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How much should each division manager receive

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Tohonta Quezon Avenue, Inc. is a dealer of Tohonta trucks and automobiles. Tohonta distributes annual bonuses to its Vice president for Sales department and three division managers, namely: truck divison, SUV division, and AUV and Sedan Division. The company reported P 12,000,000 profit for year 2019 before bonuses and income tax. Income tax rate is 30%.

Problem 1: How much should the vice president and each division manager receive,respectively, if the vice president gets 3% and each division manager gets 1% of profit after bonuses before income taxes?

Reference no: EM132753866

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