Mid-Level Exercises
MyITLab - Metropolitan Zoo Gift Shop Weekly Payroll Grade Analysis
As the manager of the gift shop at the Metropolitan Zoo, you are responsible for managing the weekly payroll. Your assistant developed a partial worksheet, but you need to enter the formulas to calculate the regular pay, overtime pay, gross pay, taxable pay, withholding tax, PICA, and net pay. In addition, you want to include total pay columns and calculate some basic statistics. As you construct formulas, make sure you use absolute and relative cell references correctly in formulas.
Open the c02mPgrol workbook and save it as e02mPayroll_LastFirst.
Study the worksheet structure and read the business rules in the Notes section.
Use IF functions to calculate the regular pay and overtime pay based on a regular 40-hour workweek in cells ES and FS. Pay overtime only for overtime hours.
Calculate the gross pay based on the regular and overtime pay.
Abram's regular pay is $398. With 8 overtime hours, Abram's overtime pay is $119.40. Subtract the deduction per dependent and subtract that from the gross pay. With two dependents, Abram's taxable pay is $417.40.
Use a VLOOKUP function in cell 15 to identify and calculate the federal withholding tax. The VLOOKUP function returns the applicable tax rate, which you must then multiply by the taxable pay.
Calculate FICA in cell J5 based on gross pay and the FICA rate, and calculate the net pay in cell K5.
Copy all formulas.
Use Quick Analysis tools to calculate the total regular pay, withholding tax, FICA, and net pay on row 17.
Apply Accounting Number Format to the range C5:C16.
Apply Currency Number Format to the range D5:D16.
Use the Format Cells dialog box to apply Top and Double Bottom Borders to the range C5:K16.
Add a statistics area (the range C12:K23) and format the calculations as Number format with 2 decimal places for the totals.
Add a title on the left side.
Save and close the workbook.
Based on your instructor's directions, submit the e02hLoans2c workbook.