You work for the local construction firm devry engineering

Assignment Help Accounting Basics

Reference no: EM13392503

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:

• 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 your reasoning's on the approach your take based on what you have learned in this course.

Reference no: EM13392503

Questions Cloud

Describe your approach to setting up your worksheets and : you currently work for an automotive parts supply store. your company is growing and is considering expansion. the

Construct a scatter diagram showing the relationship : 1. an analyst has modeled the stock of crisp trucking using a two-factor apt model. the risk free rate of return is

Review the four management functions and find out which : management please respond to the followingmiddot review the four management functions and determine which represents

Provide a rationale for why your target market segmentation : choose an organization and a product in that organization you would like to analyze from a marketing perspective and

You work for the local construction firm devry engineering : you work for a local construction firm devry engineering group and your supervisor wants to test your knowledge and

If the expected rate of return rcirc is less than the : 1. calculate the dividend for year 15 if do is 2.50 and growth is 6. d15 3 pts.2. calculate the dividend for each

Pick an industry that is of interest to you what did you : pick an industry that is of interest to you. what did you identify as your indicator of potential market size? what

Financial performance measures are vitally significant to : business culture is the context in which the measures exist. they are bound to each other in terms of context and

Te company applies manufacturing overhead on the basis of : jobnbsp728 was recently completed. the following data have been recorded on its job cost sheetdirect

User Account

All Pages