Question
Can I get a example for this question? Key assumptions for this task are as follows: The company has three employees Jack, Jill and Mary
Can I get a example for this question?
Key assumptions for this task are as follows:
The company has three employees Jack, Jill and Mary
All three employees are hourly employees. Jacks wage is $11.00 per hour, Jill makes $12.00 per hour and Mary makes $13.00 per hour.
The three employees usually work 40 hours per week but sometimes they work more than that. When they do, they are paid time-and-a-half for their overtime work (a 50% premium over their standard wage). For the week we are currently looking at, lets assume that the three employees will work a total of 50 hours. The employees do not necessarily work the same amount of time each week.
Lets assume that federal, state and local taxes and payroll costs total 30% for the employees (we will not break it out in more detail for this exercise).
I want to create a spreadsheet that we can use over and over again to determine what the three employees will be paid every week (that is, what will the take-home pay for each employee be?). How should this sheet be set up and what will the final product look like? What assumptions do we want to place in our Assumptions Block (which items are likely to change?)? Will you need to use absolute referencing tools? Submit your completed Excel Spreadsheet that presents in a single table the gross pay, taxes, and net pay for each employee.
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