In: Operations Management
W/E | Emp# | EmpName | # hours | Pay/Hour | Gross Pay | M/S | #dep | Tax Pay | Tax | Net |
4/11/18 | 11 | John | 20 | |||||||
4/11/18 | 14 | Mary | 50 | |||||||
4/11/18 | 19 | Nancy | 30 | |||||||
4/11/18 | 22 | Sam | 10 | |||||||
4/11/18 | 25 | Carol | 60 | |||||||
4/18/18 | 11 | John | 60 | |||||||
4/18/18 | 14 | Mary | 40 | |||||||
4/18/18 | 19 | Nancy | 25 | |||||||
4/18/18 | 22 | Sam | 45 | |||||||
4/18/18 | 25 | Carol | 42 | |||||||
4/18/18 | 18 | Wally | 32 | |||||||
Emp# | Pay/Hour | M/S | #dep | |||||||
11 | 20 | M | 1 | Submit the excel sheet to me. No excel formula - no credit. | ||||||
12 | 30 | S | 3 | |||||||
18 | 20 | S | 5 | |||||||
19 | 30 | M | 2 | |||||||
22 | 40 | M | 4 | |||||||
23 | 30 | S | 6 | |||||||
25 | 20 | M | 2 | |||||||
step1: write a vlookup to fill in column D - if an employee is not in the table, do not get N/A (hint: iferror) | ||||||||||
step2: compute gross pay column E | ||||||||||
if an employee works under 40 hours, it is # of hours time hourly rate | ||||||||||
if an emplyee works more than 40 hours, the number of hours over 40 are paid 1.5 times the hourly rate | ||||||||||
example: X works 60 hours. X get 16/hour. X get 40 times 16 plus 20 times 24. | ||||||||||
step3: write a vlookup to fill in column F - if an employee is not in the table, do not get N/A (hint: iferror) | ||||||||||
step4: write a vlookup to fill in column G - if an employee is not in the table, do not get N/A (hint: iferror) | ||||||||||
step5: | compute column H Tax Pay | |||||||||
multiply the # of dependents (column G) by 10 and subtract that from gross pay | ||||||||||
if column F is single - subtract 20 more | ||||||||||
if column F is married - subtract 50 more | ||||||||||
example: column E is 1200, 3 dependents, married -- tax pay is 1200 minus 3 times 10 minus 50 | ||||||||||
example: column E is 700, 2 dependents, single -- tax pay is 700 minus 2 times 10 minus 20 | ||||||||||
step6: compute the tax | ||||||||||
if tax pay < 500, no tax | ||||||||||
if tax pay < 1000, 5% of tax pay over 500 | ||||||||||
else tax is 25 plus 10% of the tax pay over 1000 | ||||||||||
example: tax pay 350 no tax | ||||||||||
example: tax pay 650 no tax on first 500 -- 5% on (650 minus 500) -- 5% of 150 -- 7.50 | ||||||||||
example: tax pay 1200 tax is 250 plus 10% of (122 minus 1000) | ||||||||||
step7: net pay is tax gross pay minus tax |
To show the formula used for each step i will first show the formula used in respective column and then show the final answer to the problem.
Step 1:
Step2:
Step 3:
Step 4:
Step 5:
Step6:
Step 7:
Final Answer:
The formulas shown in the above steps are broken into different images to make it readable and clear. These formulas are entered in the respective cells as shown in the final answer. While entering this data into excel keep in mind that your data is entered in exactly the same cells as shown in the image above to get the right answer.
Also, in place of "No Info" you can enter any text as you desire. Just change the same in the formula to get the required text.