III.CommissionAnalyze and solve the following problem.1. A sales agent receives 15% commission on all products that he sells. If the sales agent soldP230,450 worth of products this month, what was his total commission for the month.2. Lawrence gets a base monthly salary of P14,500. As a sales agent, he must sell P75,000worth of items per month. He also makes a 7.5% commission on all sales beyond the monthlyquota. If Lawrence sold P140,000 worth of items this month, what is his total salary for themonth including base and commission?3. A real estate agent gets P11,000 basic salary per month plus some money by commissionrates. If she gets 2.5% commission on the properties that she sells, find her total salary for thegiven month when she sold P1,200,000 worth of property?

We have to analyze and solve three questions related to base pay and commission. The commission is…

Answered: 1. A sales agent receives 15%…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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1.Jill is paid a yearly salary of $90,000. How does she make per month? 2. A salesman is paid a 6% commission on his net sales. Find his gross wages for the past month if his gross sales totaled $91,568 and he had $5,568 of returns and allowances. 3. A salesman receives a salary of $500 per week plus an 8% commission on all sales in excess of $1,800. What were his wages last week, if gross sales totaled $18,714 and returns were $5,714? Group of answer choices A.$1,481.12 B.$1,981.12 C.$1,040 D.$1,396 4. An auctioneer earns a commission on the total value of the property he sells. If he earns $2,700 on the sale of $18,000 worth of property, at what percentage rate is he paid? Group of answer choices A.0.15% B.15% C.1.5% D.1 1/2% 5. A computer programmer, who is covered by the Fair Labor Standards Act, is paid a salary of $1,260 a week for a normal work week of 35 hours. If she works 42 hours in a week, her gross pay for the week would be Group…
These salespeople are paid a minimum monthly salary or commission, whichever is greater. Find the monthly commission and gross pay. # Salesperson 15 Moser 16 Zinn 17 Schwartz 18 Flores 19 Barksdale Minimum Monthly Salary $2,100 1600 3140 850 3410 Total X Commission Monthly Rate Sales $28,000 23000 31000 10000 29100 X X X X X 8.0% 6.5% 9.25% 3.5% 12.1% = Monthly Commission Gross Pay
5. Teresita receives a 6% commission on her sales. She supervises 12 sales representatives and receives a 2.5% override on all their sales. The representatives made sales of P48,300 and she made sales of P9,400. What were her earnings?
3. Ben is paid a monthly salary of 41,500 pesos and has a monthly quota of 75,000 pesos. His sales for January, February, and March are 85,000 pesos, 55,000 pesos, and 125,000 pesos, respectively. If the company pays him 7% for all sales in excess of his quota, how much is his total gross income for that three month period?
Connie Is a purchasing assistant for Sabre Manufacturing. She has received quotes from two different suppliers for a shipment of aluminum. Supplier Ns quote Is for $68,808.55 with payment due In 90 days Supplier B will offer the same product, but requires full payment In 15 days lien other terms are the same, below what price would Supplier B's quote need to be In order for to be selected If Sabre pays an Interest rate of 8.25% on Its One of credit with the bank, (Use 365 days a year. Round your answer to 2 decimal places.)
The Verizon publishing company pays its sales people a weekly salary plus a 2% commission on all net sales over 5,000 (no commission on returned goods.) Complete the following. Employee: Ryan Gross sales: $13,125 Return: $125 Net Sales: Given quota: $5,000 Commission sales: Commission Rate: 2% Total commission: Regular wage: $250 Total Wage:
10. You are paid a commission plus $5.40 per hour with time-and-a-half overtime for all hours more than 8 per day. Your commission consists of 4% of the first $3,000.00 in sales and 5% on all sales over $3,000.00. Find your gross pay for a week in which you worked 9 hours on Monday, 8 hours on Tuesday, 11 hours on Wednesday, 9 hours on Thursday, 10 hours on Friday, and 8 hours on Saturday. Your total sales for the week were $4,115.00. s clonisa
Grainne is an inside saleperson who earns an annual salary of $32800(paid biweekly) plus commission on quarterly sales that is paid on the first pay date on the next quarter. She receives a 1% commission for quarterly sales totaling $0 to $25000, a 2% commission for quarterly sales totaling between $25,001 and $50,000, and a 3% commission for quartlerly sales totaling ovet $50,001. During the second quarter, Grainne's quarerly sales totaled $46,750. What is her gross pay for the first pay period in July? ( do not roud intermediate calculations. Round you answer to 2 decimal places.)
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A salesman is paid a base salary of $120 plus a commission rate of 10% of total sales. Calculate income based on $6000 in sales The total salesman compensation is $ (blank)

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