Isadore Mitchell. Clothing salesperson. Minimum weekly salary is $250, Rate of commission is 6%. Weekly sales are $2480. What is the commission? What is the gross pay?

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 29CE: Unearned Sales Revenue Brand Landscaping offers a promotion where a customers lawn will be mowed 20...
icon
Related questions
Question
**Clothing Salesperson: Isadore Mitchell**

- **Minimum Weekly Salary:** $250
- **Rate of Commission:** 6%
- **Weekly Sales:** $2,480

**Tasks:**

1. Calculate the commission earned.
2. Determine the total gross pay for the week.

**Explanation:**

To find the commission earned:
- Multiply the weekly sales by the commission rate: \( \$2,480 \times 0.06 = \$148.80 \)

To find the gross pay:
- Add the commission to the minimum weekly salary: \( \$250 + \$148.80 = \$398.80 \)
Transcribed Image Text:**Clothing Salesperson: Isadore Mitchell** - **Minimum Weekly Salary:** $250 - **Rate of Commission:** 6% - **Weekly Sales:** $2,480 **Tasks:** 1. Calculate the commission earned. 2. Determine the total gross pay for the week. **Explanation:** To find the commission earned: - Multiply the weekly sales by the commission rate: \( \$2,480 \times 0.06 = \$148.80 \) To find the gross pay: - Add the commission to the minimum weekly salary: \( \$250 + \$148.80 = \$398.80 \)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning