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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
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: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
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.
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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