03-05 Use the Excel IF function

This short lesson uses an Excel IF function to solve a complex business problem. Here's the real-world problem you'll solve using three IF functions. In solving the problem you'll learn all there is to know about the IF function. The payroll calculation you will apply the following business rules: • All hours up to 35 hours per week paid at hourly rate. • All hours over 35 hours per week paid at time and a half (150% of hourly rate). • Bonus of 5% paid for all sales above target. You'll create three IF functions that together will compute the correct weekly pay for any number of hours worked. As with all video lessons from The Smart Method®, there's a sample file download link at the beginning of the video to enable you to work along with the lesson. ⌚ Timestamps 0:00​ Sample file download instructions, download link, and discussion of sample file. 0:30 Explanation of the business rules that will be applied using the IF function. 0:53 Use an IF function to calculate standard rate pay (first 35 hours worked) 2:53 Audit the results shown on the worksheet to confirm that the IF function worked correctly. 3:30 Use another IF function to calculate overtime pay (pay for hours over 40 worked). 5:09 Audit the overtime pay to confirm that the IF function worked correctly. 5:33 Use another IF function to calculate bonus pay. 7:06 Audit the bonus payments to confirm that the IF function worked correctly. 7:27 Sum the three IF formula results to compute total pay for the week. 8:3 Link to next lesson, course session playlist and to download sample file set.