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Magnolia Manufacturing |
Answer a |
If target profit is $ 5 million and actual profit is also $ 5 millions then there will be no bonus. So change in bonus will be the bonus amount paid due to increase in profit after implementing new technology. |
Implementing new technology will increase profit by 20%. |
The bonus is equal to 1 percent of the base salary for every 10 percent profit that exceeds a target. |
So if increase in profit is 20% then bonus is 2% |
Kevin | Michelle | |
Base Salary | 280,000.00 | 340,000.00 |
Bonus % | 2% | 2% |
Bonus Change | $ 5,600.00 | $ 6,800.00 |
Answer b | $ millions | |
Actual profit | 7.50 | |
Target profit | 5.00 | |
Increase in profit | 2.50 | |
Increase in profit % | 50.00% | |
Bonus % | 5% |
So current bonus is already 5%. The maximum bonus is 6 percent of salary so even if increase in profit is 20% then bonus will be only 1% because if 2% bonus is given then total will become (5%+2%=7%) which is not allowable. |
Kevin | Michelle | |
Base Salary | 280,000.00 | 340,000.00 |
Bonus % | 1% | 1% |
Bonus Change | $ 2,800.00 | $ 3,400.00 |
Magnolia Manufacturing makes wing components for large aircraft. Kevin Choi is the production manager, responsible for...
Magnolia Manufacturing makes wing components for large aircraft. Kevin Choi is the production manager, responsible for manufacturing, and Michelle Michaels is the marketing manager. Both managers are paid a flat salary and are eligible for a bonus. The bonus is equal to 1 percent of their base salary for every 10 percent profit that exceeds a target. The maximum bonus is 5 percent of salary. Kevin's base salary is $350,000 and Michelle's is $410,000. The target profit for this year...
Magnolia Manufacturing makes wing components for large aircraft. Kevin Choi is the production manager, responsible for manufacturing, and Michelle Michaels is the marketing manager. Both managers are paid a flat salary and are eligible for a bonus. The bonus is equal to 1 percent of their base salary for every 10 percent profit that exceeds a target. The maximum bonus is 6 percent of salary. Kevin's base salary is $380,000 and Michelle's is $440,000. The target profit for this year...
Magnolia Manufacturing makes wing components for large aircraft. Kevin Choi is the production manager, responsible for manufacturing, and Michelle Michaels is the marketing manager. Both managers are paid a flat salary and are eligible for a bonus. The bonus is equal to 1 percent of their base salary for every 10 percent profit that exceeds a target. The maximum bonus is 6 percent of salary. Kevin's base salary is $230,000 and Michelle's is $290,000. The target profit for this year...
Magnolia Manufacturing makes wing components for large aircraft. Kevin Choi is the production manager, responsible for manufacturing, and Michelle Michaels is the marketing manager. Both managers are paid a flat salary and are eligible for a bonus. The bonus is equal to 1 percent of their base salary for every 10 percent profit that exceeds a target. The maximum bonus is 5 percent of salary. Kevin's base salary is $270,000 and Michelle's is $330,000. The target profit for this year...
Magnolia Manufacturing makes wing components for large aircraft. Kevin Choi is the production manager, responsible for manufacturing, and Michelle Michaels is the marketing manager. Both managers are paid a flat salary and are eligible for a bonus. The bonus is equal to 1 percent of their base salary for every 10 percent profit that exceeds a target. The maximum bonus is 5 percent of salary. Kevin’s base salary is $360,000 and Michelle’s is $420,000. The target profit for this year...
Magnolia Manufacturing makes wing components for large aircraft. Kevin Choi is the production manager, responsible for manufacturing, and Michelle Michaels is the marketing manager. Both managers are paid a flat salary and are eligible for a bonus. The bonus is equal to 1 percent of their base salary for every 10 percent profit that exceeds a target. The maximum bonus is 5 percent of salary. Kevin’s base salary is $180,000 and Michelle’s is $240,000. The target profit for this year...
Magnolia Manufacturing makes wing components for large aircraft. Kevin Choi is the production manager, responsible for manufacturing, and Michelle Michaels is the marketing manager. Both managers are paid a flat salary and are eligible for a bonus. The bonus is equal to 1 percent of their base salary for every 10 percent profit that exceeds a target. The maximum bonus is 5 percent of salary. Kevin’s base salary is $200,000 and Michelle’s is $260,000. The target profit for this year...
Magnolia Manufacturing makes wing components for large alrcraft. Kevin Chol is the production manager, responsible for manufacturing, and Michelle Michaels is the marketing manager. Both managers are paid a flat salary and are eligible for a bonus. The bonus is equal to 1 percent of their base salary for every 10 percent profit that exceeds a target. The maximum bonus is 5 percent of salary. Kevin's base salary is $370,000 and Michelle's Is $430,000. The target profit for this year...
Magnolia Manufacturing makes wing components for large aircraft Kevin Chol is the production manager, responsible for manufacturing, and Michelle Michaels is the marketing manager Both managers are paid a flat salary and are eligible for a bonus. The bonus is equal to 1 percent of their base salary for every 10 percent profit that exceeds a target. The maximum bonus is 6 percent of salary Kevins base salary is $230,000 and Michelle's is $290,000 The target profit for this year...
Item1 1 points Item Skipped eBookPrintReferences Check my work Check My Work button is now enabledItem 1Item 1 1 points Item Skipped Magnolia Manufacturing makes wing components for large aircraft. Kevin Choi is the production manager, responsible for manufacturing, and Michelle Michaels is the marketing manager. Both managers are paid a flat salary and are eligible for a bonus. The bonus is equal to 1 percent of their base salary for every 10 percent profit that exceeds a target. The...