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Crunch the Numbers! 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 companys 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 two percent of all profits up to $12 million. Graduated First-Dollar-of-Profits: The company agrees to share three percent of all profits up to $15 million, and five percent of all profits up to $40 million. Profitability Threshold Formula: The company will share three percent of the profits above $10 million up to $17 million. There are 250 employees whose total annual base pay equals $2,100,000.

Questions: 4-11.Calculate the total profit sharing pool for the following scenarios: (a) first-dollar of profits, (b) graduated first-dollar of profits, and (c) profitability threshold formula. 4-12.Calculate the average profit-sharing award per employee based on the equal payments formula based on the profit-sharing pools calculated in question 4-11: (a) first-dollar of profits, (b) graduated first-dollar-of-profits, and (c) profitability threshold formula. 4-13.For each profit-sharing pool calculated in question 4-11, determine the annual profit-sharing awards based on proportional payments for (a) Jim, whose annual base pay equals $55,000, (b) Margaret, whose annual base pay is $125,000, and Ella, whose annual base pay is $210,000.