2. Matt is a Product Manager earning a semi-monthly salary of P5 500. He is given commission of 2.5% on his own sales and an override of 0.5% on his men's sales. His men are entitled to a 3.75% commission on their own sales and a basic semi-monthly salary of P4 000. Matt and his men are given transportation allowance of P2 000 per month. Compute for the gross earnings of Matt and each of his men.
Q: B. F. Goodson employs Eduardo Gonzales at a salary of $48,000 a year. Goodson is subject to employer…
A: Total cost means the sum of all the expenditure. Total cost also means the sum of fixed cost and…
Q: 3. Jane receives a basic pay of P9,880.00 a month and a 2% commission on her sales. She sold…
A: 3. Basic Pay = P9,880 Gross Earnings = P105,000 x 2% + P9880 = P11,980 Deductions: SSS = 4% X P9880…
Q: An appliance company has three installers. Larry earns $395 per week, Curly earns $440 per week, and…
A: (a) calculate SUTA and FUTA tax (in $) does the company owe for the first quarter of the year and…
Q: Damien Carranza is a non-exempt employee for Verent Enterprise where he is a salesperson, earning a…
A: Gross pay is the sum of: Regular pay Commission Overtime pay
Q: The chief executive officer earns $10,020 per month. As of May 31, her gross pay was $50,100. The…
A: please like the answer your response matters Answer: Gross Annual income = $ 10,020 x 12 = $…
Q: Mark Diesel owns the Fredonia Barber Shop. He employs 7 barbers and pays each a base salary of…
A: Total unit variable cost per haircut = Commission expense + Utilities expense + Barber supplies…
Q: 5. Evelyn Watterson sells cosmetics for Final Touch, Inc. She is guaranteed a salary of $650 a month…
A: Evelyn Watterson's gross pay will be greater from both the options.
Q: Universal Exporting has three warehouse employees: John Abner earns $422 per week, Anne Clark earns…
A: SUTA and FUTA are the payroll tax paid by the employers in the state and federal funds made for the…
Q: basic
A: Gross earnings= basic salary plus 2% commission on sales
Q: A worker is paid $10,000 per month and a dearness allowance of $2,000 p.m. Worker Contribution to…
A: Basic salary includes wages and dearness allowance. Contribution to provident fund is calculated on…
Q: Sky Co. employed Tom Mills in Year 1. Tom earned $5,300 per month and worked the entire yearAssume…
A: Tax refers to the financial charge which is compulsory in nature and it is imposed through the…
Q: Raymond Moss, vice president of Moss Auto Parts, gets an annual bonus of 15% of any income, before…
A: A bonus is monetary recompense that exceeds the recipient's usual payment expectations. Bonuses can…
Q: An appliance company has three installers. Larry earns $345 per week, Curly earns $480 per week, and…
A: FUTA: FUTA means the "Federal Unemployment Tax Act" which provides for the levy of tax on the wages…
Q: Mrs. Camelia owns a cake business and employs five employees at a monthly salary of RM2,000 per…
A:
Q: An appliance company has three installers. Larry earns $325 per week, Curly earns $470 per week, and…
A: Given that, Larry earns $325 per week Curly earns $470 per week Moe earns $575 per week The…
Q: Juan earns the basic salary of P44,000 a month. His daily compensation rate is P2,000. For the…
A: Vacation leave with pay means that the employee can take a pre-fixed number of vacation leave days…
Q: 2. JYD Accounting Firm pays its employees at a rate of P50/hr. The tax and other deductions amount…
A: “Since you have asked for 2nd question, we will solve the same for you. If you want any other…
Q: gross earnings per pay period
A: Salary for a year (A) $68,000 Number of weeks in a year (B) 52 Gross earnings per week (C = A/B)…
Q: The company has the following list of employees: a) Manager with daily salary of P1,000 b) 2 sales…
A: Total Manager salary accrued = daily salary x 2 days = 1000 x 2 = P2,000 Sales staff salary accrued…
Q: 3. A. Luna is a sales agent. His official working hours is 8 hours a day, with a monthly salary of…
A: Gross Pay will be Particulars Amount Salary for the month P33,000 Add: Allowances…
Q: Tanya Lynn is married with four withholdings and earns a base salary of $75,000. On all sales, she…
A: Payroll register of a business shows all details related to payroll of employees like salary,…
Q: An appliance company has three installers. Larry earns $345 per week, Curly earns $470 per week, and…
A: Wages are the earnings earned by the factory workers of a corporation. Wages are treated as a direct…
Q: 1. Compute for his withholding tax for the month of March given that he had overtimes amounting to…
A: A withholding tax is an amount that an employer withholds from employees’ wages and pays directly…
Q: To test and assess what you have learned from this module, let us now compute the following. 1.…
A: The gross earning of salesperson includes the fixed pay and sales commission as a percentage of…
Q: 4. Miguel receives a basic salary of P13,750 a month. He also receives a bonus of 5% of the amount…
A: Earnings is the total amount earned by the individual in the particular period. It can be in the…
Q: Peter works for Company G and gets paid monthly. He made $8,500 throughout the month of January.…
A: Compensation is a monetary or non-monetary payment paid in exchange for services provided. Base…
Q: An appliance company has three installers. Larry earns $345 per week, Curly earns $420 per week, and…
A: SOLUTION- IN THE GIVEN CASE , FIRST WE HAVE TO ASCERTAIN THE TOTAL WAGES OF THESE THREE INSTALLERS…
Q: Sange earns a salary of $48,200 per year and is paid on a bi-weekly basis he also earns a 2%…
A: Given the following information: Sange earns a salary of $48,200 per year He is paid on a bi-weekly…
Q: Humaid is paid a 7% commission on all sales. He sold goods worth RO 15,000 in a month. What is his…
A: Gross pay is the money that a person received without making any deductions.
