EXERCISE 3 – Woodbridge Furniture

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EXERCISE 3 – Woodbridge Furniture

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The Woodbridge Furniture Company has decided to pay a 5% commission to its salespeople to stimulate sales. The company currently pays each employee a base salary. The management has projected each employee’s sales for the next quarter. This information - employee name, employee base salary, and projected sales – follows: Tim Baker, $6,000.00, $225,456.00; Joseph Learner, $7,500.00, $264,888.00; Barbara Albright, $8,500.00, $235,250.00; Lynn Mourissee, $7,250.00, $258,450.00; Richard Noble, $4,250.00, $325,456.00. With this data, you have been asked to develop a worksheet calculating the amount of commission and the quarterly salary for each employee.

Include a Total, Average Value, Highest Value, and Lowest Value, for Employee Base Salary, Commission Amount, and Quarterly Salary. With the Quarterly Salary, use HLOOKUP to find the rating for each employee based on the following: $0 - 16999: *, $17,000 - $17999: **, $18,000 - $18,999: ***, $19,000 – $19,999: ****, and above or equal to $20,000: *****. Save this workbook as “Furniture”.