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Chec Telemarketers receive $10 commission on all new customers that sign up for cell phone service through Movill Networks. Each telemarketer works 40 hours. The company ran a competition this week to see who could sign up the most new people and the winner would get a bonus of $26. Because these employees are paid solely on commission, the employer must ensure that they earn the federal minimum wage for 40 hours each week. Required: Compute the gross pay for each of the following outbound sales representatives. Enter difference when the commission pay is less than the gross pay at minimum wage. Difference Between Number of New Customers Total Commission Minimum Pay and Commission (if the minimum is not met Employee Signed sross Pay S. McCulloch 30 440 F. Odell 22 220 S. Heller 33 330 V. Caro 20 200

Chec Telemarketers receive $10 commission on all new customers that sign up for cell phone service through Movill Networks. Each telemarketer works 40 hours. The company ran a competition this week to see who could sign up the most new people and the winner would get a bonus of $26. Because these employees are paid solely on commission, the employer must ensure that they earn the federal minimum wage for 40 hours each week. Required: Compute the gross pay for each of the following outbound sales representatives. Enter difference when the commission pay is less than the gross pay at minimum wage. Difference Between Number of New Customers Total Commission Minimum Pay and Commission (if the minimum is not met Employee Signed sross Pay S. McCulloch 30 440 F. Odell 22 220 S. Heller 33 330 V. Caro 20 200

FINANCIAL ACCOUNTING
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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How do I finish this commission problem?

## Homework Assignment: Telemarketer Commission and Minimum Wage Calculation ### Scenario: Telemarketers receive a $10 commission on all new customers that sign up for cell phone service through Movill Networks. Each telemarketer works 40 hours. The company ran a competition this week to see who could sign up the most new people and the winner would get a bonus of $26. Because these employees are paid solely on commission, the employer must ensure that they earn the federal minimum wage for 40 hours each week. ### Required: Compute the gross pay for each of the following outbound sales representatives. Enter the difference when the commission pay is less than the gross pay at minimum wage. ### Data Table: | Employee | Number of New Customers Signed | Total Commission | Difference Between Minimum Pay and Commission (if the minimum is not met) | |----------------|--------------------------------|------------------|----------------------------------------------------------------------| | S. McCulloch | 30 | $440 | | | F. Odell | 22 | $220 | | | S. Heller | 33 | $330 | | | V. Caro | 20 | $200 | | ### Instructions: 1. **Calculate Gross Pay:** - Each telemarketer earns $10 for each new customer they sign up. - Determine the gross pay for each telemarketer by multiplying the number of new customers by $10. 2. **Federal Minimum Wage Calculation:** - The federal minimum wage is $7.25 per hour. - Calculate the minimum wage for 40 hours of work: \( 7.25 \times 40 \) 3. **Comparison:** - Compare each telemarketer's total commission to the minimum wage for 40 hours. - If the commission is less than the minimum wage, compute the difference and enter it in the table. ### Example Calculation: - For S. McCulloch: - Number of New Customers Signed: 30 - Total Commission: \( 30 \times 10 = 300 \) - Minimum Wage for 40 hours: \( 7.25 \times 40 = 290 \) - Difference (if applicable): \( 300 - 290 = 10 \) Ensure you complete the table and calculations accurately to determine if any sales representatives require additional pay to meet the federal minimum wage requirements
Transcribed Image Text:## Homework Assignment: Telemarketer Commission and Minimum Wage Calculation ### Scenario: Telemarketers receive a $10 commission on all new customers that sign up for cell phone service through Movill Networks. Each telemarketer works 40 hours. The company ran a competition this week to see who could sign up the most new people and the winner would get a bonus of $26. Because these employees are paid solely on commission, the employer must ensure that they earn the federal minimum wage for 40 hours each week. ### Required: Compute the gross pay for each of the following outbound sales representatives. Enter the difference when the commission pay is less than the gross pay at minimum wage. ### Data Table: | Employee | Number of New Customers Signed | Total Commission | Difference Between Minimum Pay and Commission (if the minimum is not met) | |----------------|--------------------------------|------------------|----------------------------------------------------------------------| | S. McCulloch | 30 | $440 | | | F. Odell | 22 | $220 | | | S. Heller | 33 | $330 | | | V. Caro | 20 | $200 | | ### Instructions: 1. **Calculate Gross Pay:** - Each telemarketer earns $10 for each new customer they sign up. - Determine the gross pay for each telemarketer by multiplying the number of new customers by $10. 2. **Federal Minimum Wage Calculation:** - The federal minimum wage is $7.25 per hour. - Calculate the minimum wage for 40 hours of work: \( 7.25 \times 40 \) 3. **Comparison:** - Compare each telemarketer's total commission to the minimum wage for 40 hours. - If the commission is less than the minimum wage, compute the difference and enter it in the table. ### Example Calculation: - For S. McCulloch: - Number of New Customers Signed: 30 - Total Commission: \( 30 \times 10 = 300 \) - Minimum Wage for 40 hours: \( 7.25 \times 40 = 290 \) - Difference (if applicable): \( 300 - 290 = 10 \) Ensure you complete the table and calculations accurately to determine if any sales representatives require additional pay to meet the federal minimum wage requirements
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