Discuss the below in detail:
You will enter in the correct Formulas or Functions needed to find out the monthly gross income for a Computer Repair Business. To view these instructions while working in Excel, print these instructions or move back and forth between your browser and Excel.
1.The Orange colored cells on the worksheet indicate places where you will put in the formulas and functions.
2.Calculate the total Gross Pay for each employee. Keep in mind that employees are paid time and a half for all over-time hours. Here is an example formula that demonstrates how you would make such a calculation: =b4*d4+b4*c4*1.5 These must be formulas and will be entered into the range E11:E14.
3.You must include an absolute reference cell in each formula!!! Imagine while you are completing these steps that there were 150 employees at the company.
4.Calculate the total amount each employee must pay in Federal Taxes in the range F11:F14. These calculations must be completed using formulas. These formulas MUST contain an absolute reference to the cell holding the percentage amount. The percentage is above Federal in cell F9.
5.Calculate the total amount each employee must pay in State Taxes in the range G11:G14. These calculations must be completed using formulas. These formulas MUST contain an absolute reference to the cell holding the percentage amount. The percentage is above State in cell G9.
6.Calculate the total amount each employee must pay in Social Security Taxes in the range H11:H14. These calculations must be completed using formulas. These formulas MUST contain an absolute reference to the cell holding the percentage amount. The percentage is above Social in cell H9.
7.Calculate the total Net Pay for each employee in the range: I11:I14. These calculations must be completed using a formula.
8.Calculate the totals for all of the employee hours and pay categories in the range: B16:I16. These calculations must be completed using SUM functions.
9.Format all of the cells that represent a dollar amount as Currency with 2 decimal places.
| Inter Corp Co. |
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| Wages |
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0.2334 |
0.0445 |
0.12 |
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Regular |
Overtime |
Hourly Rate |
Gross Pay |
Federal |
State |
Social |
Net Pay |
| Matt |
189 |
22 |
22 |
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| John |
111 |
2 |
31 |
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| Susan |
112 |
18 |
41 |
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| Ken |
131 |
6 |
16 |
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| Totals |
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