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Sunrise Credit Union: Name No. of Dependents Hourly Wage Hours Worked

The document shows payroll information for 12 employees of the Sunrise Credit Union Norfolk Branch including their name, dependents, hourly wage, hours worked, overtime pay if applicable, gross pay, taxable pay, federal tax withholding, and FICA taxes. It provides calculations for regular pay, overtime pay, gross pay, taxable pay, federal tax withholding using tax tables, and FICA taxes. The bottom section includes summary statistics on average hours worked, highest and lowest gross pay and net pay.

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30 views

Sunrise Credit Union: Name No. of Dependents Hourly Wage Hours Worked

The document shows payroll information for 12 employees of the Sunrise Credit Union Norfolk Branch including their name, dependents, hourly wage, hours worked, overtime pay if applicable, gross pay, taxable pay, federal tax withholding, and FICA taxes. It provides calculations for regular pay, overtime pay, gross pay, taxable pay, federal tax withholding using tax tables, and FICA taxes. The bottom section includes summary statistics on average hours worked, highest and lowest gross pay and net pay.

Uploaded by

anzar
Copyright
© © All Rights Reserved
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Sunrise Credit Union

Norfolk Branch

No. of Hourly Hours Overtime Federal


Name Dependents Wage Worked Regular Pay Pay Gross Pay Taxable Pay Withholding Tax FICA

Abram 2 $9.95 48 $398.00 $119.40 $517.40 $417.40 $104.35 $39.58


Acosta 1 $9.55 48 $382.00 $114.60 $496.60 $446.60 $111.65 $37.99
Bordeaux 3 $11.75 50 $470.00 $176.25 $646.25 $496.25 $138.95 $49.44
Higinbotham 1 $11.75 35 $411.25 $0.00 $411.25 $361.25 $90.31 $31.46
Ianziti 1 $10.00 40 $400.00 $0.00 $400.00 $350.00 $87.50 $30.60
Jaussi 1 $9.55 44 $382.00 $57.30 $439.30 $389.30 $97.33 $33.61
Ling 3 $15.75 40 $630.00 $0.00 $630.00 $480.00 $134.40 $48.20
Munoz 2 $12.25 20 $245.00 $0.00 $245.00 $145.00 $21.75 $18.74
Riley 3 $13.35 38 $507.30 $0.00 $507.30 $357.30 $89.33 $38.81
Sabey 2 $10.00 45 $400.00 $75.00 $475.00 $375.00 $93.75 $36.34
Trujillo 1 $9.95 15 $149.25 $0.00 $149.25 $99.25 $14.89 $11.42
Weston 2 $11.75 41 $470.00 $17.63 $487.63 $387.63 $96.91 $37.30

Notes

1. The base workweek is 40 hours. Regular pay is based on hourly wage and hours worked up to 40.
2. Overtime pay is based on overtime hours, the hourly wage, and the overtime rate.
3. The gross pay is the total of the regular pay and overtime pay.
4. The taxable pay is the difference between the gross pay and the product of the number of dependents and deduction per dependent.
5. Federal withholding tax is calculated on the taxable pay based on the tax table.
6. FICA is calculated on the employee's gross pay.
7. The net pay is based on the difference of gross pay with FICA, and the product of taxable pay and federal withholding tax.
Union [10]

Net Pay Assumptions

$373.47 Base Work Hours 40 0.25


$346.96 Overtime rate 1.5 0.25
$457.86 FICA rate 7.65% 0.25
$289.48 Deduct per Depend $50.00 0.25
$281.90 IF(D5>40,(D5-40)*C5*$N$6,0) 0.25
$308.37 IF(D5<=40,C5*D5,C5*40) 0.25
$447.41 Taxable Pay Tax Rate 0.25
$204.51 $0 15% 0.25
$379.17 $250 22% 0.25
$344.91 $300 25% 0.25
$122.94 $450 28% 0.25
$353.42 $525 31% 0.25
G5-(B5*$N$8)
VLOOKUP(H5,$M$12:$N$16,2,TRUE)
Summary # of Hours Gross Pay Net Pay
Statistics
Average 38.67 $450.41 $325.87
Highest 50 $646.25 $457.86
Lowest 15 $149.25 $122.94

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