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Operations Management
- Total Compensatión Package per efmpioy Wages are 60% of package Benefits are 40% of package Legally Required Benefits are 20% of total beñefits · Employees for this company in Illinois have the $50/hour pay package. In California, the package is valued at $65. • There are a total of 200 employees in this company. Raise categories along with amounts to be granted to base salaries follow: Below Expected Performance $75 Expected Performance $300 Above Expected Performance $450 • The midpoint in salary range for the 200 employees (all same job class) is $32,000. (LIST THE NUMBER OF THE QUESTIONS BELOW AND SHOW YOUR COMPLETE CALCULATIONS NEXT TO THE NUMBER.) 1-What is the total cost of legally required benefits per employee in Illinois? 2-What is the relative difference in pay packages between the two states? 3-lf the raise categories for the employees were as follows, what is the total dollar amount of raises granted this year? SHOW ALL WORK! Below Expected Performance 5% Expected Performance 85% Above Expected Performance 10% 4-lf the range spread from midpoint is 12%, what is the minimum and the maximum pay?

- Total Compensatión Package per efmpioy Wages are 60% of package Benefits are 40% of package Legally Required Benefits are 20% of total beñefits · Employees for this company in Illinois have the $50/hour pay package. In California, the package is valued at $65. • There are a total of 200 employees in this company. Raise categories along with amounts to be granted to base salaries follow: Below Expected Performance $75 Expected Performance $300 Above Expected Performance $450 • The midpoint in salary range for the 200 employees (all same job class) is $32,000. (LIST THE NUMBER OF THE QUESTIONS BELOW AND SHOW YOUR COMPLETE CALCULATIONS NEXT TO THE NUMBER.) 1-What is the total cost of legally required benefits per employee in Illinois? 2-What is the relative difference in pay packages between the two states? 3-lf the raise categories for the employees were as follows, what is the total dollar amount of raises granted this year? SHOW ALL WORK! Below Expected Performance 5% Expected Performance 85% Above Expected Performance 10% 4-lf the range spread from midpoint is 12%, what is the minimum and the maximum pay?

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Total Compensation Package per employee = $50/hour Wages are 60% of package Benefits are 40% of package Legally Required Benefits are 20% of total benefits • Employees for this company in Illinois have the $50/hour pay package. In California, the package is valued at $65. • There are a total of 200 employees in this company. Raise categories along with amounts to be granted to base salaries follow: Below Expected Performance $75 Expected Performance $300 Above Expected Performance $450 • The midpoint in salary range for the 200 employees (all same job class) is $32,000. (LIST THE NUMBER OF THE QUESTIONS BELOW AND SHOW YOUR COMPLETE CALCULATIONS NEXT TO THE NUMBER.) 1-What is the total cost of legally required benefits per employee in Illinois? 2-What is the relative difference in pay packages between the two states? 3-lf the raise categories for the employees were as follows, what is the total dollar amount of raises granted this year? SHOW ALL WORK! Below Expected Performance 5% Expected Performance 85% Above Expected Performance 10% 4-lf the range spread from midpoint is 12%, what is the minimum and the maximum pay? 5-If the salary of an employee is at the midpoint of $32,000 and the company will match 50 cents (.50) for every dollar the employee contributes up to 5% of their the company match could be how much per year if the employee contributes the maximum of 5%?
Transcribed Image Text:Total Compensation Package per employee = $50/hour Wages are 60% of package Benefits are 40% of package Legally Required Benefits are 20% of total benefits • Employees for this company in Illinois have the $50/hour pay package. In California, the package is valued at $65. • There are a total of 200 employees in this company. Raise categories along with amounts to be granted to base salaries follow: Below Expected Performance $75 Expected Performance $300 Above Expected Performance $450 • The midpoint in salary range for the 200 employees (all same job class) is $32,000. (LIST THE NUMBER OF THE QUESTIONS BELOW AND SHOW YOUR COMPLETE CALCULATIONS NEXT TO THE NUMBER.) 1-What is the total cost of legally required benefits per employee in Illinois? 2-What is the relative difference in pay packages between the two states? 3-lf the raise categories for the employees were as follows, what is the total dollar amount of raises granted this year? SHOW ALL WORK! Below Expected Performance 5% Expected Performance 85% Above Expected Performance 10% 4-lf the range spread from midpoint is 12%, what is the minimum and the maximum pay? 5-If the salary of an employee is at the midpoint of $32,000 and the company will match 50 cents (.50) for every dollar the employee contributes up to 5% of their the company match could be how much per year if the employee contributes the maximum of 5%?
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