Answer:
Total hours worked for two weeks by all employees = 686 hours
Total Gross pay of all employees = $8,575.00
Total State income tax of all employees = $488.78
Total Federal income tax of all employees = $1,286.25
Total Social Security of all employees = $300.13
Total Net Pay of all employees = $6,499.85
Explanation:
Note: See the attached excel file for the calculation of the company's payroll or amount paid to each employee and the total amount paid to all employees on a spreadsheet as required by the question.
In the attached excel file, the following formula are used:
Gross pay for each employee = Pay rate of $12.50 per hour * Total hours worked for two weeks by each employee
State income tax for each employee = 5.7% * Gross pay for each employee
Federal income tax for each employee = 15% * Gross pay for each employee
Social Security for each employee = 3.5% * Gross pay for each employee
