Ch_5_Final_Key - Name BUSINESS MATH USING EXCEL A 1 Date B C D E F G H I Federal Income Tax Social Security J K L M Medicare Medical Insurance Total

Ch_5_Final_Key - Name BUSINESS MATH USING EXCEL A 1 Date B...

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BUSINESS MATH USING EXCEL Name ______________________________ Date ______________________________ Chapter 05 - Test 01 CINDY’S CARD SHOP Payroll Register Hours Worked Earnings Deductions Name Allowances Worked Rate Regular Overtime Medicare 6.20% 1.45% Bates, N 2 46 8.25 330.00 74.25 404.25 17.00 25.06 5.86 12.50 60.43 343.82 Davis, B 1 43 6.85 274.00 30.83 304.83 12.00 18.90 4.42 12.50 47.82 257.01 Green, A 0 40 7.00 280.00 0.00 280.00 16.00 17.36 4.06 12.50 49.92 230.08 Directions: a. Enter formulas to calculate Regular Earnings. b. Enter formulas to calculate Overtime earnings. c. Enter formulas to calculate Gross Earnings. d. Use the wage bracket method for Federal Income Tax. Assume all employees are married. e. Enter formulas to calculate Social Security. f. Enter formulas to calculate Medicare. g. Enter $12.50 per week in Column K for Medical Insurance for each person. h. Enter formulas to calculate Total Deductions. i. Enter formulas to calculate Net Pay. Format all answers to Currency. Set Decimal places to 2. Set Currency symbol to None. Gross Earnings Federal Income Tax Social Security Medical Insurance Total Deducted Net Pay A B C D E F G H I J K L M 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
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  • Fall '18
  • Accounting, Income tax in the United States, gross earnings

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