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Marcus works as a retail associate. He receives a weekly salary of $350 plus a commission of 5% on all sales. In one week, Marcus made sales totaling $3,600. The following are deductions from his gross earnings: Retirement fund contribution of 4.5% of gross earnings Health insurance premium of $42 Income tax deduction of $68 Calculate Marcus's net earnings for the week. A) $412.75 B) $425.50 C) $430.20 D) $396.15

Marcus works as a retail associate. He receives a weekly salary of $350 plus a commission of 5% on all sales. In one week, Marcus made sales totaling $3,600. The following are deductions from his gross earnings: Retirement fund contribution of 4.5% of gross earnings Health insurance premium of $42 Income tax deduction of $68 Calculate Marcus's net earnings for the week. A) $412.75 B) $425.50 C) $430.20 D) $396.15

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 7E
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Marcus works as a retail associate. He receives a weekly salary of $350 plus a commission of 5% on all sales. In one week, Marcus made sales totaling $3,600. The following are deductions from his gross earnings: Retirement fund contribution of 4.5% of gross earnings Health insurance premium of $42 Income tax deduction of $68 Calculate Marcus's net earnings for the week. A) $412.75 B) $425.50 C) $430.20 D) $396.15
Transcribed Image Text:Marcus works as a retail associate. He receives a weekly salary of $350 plus a commission of 5% on all sales. In one week, Marcus made sales totaling $3,600. The following are deductions from his gross earnings: Retirement fund contribution of 4.5% of gross earnings Health insurance premium of $42 Income tax deduction of $68 Calculate Marcus's net earnings for the week. A) $412.75 B) $425.50 C) $430.20 D) $396.15
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