I completed the formula, but its still coming out wrong. My total should be $108.36 for commission. Please verify my formula?
- calculate commission. Commission is only paid if the Quota is met. The formula used for Commission calculation will be an IF statement that contains two VLOOKUP commands. The following is the logic for the commission formula in English. This must be converted to commands for Excel. You will use IF statement with VLOOKUPS to find data in the table. Suggestion: first create each Vlookup separately to get format correct and verified. Build your full IF () statement from known-good functions, after verifying each individually.
(Note wage sheet at bottom)
Commission Calculation:
IF the daily sales are greater than (Hours Worked times Hourly Quota) [from table] then
TRUE = Calculate commission using this formula:
(Daily sales minus the (Hours Worked times Hourly Quota)) multiplied by the commission rate [from table]
FALSE (i.e. not true) = zero (0) commission