Logical Function - Multiple IF statements

[vnsrod2000]

Can anyone help me figure out a formula for the following sliding bonus
scenario:

To receive a bonus, Gross Profit must be at least $250,000
Once minimum is met, bonuses are calculated as a percent of the Adjusted GP
(GP minus $250,000) as follows:

If Actual GP is under $500,000:
3% of Adjusted GP

If Actual GP is $500,000 up to $750,000:
3% of first $250,000
4% of balance of Adjusted GP

If Actual GP is over $750,000:
3% of first $250,000
4% of second $250,000
4.5% of balance of Adjusted GP

Thanks!!

 

[Jason Morin]

See here for an example:

http://www.mcgimpsey.com/excel/variablerate.html

HTH
Jason
Atlanta, GA

 

[vnsrod2000]

Thanks, but I don't think the SUMPRODUCT function will work because I'm not
going to have the data listed...

In my spreadsheet, a person will type in the Actual Gross Profit in cell D29
and then the result of the calculation (where the formula is) will be in cell
D31.

 

[JE McGimpsey]

Did you try it?

The whole article is based on entering your AGP in one cell...

Your example is a rather straightforward application of the first
technique shown:

=IF(D29>=250000,SUMPRODUCT(--(D29>{0,500000,750000}),
(D29-{0,500000,750000}),{0.03,0.01,0.005}),0)

The remaining techniques make things more flexible, but aren't required.

 

[vnsrod2000]

Sorry, I see now that it is applicable...However, maybe because I'm not as
savvy with the formulas, I cannot get it to work. The one you include doesn't
calculate properly(if it was intended to). If actual GP is $850,000, then the
result should be $22,000.

Any further assistance is appreicated....Thanks.

 

[Harlan Grove]

vnsrod2000 wrote...

Sorry, I see now that it is applicable...However, maybe because I'm not as
savvy with the formulas, I cannot get it to work. The one you include doesn't
calculate properly(if it was intended to). If actual GP is $850,000, then the
result should be $22,000.

Any further assistance is appreicated....Thanks.

....

JE may have been a little hasty in his specific formula, but the
technique is sound. Try

=SUMPRODUCT(--(GP>{250,500,750}*1000),GP-{250,500,750}*1000,{0.03,0.01,0.005})

 

[vnsrod2000]

Seems to be working brilliantly!
Thanks Harlan
Thanks JE
Thanks Jason

 

[JE McGimpsey]

JE may have been a little hasty in his specific formula

Indeed. Thanks for the correction!