PROJECT: USING ADVANCED FORMULAS
Suppose you own a small business with ten employees. Small businesses use spreadsheets for a variety of reasons.

OBJECTIVES
Create a spreadsheet to track payroll.
Directions
Create a spreadsheet to calculate the your company's payroll, or how much you pay each employee and the total you pay all employees.

You pay your employees every two weeks, and for the last two weeks, your employees worked the following hours:

Employee 1: 78
Employee 2: 75
Employee 3: 80
Employee 4: 45
Employee 5: 50
Employee 6: 80
Employee 7: 65
Employee 8: 60
Employee 9: 78
Employee 10: 75
Your spreadsheet should calculate:

the total hours worked for each employee
the gross pay for each employee (pay rate is $12.50 per hour)
the state income tax for each employee (use 5.7%)
the Federal income tax for each employee (use 15%)
Social Security for each employee (use 3.5%)
the net pay for each employee by subtracting the income tax and Social Security from the gross pay
the total gross pay, total state income tax, total Federal income tax, total Social Security, and total net pay paid to all employees
When you finish your spreadsheet, estimate your answers to check for accuracy. Make any necessary corrections. Use formatting techniques to make your spreadsheet easy to read. Upload your spreadsheet using the Upload tool in the box below.

Answer:

Total hours worked for two weeks by all employees = 686 hours

Total Gross pay of all employees = $8,575.00

Total State income tax of all employees = $488.78

Total Federal income tax of all employees = $1,286.25

Total Social Security of all employees = $300.13

Total Net Pay of all employees = $6,499.85

Explanation:

Note: See the attached excel file for the calculation of the company's payroll or amount paid to each employee and the total amount paid to all employees on a spreadsheet as required by the question.

In the attached excel file, the following formula are used:

Gross pay for each employee = Pay rate of $12.50 per hour * Total hours worked for two weeks by each employee

State income tax for each employee = 5.7% * Gross pay for each employee

Federal income tax for each employee = 15% * Gross pay for each employee

Social Security for each employee = 3.5% * Gross pay for each employee

Answer:

here you go edmentum

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