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?

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?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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?

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