using an excel spreadsheet solve the following problem Problem 3 Using the infor
ID: 2587007 • Letter: U
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using an excel spreadsheet solve the following problem
Problem 3 Using the information provided, prepare a salary budget for FYx3 (7n/X2to 6/30/X3). Volume in the budget year will be 3,000 units of service, and staff needs are for five hours of hands-on work per unit of service. Productive time is 85 percent of total paid time. For purposes of this solution, the assumption is that staff can be hired only in half FTE increments. A pay raise will be given to all staff (and to the starting rate of pay) on June 1 and December 1 of each year at a rate of 6 percent. The following are the current staff with FTE values and hourly rates of pay as of March 8, 19X2:Explanation / Answer
SALARY BUDGET FOR FYX3 (7/1/X2 TO 6/30/X3) Particulars Critz Zeri Goel Taft Freeman A Annual Work Hours 2550.00 2550.00 2550.00 2550.00 2550.00 B Normal Rate upto 11/30/X2 14.50 33.75 15.00 27.50 24.33 C Proportionate Untis Upto 12/1/X2 1062.50 1062.50 1062.50 1062.50 1062.50 D Salary upto 12/1/X2 15406.25 35859.38 15937.50 29218.75 25854.17 E Incremnet from 12/1/X2 @ 6% 15.37 35.78 15.90 29.15 25.79 F Proportionate Untis upto 6/1/X2 1275.00 1275.00 1275.00 1275.00 1275.00 G Salary Upto 6/1/X3 19596.75 45613.13 20272.50 37166.25 32886.50 H Proportionate units for the month of 6/1/X3 212.50 212.50 212.50 212.50 212.50 I Increment From 6/1/X3 @ 6% 16.29 37.92 16.85 30.90 27.34 J Salary For the month of 6/1/X3 3462.09 8058.32 3581.48 6566.04 5809.95 K Total Salary (D+G+J) 38465.09 89530.82 39791.48 72951.04 64550.62 Notes:- Volume in Budget Year- 3000 units 5 hours of hand per unit i.e for 3000 units number of work hours = 3000*5 = 15000 Work Hours out of 15000 production time is 85% (15000*85%) = 12750 12750 hours for 5 members which is 12750/5=2550 per worker
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