can anyone help a dimwit

[madmurg]

I need to pay a bonus to some people which will be a fair share of $50,000 acording to the time they have spent on the job and also linked to their hourly pay.

man1 has spent 500 hours on the job and his pay is $20 per hour
man2 has spent 500 hours on the job and his pay is $18 per hour
man3 has spent 500 hours on the job and his pay is $10 per hour
man4 has spent 300 hours on the job and his pay is $18 per hour
obviously man1 should get the most money and man 4 should get the least.
I have spent hours trying to find a fair formula but I cant seem to get there.
Please can some boffin post me a simple solution.

 

[tkhunny]

I need to pay a bonus to some people which will be a fair share of $50,000 acording to the time they have spent on the job and also linked to their hourly pay.

man1 has spent 500 hours on the job and his pay is $20 per hour
man2 has spent 500 hours on the job and his pay is $18 per hour
man3 has spent 500 hours on the job and his pay is $10 per hour
man4 has spent 300 hours on the job and his pay is $18 per hour

How about a weighted average?

1) 500*20 = 10000
2) 500*18 = 9000
3) 500*10 = 5000
4) 300*18 = 5400

Total 10000 + 9000 + 5000 + 5400 = 29400

1) 10000/29400 = 0.3401361
2) 9000/29400 = 0.3061224
3) 5000/29400 = 0.1700680
4) 5400/29400 = 0.1836735

Split

1) 50000*0.3401361 = 17006.81
2) 50000*0.3061224 = 15306.12
3) 50000*0.1700680 = 8503.40
4) 50000*0.1836735 = 9183.68

Check 17006.81+15306.12+8503.40+9183.68 = 50000.01

You'll have to snitch a penny from someone, or just kick the extra cash into the pot.

Of course, this will be a lump sum payment, so the taxes may be horrendous.

 

[madmurg]

Thanks

Thanks for the quick reply, I cant tell you how long I have spent trying to work this out.
It works great.

 

[Denis]

Mad Murg, next time you get something that "looks" so complicated,
try setting up by yourself a similar but very simple example:
A = 3h @ $5 = $15
B = 4h @ $3 = $12
C = 1h @ $3 = $3 :add em up to get $30

Bonus = $90

A = 15/30 = 1/2 * 90 = 45
B = 12/30 = 2/5 * 90 = 36
C = 3/30 = 1/10 * 90= 9 : add em up to get 90

Your problem was really as simple as that; get my drift?