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	Project 1	Project 2	Project 3
Project revenue:	50,000	75000	35000
Technology costs:	5,000	3500	1000
Labor costs:	35000	50000	37000
PM bonus:	0	0	0
Project profit:	0	0	0

A consulting company has designed the accompanying spreadsheet model to compute a project's revenues and profits. The costs of each project include technology costs, labor costs, and project manager (PM) bonus. The PM bonus is computed as 10% of the profit of the project if the project makes a profit and 0 if the project loses money. The spreadsheet model seems to be producing erroneous results. Click here for the Excel Data File a. Use the model auditing tools to identify the error. The error is due to circular reference incorrect cell reference invalid user inputs none of the above b. Repair the spreadsheet so that it produces correct outcomes. What should be the PM bonus for Project 1? What is the project profit for Project 2