As manager of the gift shop at the Metropolitan Zoo, you areresponsible for managing the weekly payroll.

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Question:

As manager of the gift shop at the Metropolitan Zoo, you areresponsible for managing the weekly payroll. Your assistantdeveloped a partial worksheet, but you need to enter the formulasto calculate the regular pay, overtime pay, gross pay, taxable pay,withholding tax, FICA, and net pay. In addition, you want toinclude total pay columns and calculate some basic statistics. Asyou construct formulas, make sure you use absolute and relativecell references correctly in formulas.

Steps to Perform:

Step	Instructions	Points Possible
1	Open the downloaded fileexploring_e02_grader_h2.xlsx.	0
2	Use IF functions to calculate the regular pay and overtime paybased on a regular 40-hour workweek in cells E5 and F5. Payovertime only for overtime hours. In cell G5, calculate the grosspay based on the regular and overtime pay. Abram’s regular pay is$398. With 8 overtime hours, Abram’s overtime pay is $119.40.	20
3	Create a formula in cell H5 to calculate the taxable pay.Multiply the number of dependents (column B) by the deduction perdependent (B24) and subtract that from the gross pay. With twodependents, Abram’s taxable pay is $417.40.	10
4	Use a VLOOKUP function in cell I5 to identify and calculate thefederal withholding tax. Use the tax rates from the range D21:E25.The VLOOKUP function returns the applicable tax rate, which youmust then multiply by the taxable pay.	20
5	Calculate FICA in cell J5 based on gross pay and the FICA rate(cell B23), and calculate the net pay in cell K5. Copy all formulasdown their respective columns to row 16.	10
6	With the range E5:K16 selected, use Quick Analysis tools tocalculate the total regular pay, overtime pay, gross pay, taxablepay, withholding tax, FICA, and net pay on row 17. Note, Mac users, with the range selected, on the Home tab, in theEditing group, click AutoSum.	10
7	Apply Accounting Number Format to the range C5:C16. ApplyAccounting Number Format to the first row of monetary data and tothe total row. Apply the Comma style to the monetary values for theother employees. Underline the last employee’s monetary values anduse the Format Cells dialog box to apply Top and Double Bottomborder for the totals.	5
8	Insert appropriate functions to calculate the average, highest,and lowest values in the Summary Statistics area (the rangeI21:K23) of the worksheet. Format the # of hours calculations asGeneral number format with one decimal and the remainingcalculations with Accounting number format.	15
9	Insert a footer with your name on the left side, the sheet namecode in the center, and the file name code on the right side of theworksheet.	5
10	Save and close the workbook. Submit the file as directed.	0