Part 1 – Computation of Salaries using Excel
Gifts Connect Pte Ltd is a local company that offers a fantastic range of inspired, stylish and unique gifts for all occasions. Gifts Connect specializes in gifts relating to Home Décor, Gifting, and Lifestyle.
All staff members of the company are paid according to their basic monthly pay plus an incentive component based on their overall sales for the month. The performance incentive is computed based on an additional percentage of their basic pay if they were able to achieve the minimum amount of targeted overall sales amount indicated in the Performance Incentives table below. You are required to develop a worksheet to compute the monthly payroll of the staff members using MS Excel.
Staff Salary Table
Performance Incentive Table