A B D K. M N P R Using Excel to Calculate Payroll Amounts PROBLEM Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area or work area as appropriate. Use the SUM function to add any Betsy Strand's payroll information is provided here. Regular hourly wage rate Hourly rate for work in excess of 40 hours Hours worked during a January pay period Federal income tax withholding FICA tax rate 24 24 16.00 necessary amounts. 24.00 47 2$ 95.00 Compute Betsy Strand's gross earnings and net pay for the pay period. 7.65% Betsy has no voluntary deductions. Gross earnings: Regular pay 2$ 640.00 Overtime pay Total gross earnings 168.00 808.00 2$ Gross earnings $ 808.00 Incorrect FICA taxes withheld 61.8 Score: 0.0 out of 0.166 Feedback: Use a mathematical formula with a cell reference to the Problem area for the FICA tax rate multiplied by the gross earnings you calculated in this work area. Instruction: 16.6% of your score. Formula: Multiply; Cell reference. Input a mathematical formula with a cell reference to the Problem area and a cell reference to this work area. Hint: Multiply the FICA tax rate times the total gross Federal income taxes withheld 95.00 Net pay 651.19
A B D K. M N P R Using Excel to Calculate Payroll Amounts PROBLEM Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area or work area as appropriate. Use the SUM function to add any Betsy Strand's payroll information is provided here. Regular hourly wage rate Hourly rate for work in excess of 40 hours Hours worked during a January pay period Federal income tax withholding FICA tax rate 24 24 16.00 necessary amounts. 24.00 47 2$ 95.00 Compute Betsy Strand's gross earnings and net pay for the pay period. 7.65% Betsy has no voluntary deductions. Gross earnings: Regular pay 2$ 640.00 Overtime pay Total gross earnings 168.00 808.00 2$ Gross earnings $ 808.00 Incorrect FICA taxes withheld 61.8 Score: 0.0 out of 0.166 Feedback: Use a mathematical formula with a cell reference to the Problem area for the FICA tax rate multiplied by the gross earnings you calculated in this work area. Instruction: 16.6% of your score. Formula: Multiply; Cell reference. Input a mathematical formula with a cell reference to the Problem area and a cell reference to this work area. Hint: Multiply the FICA tax rate times the total gross Federal income taxes withheld 95.00 Net pay 651.19
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please see below. Need help with this asap please and thank you. Note that I need help with the answers in the red boxes that I got wrong. I believe the answer is correct, but I think the mathematical formula is incorrect.
Transcribed Image Text:K20
V fx =K17*E11
A B
D
K
N
P
R
2
3 Using Excel to Calculate Payroll Amounts
PROBLEM
Student Work Area
4
Required: Provide input into cells shaded in yellow in this template.
Use mathematical formulas with cell references to the Problem area
or work area as appropriate. Use the SUM function to add any
necessary amounts.
5 Betsy Strand's payroll information is provided here.
6.
Regular hourly wage rate
%24
%24
7
16.00
Hourly rate for work in excess of 40 hours
Hours worked during a January pay period
Federal income tax withholding
FICA tax rate
24.00
9
47
%24
95.00
Compute Betsy Strand's gross earnings and net pay for the pay
period
10
11
7.65%
12
13 Betsy has no voluntary deductions.
Gross earnings:
Regular pay
14
640.00
15
Overtime pay
Total gross earnings
16
168.00
17
808.00
18
19
Gross earnings
$
808.00
Incorrect
20
FICA taxes withheld
61.8N
Score: 0.0 out of 0.166
21
Feedback: Use a mathematical formula with a cell reference to the Problem area
Federal income taxes withheld
95.00
for the FICA tax rate multiplied by the gross earnings you calculated in this work
area.
Instruction: 16.6% of your score.
Formula: Multiply; Cell reference.
Input a mathematical formula with a cell reference to the Problem area and a cell
reference to this work area. Hint: Multiply the FICA tax rate times the total gross
22
23
Net pay
651.19
24
25
26
27
Transcribed Image Text:K24
fx =K17-K20-K22
A B
D
H.
K
M
2.
3 Using Excel to Calculate Payroll Amounts
PROBLEM
Student Work Area
Required: Provide input into cells shaded in yellow in this template.
5 Betsy Strand's payroll information is provided here.
Use mathematical formulas with cell references to the Problem area
or work area as appropriate. Use the SUM function to add any
necessary amounts.
Regular hourly wage rate
Hourly rate for work in excess of 40 hours
Hours worked during a January pay period
Federal income tax withholding
7
%24
16.00
$4
24.00
9
47
Compute Betsy Strand's gross earnings and net pay for the pay
period.
10
95.00
11
FICA tax rate
7.65%
12
13 Betsy has no voluntary deductions.
Gross earnings:
Regular pay
14
640.00
15
168.00
Overtime pay
Total gross earnings
16
17
808.00
18
19
Gross earnings
2$
808.00
20
FICA taxes withheld
61.81
21
22
Federal income taxes withheld
95.00
23
Incorrect
Score: 0.0 out of 0.166
Feedback: Use a mathematical formula with a cell reference to amounts you
calculated in this work area to determine net pay.
Instruction: 16.6% of your score.
Formula: Subtract; Cell reference.
Input a mathematical formula with cell references to your calculations in this work
24
Net pay
+ 651.19
25
26
27
28
29
30
area.
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