In: Accounting
1:Samuel Worthy earns both $8.10/hour and a 14% commission on
all sales. During the most recent week, he worked 41 hours and made
total sales of $12,000.
Gross Pay = $
2:Charlotte Denning earns both $13/hour and $26 for every sale
she completes. During the most recent week, she worked 47 hours and
made a total of 71 sales.
Gross Pay = $
3:James Finch earns both $11.50/hour and a 11% commission on all
sales. During the most recent week, he worked 44 hours and made
total sales of $7,100.
Gross Pay = $
4:Keri Weinberg earns both $9/hour, $13 for every sale of
Product A, and $17 for every sale of Product B. During the most
recent week, she worked 48 hours and sold 34 units of Product A and
39 units of Product B.
Gross Pay = $
5:Tom Wilson earns both $16.10/hour and a 16% commission on all
sales. During the most recent week, he worked 46 hours and made
total sales of $14,500.
Gross Pay = $
For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
Solution: | |||
1. | Samuel Worthy's Gross Pay = $2,012.10 | ||
Working Notes: | |||
Hourly wages | $332.10 | ||
[$8.10 per hour x 41 hours ] | |||
Commission on sales | $1,680.00 | ||
[$12,000 x 14% ] | |||
Samuel Worthy's Gross Pay = $ | $2,012.10 | ||
2. | Charlotte Denning's Gross Pay = $2,457.00 | ||
Working Notes: | |||
Hourly wages | $611.00 | ||
[$13 per hour x 47 hours ] | |||
Commission on sales | $1,846.00 | ||
[$26 per sale x 71 sales ] | |||
Charlotte Denning's Gross Pay = $ | $2,457.00 | ||
3. | James Finch's Gross Pay = $1,287 | ||
Working Notes: | |||
Hourly wages | $506.00 | ||
[$11.50 per hour x 44 hours ] | |||
Commission on sales | $781.00 | ||
[11% x $7,100 ] | |||
James Finch's Gross Pay = $ | $1,287.00 | ||
4. | Keri Weinberg's Gross Pay = $1,537 | ||
Working Notes: | |||
Hourly wages | $432.00 | ||
[$9 per hour x 48 hours ] | |||
Commission on sales | |||
Product A | $442.00 | ||
[$13 per sale x 34 units sales ] | |||
Product B | 663 | ||
[$17 per sale x 39 units sales ] | |||
Keri Weinberg's Gross Pay = $ | $1,537.00 | ||
5. | Tom Wilson's Gross Pay = $3,060.60 | ||
Working Notes: | |||
Hourly wages | $740.60 | ||
[$16.10 per hour x 46 hours ] | |||
Commission on sales | $2,320.00 | ||
[$14,500 x 16% ] | |||
Tom Wilson's Gross Pay = $ | $3,060.60 | ||
Please feel free to ask if anything about above solution in comment section of the question. |