Looking for help w Excel formula

[RazzelDazel]

I know nothing about payroll but have been "gifted" the task at work of calculating severance pay for a client - lucky me. Here is the instructions on how to calculate it, which I get...but my issue is how to I make an Excel formula for this so all I have to do is drop in the employee info, start/end dates, weekly pay, etc. & it will calculate it?

Instructions/directions:

Calculating severance pay​

Example: A regular work week​

Susan regularly works 40 hours a week and is paid $25.00 an hour. Her employer has a payroll of more than $2.5 million. Her employer gives Susan seven weeks' notice of termination, and Susan works for the notice period. At the end of the notice period, Susan's employment is severed. On that date, Susan has been employed for seven years, nine months and two weeks.

Here's how to calculate Susan's severance pay entitlement.

1. Calculate Susan's regular wages for a regular work week.
   Susan usually works 40 hours a week × $25.00 = $1,000.00
2. Number of Susan's completed years = 7
3. Divide the number of complete months Susan was employed in the incomplete year by 12.
   Susan worked 9 complete months ÷ 12 = 0.75
4. Add the number arrived at in Step 2 (7) to the number arrived at in Step 3 (0.75),
   7 + 0.75 = 7.75
5. Multiply Susan's regular wages for a regular work week ($1,000.00) by the number arrived at in Step 4 (7.75).
   $1,000.00 × 7.75 = $7,750.00.

Result: Susan is entitled to $7,750.00 in severance pay.

 

[Dave Patton]

Is this a school assignment?
What part of the assignment do you need help with?
What is the actual term that Susan worked?
Did you consider the function Datedif or Yearfrac?

 

[Dave Patton]

T202411a.xlsm
	A	B	C	D	E	F
1		Regular Hrs	Rate	Start	End	Amount
2	Susan	40	$25.00	1-Jan-17	15-Oct-24	$7,750.00
3
1a

Cell Formulas
Range	Formula
F2	F2	=DATEDIF(D2,E2,"m")/12*B2*C2