
Tanner, Timothy | Sales | 1 | $30,780 | $3,695.00 | 4. Copy the formula in F4 down to F15. | |||||||
Chase, Troy | Training | 0 | $49,350 | $12,337.50 | 5. In G4, enter the formula to calculate Medicare Tax for Lisa Page. | |||||||
Wilkins, Jesse | Marketing | 1 | $79,760 | $15,940.00 | 6. Copy the formula in G4 down to G15. | |||||||
White, Daniel | Administration | 2 | $274,840 | $60,710.00 | 7. In H4, enter the formula to calculate Net Pay for Lisa Page. | |||||||
Holland, Donald | Training | 0 | $29,070 | $7,267.50 | 8. Copy the formula in H4 down to H15. | |||||||
TOTAL | ||||||||||||
Hints: | Fed Tax Deduction: | (Salary * Federal Tax Rate) minus (# dependents * dependent deduction) | ||||||||||
Social Security Tax Deduction: | if (Salary < SS Maximum Salary, then SS tax = Salary * SS Tax Rate, otherwise SS tax = SS Maximum Salary * .SS Tax Rate) | |||||||||||
Medicare Deduction: | if (Salary < Medi Maximum Salary, then Medi Tax = Salary * Medi Tax Rate, otherwise Medi Tax = Medi Maximum Salary * Medi Tax Rate) | |||||||||||
Net Pay: | Salary minus [Federal Tax] minus [SS Tax] minus [Medicare Tax] |
I need the formulas and not just the answers. In an excel spreadsheet.
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