Task # Points Task Description 1 2 Enter the hours worked and pay rate for the employee paycheck calculations section of the model. Reference the appropriate cells in the "Employee Information" area of the spreadsheet model. 2 3 Calculate the regular pay. The regular pay will be the hours worked times the pay rate unless the employee works overtime (more than the # of regular hours in the pay period - described in the model assumptions). If they work overtime, the regular pay is the rate times the # of regular hours worked in the pay period. 3 3.5 Calculate the overtime pay. The employee is paid 1.5 times their regular pay rate for any time they work more than # of regular hours worked in the pay period. 4 2.5 Calculate total gross pay. The total gross pay is the sum of the regular pay and the overtime pay. 5 2.5 Calculate the insurance premium deduction by referencing the appropriate cell in the employee information section of the model. Notice the amount in this section is already calculated for each paycheck 6 2.5 Calculate the flexible spending deduction by referencing the appropriate cell in the employee information section of