Subcontract Markup

[irish2171]

Creating a spreadsheet to calculate markup of a subcontractor on a DOT project. The DOT has a set rule on how markup is applied. We can mark up the first $3k at 10%, anything over $3k can only be marked up 7%.


My spreadsheet looks like this: F72=(total subcontract amount), F73 should show the result of 10% of the "first" $3k of F72. F74 should show the result of 7% of the amount of F72 that is above $3k. If F72 = 10,000 then F73 should equal 300 and F74 should equal 490. If F72 = 500 then F73 should equal 50 and F74 should equal 0.


I'm totally lost on how to create a formula to do that. It seems like it should be simple, but I'm lost.

 

[Colin Legg]

Welcome to the forum.


Give these a try:

In F73

[pre]

=MIN(F72,3000)*10%
In F74

=MAX(0,F72-3000)*7%

[/pre]

 

[irish2171]

Colin....that is perfect, of course. Thank you very much. I knew it was something simple. I guess that's why I joined this site to LEARN. Thanks again.