Question
1.1.(TCO
1) You work for a local construction firm, “DeVry Engineering
Group” and your supervisor wants to test your knowledge and skills
with Microsoft Excel and has instructed you to develop a spreadsheet to calculate
weekly payroll for “15” employees with the following assumptions:
Note: This is a one part question.
• Each employee could have a standard hourly rate between $10.00 and
$30.00 per hour.
• Each employee qualifies to earn overtime at a rate of 1.5 of his or
her hourly rate for every hour greater than 40 hours.
• Each employee will have a standard 7.65% deduction for social
security
• Each employee will have a standard 14.00% deduction for Federal
Taxes
• Each employee will have a standard 5.33% deduction for State Taxes
Explain
how you will structure and format your worksheet, including titles, column
headings, and formulas to calculate payroll variables for each employee to
determine “Net Pay” including and not limited to Total Hours,
Gross Pay, Social Security Tax, Federal Withholding Tax, and Sate
Withholding Tax. In addition, determine how you would extract
overtime hours from a calculated value of “Total Hours” using a
conditional formula.
In addition, your supervisor will need this weekly payroll report on a
weekly basis and instructed you to keep the payroll history of all weeks
within “1” workbook but has allowed you to decide if you would
rather keep the payroll running on one worksheet or by assigning a new
worksheet for each week. Using your knowledge learned in this class,
descriptively explain whether you would keep all weekly payrolls in one
worksheet or assigned to new worksheets by week. Defend the approach
you take based on what you have learned in this course.
(Points : 40)
