Using an Excel spreadsheet or paper, calculate the following compound raises forward two years for the employees of our mock organization. Let's pretend we have the following assumptions regarding the staff in our manufacturing organization: There are 20 salaried staff. They each make $50,000 per year. There are 80 hourly staff. They each make $17.00 per hour and work 8 hours per day for 260 days per year (2080 hours). Ex. Current Year salary per employee $50,000 x 20 salary staff = Total Cost of $1,000,000 Calculate 1% raise Year 1 = $50, 500; Year 1 Total Salary Co = $1,010,000 Calculate 1% raise Year 2 = $51,005; Year 2 Total Salary Cos = $1,020,100 1) Calculate and show your work for a 3% raise for all salaried staff each year (like above) 2) Calculate and show your work for a 10% raise for all salaried staff each year 3) List how much more it will cost the organization for each raise (3% and 10%) compared to the current levels. Ex. 1% raise costs an additional $10,000 in Year 1 and $20,100 in year 2. Hourly Rate Example Ex. Current $17.00 per hour x 2080 hours each x 80 employees = $2,828,800 total cost 4) Calculate and show your work for a $.25 per hour increase for all hourly staff each year ($17.25 and $17.50) 5) Calculate and show your work for a $1.00 per hour increase for all hourly staff each year ($18.00 and $19.00) 6) List how much more it will cost the organization for each raise ($.25 and $1.00) each year compared to the current level of $2,828,800 (like above). 7) Describe how a salary increase can impact an organization (think about employees, budgets, morale, etc.) in positive and negative ways