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 1^st - March 31^st.

Project Support Team
Employee Name	Grade	Position	Status	Salary	Performance rating	PPM%	CM%	Total %	Bonus	TOTAL Variable Pay
Dan Davis	5	Sr Finance Analyst	F/T	$52,000.00	S
Rupinder Khan	6	Manager	F/T	$71,000.00	VS
Jeff Stockton	2	Co-ordinator	F/T	$32,000.00	D
TOTAL

Fiscal year April - March
Performance Ratings & Merit Pay %
E	Exceptional	6%
VS	Very Strong	4%
S	Standard	3%
D	Developing	1%
U	Unsatisfactory	0%
Company Multiplier		1.50%