function . Refer to cells B21 and B22 that contain those values .
4 Create a formula in cell G5 to calculate the gross pay
6.000 based on the regular and overtime pay for the first employee .
5 Create a formula in cell H5 to calculate the taxable pay .
6.000
Multiply the number of dependents by the deduction per dependent ( stored in cell B24 ), and then subtract that from the gross pay . Use relative and absolute cell references appropriately .
6 Use a VLOOKUP function in cell I5 to identify and
10.000 calculate the federal withholding tax . The function looks up the employee ’ s taxable pay , compares it to the table stored in the range D21 : E25 , and returns the appropriate tax rate from the second column of the lookup table . Then multiply the function results by the taxable pay . Use relative and absolute cell references appropriately .