Ch 11 Calculating Payroll with Excel.xls - Inputs Hours...

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Inputs M. Todd J. Kress V. Johns Hours worked stright-time 40 40 40 Hours worked overtime 6 12 0 Hourly rate $ 24.00 $ 30.00 $ 16.50 Overtime rate $ 48.00 $ 45.00 $ 24.75 Overtime premium 200% 150% 150% Weekly withholding $ 218.42 $ 278.32 $ 186.45 Earnings prior to payroll period $ 68,915 $ 71,725 $ 32,710 Retirement savings $ 60.00 $ 150.00 $ 50.00 Social security rate 6.0% Medicare rate 1.5% Outputs M. Todd J. Kress V. Johns Gross earnings for the week $ 1,248.00 Deductions: Social security tax $ 74.88 $ - $ - Medicare tax 18.72 - - Federal income tax withholding $ 218.42 $ 278.32 $ 186.45 Retirement savings $ 60.00 $ 150.00 $ 50.00 Total deductions $ 372.02 $ 428.32 $ 236.45 Net pay $ 875.98
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  • Fall '15
  • amandaNielsen

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