Calculation with IF functions

[Guest]

I have a series of data on production volumes (below). We pay a bonus of min
£50 for upto 500 units of production and then £0.12 per unit above that. I
want to calculate the bonus so it is just a single figure in £s in the column
next to Prod. Any ideas how to do this?

Prod Bonus

275 50
350 50
510 50 + 1.2 = 51.2
600 50 + 12 = 62

Thanks in advance

 

[Guest]

If the unit volume is in A1, then the bonus is =50 + .12 * (max(0,a1-500))

 

[Bernard Liengme]

You have been given an elegant answer but if it is homework and you must use
IF
=50 + IF(A1>50, (A1-50)*0.12, 0)
Another non-IF formula is =50+ (A1>50)*(A1-50)*12
best wishes

 

[Guest]

Start a simple worksheet to walk through this example.

In cells A3 to A6 enter your values 275, 350, 510, & 600.
In cell E3 enter 500
In cell E4 enter 0.12
In cell E5 enter 50

In cell B3 paste this formula and then copy to cells B4 to B6.
=IF(A3<$E$3,$E$5,((A3-$E$3)*$E$4)+$E$5)

 

[Guest]

bpeltzer

Many thanks, it seems to work well except when I checked some of the results
with my trusty Casio. For example I have one reading of 586 so it should be
586 - 500 = 86 * 0.12 = 10.32 + 50 = 62.32, it comes up with 62.33, or
another one is 703 which should give a result of 74.36, actually gives a
result of 74.39 which I cannot explain by looking at the formula. Yet
further down the list I have a result of 1041 for the production and the
calculated bonus is 114.92 which is correct. A puzzle indeed.

 

[Guest]

Thanks all for your help I have sorted out the the issue of the wrong
answers. The data I am using came from someone elses spreadsheet and the
data was in whole numbers on the screen but actually had decimals behind it.
Basically it was a formatting error on my part.