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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