Question

Next year baldwin plans to include an additional performance bonus of 0. 5% in its compensation plan. This incentive will be provided in addition to the annual raise, if productivity goals are reached. Assuming the goals are reached, how much will baldwin pay its employees per hour?.

Answer 1

Baldwin will pay (D) $29.63 to its employees per hour.

What is a bonus?

• Employees typically receive a bonus payment in addition to their base compensation as part of their wages or salary.
• While the base compensation is often a predetermined amount per month, incentive payouts may change based on established factors such as annual turnover, the net number of additional customers recruited, or the current value of a public company's shares.
• Thus, bonus payments can work as incentives for managers, engaging their attention and personal interest in what is perceived as beneficial to the economic performance of their companies.

Consider the following calculations to determine how much Baldwin pays its employees:

• Total raise = 5% + 0.25% = 5.25%
• Present wages = $28.15
• Baldwin will pay = $28.15 × (1.0525) = $29.63

Therefore, Baldwin will pay (D) $29.63 to its employees per hour.

Know more about a compensation plan here:

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The complete question is given below:

Next year Baldwin plans to include an additional performance bonus of 0.25% in its compensation plan. This incentive will be provided in addition to the annual raise if productivity goals are reached. Assuming the goals are reached, how much will Baldwin pay its employees per hour?

Select: 1

(A) $28.22

(B) $31.04

(C) $28.15

(D) $29.63