How to calculate the value of checked box?

I have table which contain following data structure,

#table

ID    payroll_cat_name payroll_cat_code category_type   amount
1     Provident Fund    PF               dedution        1000
2     Basic Pay         BC               earning         35000
3     Travelling        TA               earning         6500
4     Home Allowance    HM               earning         12000
5     Tax               TX               dedution        500

I am fetching this all data with this code below,

 <?php
 include "../db.php";
$select_payroll_category = "SELECT * from payroll_category";
$employee_payroll_result = mysqli_query($con,$select_payroll_category);
?>
<table>
    <thead style="color: #222426;">
        <tr>
            <th>
                <div class="form-check">
                    <input type="checkbox" class="form-check-input checkAll">
                    <label class="form-check-label">ID</label>
                </div>
            </th>
            <th>Category name</th>
            <th>Category code</th>
            <th>Category Type</th>
            <th>Category Amount</th>
            <th>Action</th>
        </tr>
    </thead>
    <tbody>
        <?php
        while ($row = mysqli_fetch_array($employee_payroll_result)) {
            echo "<tr style='color:#222426;'>
                    <td>
                    <div class='form-check'>
                    <input type='checkbox' name='payroll_group' value=".$row["amount"]."class='form-check-input'>
                    <label class='form-check-label' style='color:#fff;'>".$row["payroll_cat_id"]."</label>
                    </div>
                    </td>
                    <td>".$row["payroll_cat_name"]."</td>
                    <td>".$row["payroll_cat_code"]."</td>
                    <td>".$row["category_type"]."</td>
                    <td>".$row["amount"]."</td>
                    
                  </tr>";
                    }
                    ?>
                        
                    </tbody>
                </table>
                <button id="button">save</button>
                <p id="result"></p>

Now On buttonclick I want to calculate the amount based on category_type,

If the category is earning then it will add the amount ,

And if the category is dedution then it will subtract the amount,

Using jquery, I want to perform this

Following is my jquery code which I have tried,

        $(document).ready(function(){
              $("#button").click(function(){
            var favorite = [];
           $.each($("input[name='payroll_group']:checked"), function(){
                favorite.push($(this).val());
            });
           var total = 
            console.log("My favourite sports are: " + favorite);
            $('#result').html(favorite);

        }); 
        })
    </script>

By using this code I m getting 1000,35000,6500 the value of amount Which I have ticked in checkbox