Question: Please mention the formulas. I did this excel sheet before by myself but my teacher told me my formulas were wrong please do mention the

Please mention the formulas. I did this excel sheet before by myself but my teacher told me my formulas were wrong please do mention the formulas for all

PAYROLL RECORDS JANUARY 2022
Figures inserted without the use of a formula will not be accepted!!
Employee Hours Overtime Hours Pay Rate (/hour) Gross Pay %Tax Rate Income Tax $
Daniyal Ahmed 40.00 5.00 $16.00
John Abhot 36.00 $12.00
Terry Burke 40.00 2.00 $15.00
Linda Carlson 22.00 $18.00
Krista Carter 25.00 $15.00
John Dole 39.00 $9.00
James Erickson 40.00 9.00 $12.00
Fred Gretchen 39.00 $20.00
Sally Hertz 13.00 $12.00
Melanie Jackson 35.00 $12.00
Peter Lorne 40.00 $12.00
Mike McDonald 19.00 $9.00
Lyle O'Toole 40.00 5.00 $15.00
Calculate Gross Pay for all employees (Column E). Overtime rate is 2.0 normal rate.
Calculate % tax rate, based on rate bracket, for each employee (Column F)
Calculate $ Income tax, for each employees (Column G)
Calculate Pay After Taxes, for all employees (Column H)
Calculate the total Gross Pay to employees (Field E22)
The average Pay After Taxes per employee is: Ans
The Max Pay After Taxes employee is: ANS
The Min Pay After Taxes employee is: ANS
Income tax rate brackets: <$500 25.00%
>=$500 30.00%

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