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You are the manager of a group of 15 employees. You have to determine each...

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Accounting

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You are the manager of a group of 15 employees. You have to determine each employee's annual raise. Here are the guidelines you have been given: The total amount of raises must not exceed 4% of the total of your department's current salaries. This is your budget. An employee's raise depends upon their performance rating and how their salary compares to the maximum salary of the classification. You may not exceed the guideline raise. The classification and salary ranges are: Lower Upper Classification Limit Limit $0 $60,000 2 $60,001 $135,000 $135,001 $180,000 You calculate the employee's salary range percentage with the following formula: % of range max = (current salary - lower limit of class) divided by (upper limit - lower limit) The raise guideline is given in the following table (A = superior, B = average, C = below average): For example, if Ms. Fields is in classification 2, has a current salary of $80,000, has a performance rating of B, then: % of range max = (80,000 - 60,001) divided by (135,000 - 60,001) % of range max = 43.00%

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