19. Odette has a base monthly salary of S1,500 and earns a 5% commission on all sales she makes at the upscale electronics store at which she works. If her total income last month was $7,500, what was her total in sales?
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- Mark is currently earning $44,000 a year. He has worked for this firm for 5 years. He is considering a job that will increase his lifetime earnings by $240,000 but that requires a Ph.D. in finance. The job will mean also attending a full-time finance program for four years at an annual cost of $28,500. Mark already completed an MBA, for which he spent $86,000 in tuition and books. Would he take the job and attend the Ph.D. program? Calculate: Insutructions: Use ono decimals. Use commas (30,000, not 30000). Opportunity costs of this decision = $ MC = $ MB = $ Sunk Costs = $Lucille receives an annual salary of $37,500 based on a 37.5-hour workweek. What are her gross earnings for a two-week pay period in which she works 9 hours of overtime at 1 1/2 times her regular rate of pay? (Assume there are exactly 52 weeks in a year. Round your answer to the nearest cent.) Gross earnings =If a firm manager has a base salary of $50,000 and also receives two percent of profits, how much will his/her income be if revenues are $8,000,000 and profits are $2,000,000? A. $90,000. B. $210,000. C. $100,000. D. $150,000.
- Alexa Walsh sells for Supreme Designs , a manufacturer of women's clothing . Alexa is paid a straight commission of 2.4%. If her sales volume last month was #233,760 , what was her total gross pay ? AnswerQuestion 5 Q5. Jessie, a pharmacist, is planning on opening her own pharmacy. Jessie Pharmacy is expected to generate yearly revenue of $500,000. Jessie will run the pharmacy herself on fulltime basis. Jessie’s alternative employment options are as follows: - Continue to work as a senior medical representative for $50,000 per year. - Accepts a research position in another company for $70,000 per year. Jessie expects to spend $350,000 per year on purchasing drugs and cosmetics for resale to her customers. She will also need to hire three employees: an assistant, an accountant and a custodian, for whom the total salaries to be paid are expected to be $48,000 per year. Jessie owns the building in which her pharmacy is supposed to be; however, she could rent the pharmacy-store space out for $42,000 per year. Calculate Jessie’s accounting profit and economic profit. In your opinion, should Jessie proceed with opening her own pharmacy? Justify your answerJohn is the owner of “Down Town Pizza & Salad Bar” (NY). At the end of the year, John has the following information: Total Revenue = $290,000. Wages = $58,000, rent = $28,000, material & ingredients = $46,000, and utilities = $12,000. Also, Pizza Hut just offered him a job earning of $78,000. John invested $32,000 of his own savings in a new industrial oven. The oven at the end of the year can be sold at $18,000. The interest rate at the end of the year is 3.2%. According to this information, economic profits = $__
- John is the owner of “Down Town Pizza & Salad Bar” (NY). At the end of the year, John has the following information: Total Revenue = $290,000. Wages = $58,000, rent = $28,000, material & ingredients = $46,000, and utilities = $12,000. Also, Pizza Hut just offered him a job earning of $78,000. John invested $32,000 of his own savings in a new industrial oven. The oven at the end of the year can be sold at $18,000. The interest rate at the end of the year is 3.2%. According to this information, what would you advice? John should continue the business because economic profits are positive. John should continue the business because accounting profits are positive. John should continue the business because accounting profits are higher than economic profits. John should not continue the business because economic profits are less than accounting profits.Question Recently, the owner of KFC Franchise decided to change how she compensated her top manager. Last year, the manager received a fixed salary of $50,000 and KFC made $110,000 in profits (excluding the manager’s compensation). She feared that her store’s performance was connected to the top manager shirking on the job and expected that changes to her top manager’s compensation structure would improve sales. Therefore, this year she decided to offer him a fixed salary of $40,000 plus 5 percent of the store’s profit. Since the change, the store is performing much better, and she forecasts profits this year to be $300,000 (again, excluding the manager’s compensation). Assuming the change of compensation is the reason for the increased profits, and the forecast is accurate, how much more money will the owner make (net of payment to her top manager) because of this change? Does the manager make more money under the new payment scheme?Explain 5 employee attendance problems in an organization
- Case B: Jessie Pharmacy. Jessie, a pharmacist, is planning on opening her own pharmacy. Jessie Pharmacy is expected to generate yearly revenue of $500,000. Jessie will run the pharmacy herself on full-time basis. Jessie’s alternative employment options are as follows: Continue to work as a senior medical representative for $50,000 per year. Accepts a research position in another company for $70,000 per year. Jessie expects to spend $350,000 per year on purchasing drugs and cosmetics for resale to her customers. She will also need to hire three employees: an assistant, an accountant and a custodian, for whom the total salaries to be paid are expected to be $48,000 per year. Jessie owns the building in which her pharmacy is supposed to be; however, she could rent out the pharmacystore space for $42,000 per year. Calculate Jessie’s accounting profit and economic profit. In your opinion, should Jessie proceed with opening her own pharmacy? Justify your answerLast year, Jarod left a job that pays $80,000 to run his own bike repair shop. Jarod’s shop charges $65 for a repair, and last year the shop performed 5,000 repairs. Jarod’s production costs for the year included rent, wages, and equipment. Jarod spent $60,000 on rent and $120,000 on wages for his employees. Jarod keeps whatever profit the shop earns but does not pay himself an official wage. Jarod used $30,000 of his savings to buy a machine for the business. His savings were earning an annual interest rate of 4 percent. a. What is Jarod’s annual accounting profit? b. What is Jarod’s annual economic profit?Sandra lives in Melbourne and runs a business that sells guitars. In an average year, she receives $2.6 millionfrom sales of guitars. Of this sales revenue, she must pay the manufacturer a wholesale cost of $1,400,000. She also pays wages and utility bills totalling $1,100,000. If she does not operate this guitar business, she can work in an accounting firm and receive an annual salary of $70,000. She owns her showroom. If she chooses to rent it out, she will receive $50,000 in rent per year. Assume that the value of this showroom does not depreciate during the year. No other costs are incurred in running this guitar business. What is Sandra’s accounting profit (used for tax purposes)? What is her economic profit?
