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Nick Billups is paid a salary of $900 a month, a 2% commission on all sales, and 1.8% more on monthly sales over $17,500. In June, his sales were $48,500 and in July, $50,200. a. Find his total salary and commission for June. b. Find his total salary and commission for July. 900

Nick Billups is paid a salary of $900 a month, a 2% commission on all sales, and 1.8% more on monthly sales over $17,500. In June, his sales were $48,500 and in July, $50,200. a. Find his total salary and commission for June. b. Find his total salary and commission for July. 900

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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1-3 Name Date Fommission 7. Nick Billups is paid a salary of $900 a month, a 2% commission on all sales, and 1.8% more on monthly sales over $17,500. In June, his sales were $48,500 and in July, $50,200. a. Find his total salary and commission for June. b. Find his total salary and commission for July. 900
Transcribed Image Text:1-3 Name Date Fommission 7. Nick Billups is paid a salary of $900 a month, a 2% commission on all sales, and 1.8% more on monthly sales over $17,500. In June, his sales were $48,500 and in July, $50,200. a. Find his total salary and commission for June. b. Find his total salary and commission for July. 900
Expert Solution
A. Find his total salary and commission for June.

JUNE SALES = $48,500

SALARY FOR JUNE = $900

 

COMMISSION CALCULATION

( A ) 2% ON ALL SALES

= 2% X $48,500 = $970

( B ) 1.8 % ON SALES ABOVE $17,500

= 1.8 % X ($48,500 - $17,500) = $558

 

TOTAL COMMISSION = $970 + $558 = $1,528

TOTAL SALARY = $900 + $970 + $558 = $2,428

 

 

 

 

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