Question

Hello I was wondering if you could give me the formula that I need to put in cell F4. The hint is down at the bottom right beside social security tax deduction. It gives a hint of how to put the formula together but I am so confused. The answer should come out to be $3,382 in cell F4 if done correctly. Thanks for your help!F4 Federal Medicare Soc Sec Tax Std. Deduction for each dependent: up to Max Salary: 1.45%-Up to Max Salary: eName Department #Dependents Salary Net Pay Federal Income Tax Rate Social Security Tax Rate: Medicare Tax Rate: 25% 6.20% S4,000 $118,500 $200,000 54,550 $9,637.50 26,795$6,698.75 $142,540 $31,635.00 72,830$10,207.50 $60,830$15,207.50 $66,580$12,645.00 75,150$14,787.50 30,780$3,695.00 $49,350$12,337.50 79,760$15,940.00 274,840 $60,710.00 29,0707,267.50 Sales torSales 6 nathan Administration 7 ry Sales 0 1. In E4, enter the formula to calculate Federal Tax for Lisa Page. 9 oydMarketing 10 fank Training 11 hothy Sales 12 13 sseMarketing 14 hiel 15 onald Traing 16 17 Hints: 18 19 3. In F4, enter the formula to calculate Social Sec. Tax for Lisa Page. 4. Copy the formula in F4 down to F15 5. In G4, enter the formula to calculate Medicare Tax for Lisa Page. 6. Copy the formula in G4 down to G15. 7. In H4, enter the formula to calculate Net Pay for Lisa Page 8. Copy the formula in H4 down to H15. Training Administration Fed Tax Deduction: (Salary * Federal Tax Rate) minus (# dependents * dependent deduction) Social Security Tax Deduction: if (Salary<SS Maximum Salary, then SS tax- Salary* SS Tax Rate, otherwise SS tax SS Maximum Salary * .SS Tax Rate) Medicare Deduction: if (Salary< Medi Maximum Salary, then Medi Tax- Salary*Medi Tax Rate, otherwise Medi Tax - Medi Maximum Salary Medi Tax Rate) Instructions ulasCopyFormulas YTD and Pct Increase @ Absolute IF function CalcNetPay

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54,550 3,382 6.20% 118,50054550 0.062 118500

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