These salespeople are paid a minimum monthly salary or commission, whichever is greater. Find the monthly commission and gross pay. # Salesperson 15 Moser 16 Zinn 17 Schwartz 18 Flores 19 Barksdale Minimum Monthly Salary $2,100 1600 3140 850 3410 Total Monthly Sales $28,000 X 23000 X X Commission = Rate 31000 X 10000 X 29100 X 8.0% 6.5% 9.25% 3.5% 12.1% = = = Monthly Commission Gross Pay

These salespeople are paid a minimum monthly salary or commission, whichever is greater. Find the monthly commission and gross pay. # Salesperson 15 Moser 16 Zinn 17 Schwartz 18 Flores 19 Barksdale Minimum Monthly Salary $2,100 1600 3140 850 3410 Total Monthly Sales $28,000 X 23000 X X Commission = Rate 31000 X 10000 X 29100 X 8.0% 6.5% 9.25% 3.5% 12.1% = = = Monthly Commission Gross Pay

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...

See similar textbooks

Similar questions

Allocating Transaction Price to Performance Obligations and Recording Sales Maximum Inc. (retailer) has a loyalty program that rewards its customers one point per $1 spent. Points are redeemable for $0.20 off future purchases. A customer purchases products (cost of $280) for cash at the usual selling price of $400 and earns 400 points redeemable for $80 off future purchases of goods or services. The retailer expects redemption of 360 points or 90% of points earned. a. How should the transaction price be allocated among the performance obligation(s)?Note: Round each allocated transaction price in the table below to the nearest dollar. Performance Obligations TransactionPriceas Stated StandaloneSellingPrice AllocatedTransaction Price(rounded) Product purchase Answer Answer Answer Loyalty rewards Answer Answer Answer Answer Answer Answer b. Prepare Maximum’s journal entry to record the $400 sale to the customer where the customer earned 400…
Type the formulas to calculate the following: In cell B9, calculate the grand total amount owing for all customers. In ce E KBC DFGHJ1 Cost Retail 2 Mussels R12,40 R21, 70 3 Crabs R25, 60 R44,804 Markup % 75,0% 5 Discount % 8,5% EFT 6 VAT % 15 89 Total Sales 10 Cost of Sales 11 Profit or Loss No of 12 Customers No of Crab 13 Customers Sales of Mussel 14 Customers 15 Can
Please show all equations and work as needed. If possible, please type the work so that it may be copied and pasted. Thank you.
How do I find FIFO and LIFO
If a saleperson's monthly sales are less than $400, their commission is 5% If a saleperson's monthly sales are between $400 and $750, their commission is 10%. If a salesperson's monthly sales are more than $750, but less than $1000, their commission is 15%. If a saleperson's monthly sales are $1000 or more, their commission is 18.5%. Salesperson Sales Commission Rome $1000 Izzy $750 Drizzy $800 Jay $350 Hint: Commission equals the sales amount*commission Rate)(Excel Nesting IF exercise )
Following are the details of spending pattern for a customer. Calculate the customer's past customer value based on a discount rate of 1.25% per month. January February March Purchase Amount 800 50 50 ($) Gross Contribution 240 15 15 (GC) O 350 O 290.5 300 O 276. 2
Genral account
Q.2. Compute the total commission for the following commission payment plan. Graduated Commission Rates 3% on sales to $25,000 5% from $25,000 to $50,000 7% on sales above $50,000 Sales $84,000 Commission
A salesman has a basic salary and in addition,receives a commission which is a fixed percentage of his sales volume. When his weekly sales are Br.1000,his total salary is br.400.When his weekly sales are 500.00,his total salary is br.300.Determine his basic salary and his commission percentage and express the relationship between sales and salary in equation form
Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B Assuming the sales mix given above, prepare a contribution format income statement showing both dollar and percent columns for e for the company as a whole. $ Island Novelties, Inc., Contribution Income Statement Hawaiian Fantasy Amount % 0 % % 0% $ Total Amount 0 0 % % % 0 %
ABC Merchandising buys merchandise costing P35,000 and returns P10,000 cost of the merchandise. If the term is 2/10, n/30 and the company pays the discount period, how much it should pay the seller? O a. P34,300 O b. P24,500 O c. P21,250 O d. P25,000
Please help me with Req 4. If someone can help me I will give a thumbs up! :)