Purchase Solution

Payroll and Depreciation : Construction of an Excel Spreadsheet

Not what you're looking for?

Ask Custom Question

The purpose of this project is to construct an Excel file that can be used as a time card and calculate an employee's payroll calculations.

1. Create a time card for your employee for one week of work that shows the date, time in and time out. Assume the employee will take a 1 hour lunch break daily. Ensure the employee works some overtime and weekend hours.

2. Compute the total regular hours, overtime hours and double time (Sundays) for the employee.

3. Assume the employee gets paid $15 per hour for regular hours, time and half for overtime hours (assume over 40 hours) and double time for Sundays.Compute the employees regular pay, overtime pay, double-time pay and gross pay.

4. The employee is married with 2 deductions and is paid weekly. Find the federal withholding taxes using the percentage method.

5. Calculate the total deductions for Social Security, Medicare, FUTA and SUTA taxes that the employer pays on the employee's behalf.

6. Be sure to use formulas whenever possible in your Excel spreadsheet so that for example the hourly rate could be modified and the entire spreadsheet would update all calculations.

Purchase this Solution

Solution Preview

Ok. There are two excel files needed: one for Timecard, the other one is for ...

Purchase this Solution


Free BrainMass Quizzes
Introduction to Finance

This quiz test introductory finance topics.

Income Streams

In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.

Team Development Strategies

This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.

Learning Lean

This quiz will help you understand the basic concepts of Lean.

Social Media: Pinterest

This quiz introduces basic concepts of Pinterest social media