Question: Need help calculating net pay (K5) and with Insert appropriate functions to calculate the average, highest, and lowest values in the Summary Statistics area (the

Need help calculating net pay (K5) and with

Insert appropriate functions to calculate the average, highest, and lowest values in the Summary Statistics area (the range I21:K23) of the worksheet. Format the # of hours calculations as Number format with one decimal and the remaining calculations with Accounting number format.

Need help calculating net pay (K5) and with Insert appropriate functions to

1. The base workweek is 40 hours. Regular pay is based on houny wage and hours worked up to 40 . 2. Overtime pay is based on overtime hours, the hounly wage, and the overtime rate. 3. The gross pay is the total of the regular pay and overtime pay. 4. The taxable pay is the difference between the gross pay and the product of the number of dependents and deduction per dependent. Federal withholdhig tex is calculated on the taxable pay based on the tax table. 5. FICA is calculated on the employee's gross pay. 7. The net pay is based on the gross pay, federal withholding tax, and FICA

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