6. Wilson Rooeboker brokers sales agreements for a major homebuilders chain. He is paid a straight commission of 1.5% of thecontract plus an annual bonus of 2.5% of total contracts over$1,500,000per year. What is lus total pay for a year in which hehad total contracts for $2,555,500?

Straight commission: It is an extra amount that an employee earns when the company makes extra sales…

Answered: Wilson Rooeboker brokers sales…

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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Wilson Rooeboker brokers sales agreements for a major home builders chain. He is paid a straight commission of 1.5% of the contract plus an annual bonus of 2.5% of total contracts over $1,500,000 per year. What is his total pay for a year in which he had total contracts for $2,555,500?