Velma is an Account Manager for Sherwin Williams paint. For the month, Velma sold paint that...

Velma is an Account Manager for Sherwin Williams paint. For the month, Velma sold paint that totaled $41,185 in sales. The cost of goods sold of this paint was 80%, so she generated 20% of sales as profit (or gross margin) for the company. Velma is paid 42% straight commission based on her profit. What is the total of her monthly compensation? (round to nearest dollar)

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Expert Solution

Profit generated=Sales*20%

=41,185*20%

=$8237

Hence monthly compensation=8237*42%

=$3460(Approx)

jeff jeffy answered 2 years ago

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