Fred S.

asked • 01/31/17

Formula needed for working coop

I need to calculate differential financial bonuses in our working coop, and to have a spreadsheet formula that will calculate the individual members’ bonuses based on known variables.

Bonuses are allocated proportionally, based on whether a member worked full time (100%) or part time. This is expressed as a percentage in the excel spreadsheet.

In addition we have three levels of membership.
Level 1: basic bonus
Level 2: 3 times the basic bonus
Level 3: 5 times the basic bonus

This if member ‘A’ works half time (50%) and is a level 2 member, then she will receive half of the basic bonus times 3.

I need a formula for this, assuming the following is known:
- the total bonus amount to be shared -
the percentage of time a member has worked
- the level of membership

Can you help?

1 Expert Answer

By:

Kenneth S. answered • 01/31/17

Tutor
4.8 (62)

Expert Help in Algebra/Trig/(Pre)calculus to Guarantee Success in 2018

Fred S.

Not quite Kenneth. It's a relatively simple algebra problem. No custom software needed. I posted this on several fora, and a 16-year old high school student solved it rather quickly. 
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01/31/17

Kenneth S.

Good for you.  I especially like the plural of forum--nice touch.
 
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01/31/17

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