Question: Calculate the Variable Pay amount for this department. (5 marks) Variable pay is based on PPM (Personal Performance Multiplier) and CM (Corporate Multiplier). Any employees
Calculate the Variable Pay amount for this department. (5 marks)
Variable pay is based on PPM (Personal Performance Multiplier) and CM (Corporate Multiplier).
Any employees rated E or VS also receive a $2000 bonus.
Assume today is April 1, 2023. Fiscal year is April 1st March 31st.
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| Employee Name | Grade | Position | Status | Salary | Performance rating | PPM% | CM% | Total % | Bonus | TOTAL Variable Pay |
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| Dan Davis | 5 | Sr Finance Analyst | F/T | $52,000.00 | S |
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| Rupinder Khan | 6 | Manager | F/T | $71,000.00 | VS |
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| Jeff Stockton | 2 | Co-ordinator | F/T | $32,000.00 | D |
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| TOTAL |
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| Fiscal year April March |
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| Performance Ratings & Merit Pay %
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| E | Exceptional | 6% |
| VS | Very Strong | 4% |
| S | Standard | 3% |
| D | Developing | 1% |
| U | Unsatisfactory | 0% |
| Company Multiplier |
| 1.50% |
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