Homework Answers
Base year:
SVOP= $ 20 million
Total wage Bill= $ 5 million
Total Wage bill/ SVOP= 25%
Period just ended:
SVOP= $ 15 million
Total wage Bill (Actual)= $ 4 million
Allowable Wage Bill= 25% of 15 million= $ 3.75 million
since actual wage is more than allowable wage, there is zero amount available for payout.
Period just beginning:
SVOP (forecasted)= $ 24 million
Total wage Bill (forecasted)= $ 5 million (1)
Allowable Wage Bill= 25% of 24 million= $ 6 million (2)
Savings= (2)-(1)= $1 million
Forecasted Amount available for payout= $ 1 million
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total (3 schedules).
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