Need help with this accounting question During a year, Teri's monthly sales compensation ranged between $20,000and $27,200 per month and units sold ranged between 1,000 and 1,800 unitsfor those same months. Required: Use the high-low method to determineTeri's monthly salary and commission rate per unit sold and then calculatethe total number of units sold in a year when Teri's total compensationamounted to $289,500. (Round your "Commission rate" to 2 decimal places.)Monthly salary: $Commission rate:per unitunitsTotal number of units sold:

Step 1: Define Cost BehaviorIn cost accounting, there are different methods that can be used to…

Answered: During a year, Teri's monthly sales…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Domestic
You are paid a base weekly salary of $362 and earn 6.5% commission on your sales at a furniture store. What is your total earnings for the year if you achieved a total sales of $231, 611.60?
David is paid a monthly salary of 12,000 and earn a commission of 4% in sale. If he sold the total amount of 80,000 during the month how much is the gross pay
Guided Question: 1. David is paid a monthly salary of P12,000 and earns a commission of 4% in sales. If he sold a total amount of P80,000 during the month, how much is his gross pay? 2. Haidee makes money by commission rates. She gets 15% of everything she sells. If Haidee sold P23,000 worth of item this month, what is her total salary for the month? 3. Maine makes a base monthly salary of P9,000 and gets 10% of everything she sells. If Maine got a total salary of P12,000 for the month, how much is the worth of items did she sell?
Lauren's gross pay for July was $3188.35 on net sales totalling S88,630. If her base salary is $1000 per month, what is her rate of commission on sales exceeding her monthly quota of $40,000? (Round your answer to 2 decimal places.) Commission rate
What is Lucy’s net pay? Show all your work
Jason’s gross pay for August is $4932 on sales totalling $202,000. If his base salary is $2,700 per month. What is rate of commission on sales exceeding his monthly quota of $140,00?
Solomon Corporation paid one of its sales representatives $4,000 during the month of March. The rep is paid a base salary plus $10 per unit of product sold. During March, the rep sold 300 units. Required Calculate the total monthly cost of the sales representative’s salary for each of the following months:
Cabrera Accounting pays Shanaya Kapoor $63,480 per year.(Round your answers to two decimal places when needed and use rounded answers for all future calculations).1. What is the hourly cost to Cabrera Accounting of employing Shanaya Kapoor? Assume it is a 31 hour work week and the work 50 weeks a year. Weeks per year ? Hours per week = Work hours per year = Yearly Rate ? Hours per year = Cost per hour = 2. What is the direct labor cost assigned to Client 123 when Shanaya Kapoor works 18 hours to prepare Clients 123 financial statements? Hours worked ? Rate per hour = Direct Labor Cost =
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…
_ Kallen receives a base salary of $800 per month plus 5% on all sales over $15,000. If Kallen sold $75,000 last month, his gross pay would be $3,800. True or False
Jeffery Simpson sells widgets for Colorful Toys, Inc. His annual salary is $50,000 per year and he is paid on a biweekly basis. During the third quarter of the year, Jeffery’s total sales were $33,008. He is also paid a commission and the for quarterly sales, see below. For the first pay of October, what is his gross pay? $0 to $20,000 1% $20,001 to $32,000 2% $32,001 to $50,000 3% $2,553.16 $2,913.32 $1,923.08 $2,583.24

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS