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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?

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
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...
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**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: \( \$250 + \$148.80 = \$398.80 \)
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