Calculating Profit Sharing Pay Awards in your new role as compensation analyst, you have been asked to estimate the dollar amount of the profit-sharing pool based on three approaches as well as the allocation of profit-sharing awards to eligible employees. The company's profits equal $35 million You are considering the following three formulas for determining the total profit-sharing pool First-Dollar of Profits The company agrees to share 2.5 percent of all profits up to $12 million Graduated First Dollar of Profits The company agrees to share 2.0 percent of all profits up to $5 million, and 40 percent of all profits up to 540 milion Profitability Threshold Formula The company will share 1.0 percent of the profits above $10 milion up to $17 million There are 240 employees whose total annual base pay equals $2,100,000 The total profit-sharing pool for (Round your answers to the nearest hundredths place) (a) First-dollar of profits is $300,000 (b) Graduated first dollar of profits is $ 1,400,000 (c) Profitability threshold formula is $ 170,000 Based on the equal payments formula, the average profit sharing award per employee based on the total profit sharing pools) for (Round your answers to the nearest hundredths place) (a) First-dollar of profits is $1,250.00 per employee (b) Graduated first-dollar-of-profits is 55,833 33 per employee (a) First-dollar of profits is $ 1,250.00 per employee (b) Graduated first-dollar-of-profits is $5,833.33 per employee (c) Profitability threshold formula is $ 708.33 per employee (a) For First-Dollar of Profits Profit Sharing Pool, the annual profit-sharing awards based on proportional payments for (Round your answers to the nearest hundredths place.) Jim, whose annual base pay equals $55,000 = $[ Margaret, whose annual base pay is $125,000 = Ella, whose annual base pay is $210,000 = $ (b) For Graduated First Dollar of Profits Profit Sharing Pool, the annual profit-sharing awards based on proportional payments for (Round your answers to the nearest hundredths place.) Jim, whose annual base pay equals $55,000- Margaret, whose annual base pay is $125,000 = Ella, whose annual base pay is $210,000 = $ (c) For Profitability Threshold Formula Pool, the annual profit-sharing awards based on proportional payments for: (Round your answers to the nearest hundredths place.) Jim, whose annual base pay equals $55,000 $ Margaret, whose annual base pay is $125,000 = s[ Ella, whose annual base pay is $210,000 = s Enter your answer in the edit fields and then click Check Answer. All parts showing Clear All