Set up Figures 9-5 and 9-6 in spreadsheets in an Excel workbook. The spreadsheet for Figure 9-5 should allow the user to recalculate the social security, Medicare, FUTA, and SUTA costs by changing the social security rate and limit, Medicare rate, FUTA rate and limit, SUTA rate and limit, the wages for salaried employees, and the hours [worked] per week and wage rate for hourly employees. Use the concepts presented in Sidebar 9-1 to set up this spreadsheet.
FIGURE 9-5 Employee Costs
FIGURE 9-6 General Overhead Budget
When a change is made to the spreadsheet for Figure 9-5, the employee wages and salaries, the employee taxes, and insurance should automatically change in the spreadsheet for Figure 9-6.