Peta is married, filing joint with two other dependents, is paid $17.25 per hour, and receives commission on sales. No commission is paid out until sales exceed $60,000. Once the minimum sales have been reached, the 7 percent commission on sales applies. For the week ending June 10, there was 48 hours worked and $75,000 of medicinal supplies sold. Required: Compute Peta's gross pay for the week.
Peta is married, filing joint with two other dependents, is paid $17.25 per hour, and receives commission on sales. No commission is paid out until sales exceed $60,000. Once the minimum sales have been reached, the 7 percent commission on sales applies. For the week ending June 10, there was 48 hours worked and $75,000 of medicinal supplies sold. Required: Compute Peta's gross pay for the week.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
4
Transcribed Image Text:Peta is married, filing joint with two other dependents, is paid $17.25 per hour, and receives commission on sales. No commission is
paid out until sales exceed $60,000. Once the minimum sales have been reached, the 7 percent commission on sales applies. For the
week ending June 10, there was 48 hours worked and $75,000 of medicinal supplies sold.
Required:
Compute Peta's gross pay for the week.
Note: Round your answers to 2 decimal places.
Peta
Name
Totals
Filing Status
MJ
✓
Dependents
2 Other✔ $
Hourly Rate or
Period Wage
17.25✓
X Answer is complete but not entirely correct.
Period Ended:
Number of
Overtime
Hours
Number of
Regular Hours
40.00✔
8.00 $
$
Regular
Earnings
Commissions
690.00✔ $
690.00 $
06/10/xxxx
Overtime
Earnings
1,050.00 $ 207.04
1,050.00 $ 207.04
Gross
Earnings
$1,947.04
$ 1,947.04
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
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,
Accounting
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