Q: Sange earns a salary of $48,200 per year and is paid on a bi-weekly basis he also earns a 2%…
A: The answer of above question is given below:
Q: Jamie receives a basic pay of P29,880 a month and a 2% commission on her sales. She sold P505,000 in…
A: Based on the given information, Gross Pay = P29,880+2%P505,000=P29,880+P10,100=P39,980 Based on the…
Q: Mr Smith's annual salary is $45,000. His regular workweek consists of four 10-hour workdays. He is…
A: Biweekly and bimonthly can mean the same thing because of the prefix bi-, which here can mean…
Q: The chief executive officer earns $10,120 per month. As of May 31, her gross pay was $50,600. The…
A: please like the answer your response matters Answer: Gross Annual income = $ 10,020 x 12 = $…
Q: Mrs. Camelia owns a cake business and employs five employees at a monthly salary of RM2,000 per…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: 2. Evelyn sells OHP projectors for WSS Tech Products. She is on incremental or graduated commission…
A: Commission refers to the amount or fee paid by the company to its salesperson for the service…
Q: Mr. Bilal receives OMR 4000 monthly salary. He also receives a variable commission on net sales…
A: The gross pay is the sum total of the fixed salary amount and the total commission earned on the net…
Q: An appliance company has three installers. Larry earns $375 per week, Curly earns $490 per week, and…
A: FUTA stands for “Federal Unemployment tax Act” and SUTA stands for “State Unemployment tax Act.”…
Q: s salary last month
A: Value of sales $11000 Amount of sales over $5000 = $11000 - $5000 (A) $6000 Rate of commission…
Q: Zolnick Enterprises has two hourly employees-Kelly and Jon. Both employees earn overtime at the rate…
A: Bonus rate for Kelly = $22 x 1.5 times = $33 Bonus rate for Jon = $27 x 1.5 times = $40.5
Q: Harry Santana manages a Frosty Boy drive-in. His straight-time pay is $19 per hour, with…
A: Formula: Net Pay = Gross pay - all deductions Deductions are taken out from gross pay derives the…
Q: JYD Accounting Firm pays its employees at a rate of $50/hr. The tax and other deductions amount to…
A: Gross pay is the total amount that is being payable to workers either on the basis of number of…
Q: ABC Quezon Avenue, Inc. is a dealer of trucks and automobiles. ABC distributes annual bonuses to its…
A: Total bonus % = 3% to Vice president + 1% each to division managers = 3% + 1% x 3 = 6%
Q: 5. Mike Lasueze is a salesperson in the appliance department at Wicklow Appliance Inc. He is…
A: Minimum salary = $ 220 Weekly sale = $ 8400 Pay rate = 5.5% of sale Salary as per sale = 8400*0.055…
Q: Rick O’Shea, the only employee of Hunter Furniture Company, makes $30,000 per year and is paid once…
A: Employee is liable for some payroll taxes. Hence while paying the wages, employer deducts the…
Q: An appliance company has three installers. Larry earns $375 per week, Curly earns $440 per week, and…
A: (a) Larry earns $375 per week (b) Curly earns $440 per week (c) Moe earns $595 per week (d) It is…
Q: hour, with Mr. Juan, an employee, has a pay rate of P125 time and a half for hours worked in excess…
A: Net Pay = Gross Salary - SSS Deduction - PhilHealth - Pag-IBIG - Withholding Tax
Q: Suppose that an entry level policeman has a basic salary of P33,575 per month. He has to pay monthly…
A: Net Income is the money of pay remaining for issuance to the employees after deducting the…
Q: Wendy Epstein, a sales representative, earns an annual salary of $32,700 and receives a commission…
A: a. Calculate the regular annual salary of person WE.Regular annual salary is $32,700 (given).
Q: ABC Quezon Avenue, Inc. is a dealer of trucks and automobiles. ABC distributes annual bonuses to its…
A: Total bonus % = 3% to Vice president + 1% each to division managers = 3% + 1% x 3 = 6%
answer number 2 only with complete solution
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- Maria Cohen is employed as a salesperson in the mens department of Lees Fashions. In addition to her weekly base salary of 400 (35-hour week), Cohen is paid a commission of 1% on her total net sales for the week (total gross sales less any customer returns). During the past week, to promote the sale of its fine cashmere sweaters, Lees agreed to pay Cohen an additional PM (push money) of 3% of the total net sales of cashmere sweaters. Cohens weekly sales tally is given below. Compute Cohens total weekly earnings, showing her (a) weekly base salary, (b) commission, (c) PM, and (d) total weekly earnings.Elliott, Inc., has four salaried clerks to process purchase orders. Each clerk is paid a salary of 25,750 and is capable of processing as many as 6,500 purchase orders per year. Each clerk uses a PC and laser printer in processing orders. Time available on each PC system is sufficient to process 6,500 orders per year. The cost of each PC system is 1,100 per year. In addition to the salaries, Elliott spends 27,560 for forms, postage, and other supplies (assuming 26,000 purchase orders are processed). During the year, 25,350 orders were processed. Required: 1. Classify the resources associated with purchasing as (1) flexible or (2) committed. 2. Compute the total activity availability, and break this into activity usage and unused activity. 3. Calculate the total cost of resources supplied (activity cost), and break this into the cost of activity used and the cost of unused activity. 4. (a) Suppose that a large special order will cause an additional 500 purchase orders. What purchasing costs are relevant? By how much will purchasing costs increase if the order is accepted? (b) Suppose that the special order causes 700 additional purchase orders. How will your answer to (a) change?Now assume that it is several years later. The brothers are concerned about the firm’s current credit terms of net 30, which means that contractors buying building products from the firm are not offered a discount and are supposed to pay the full amount in 30 days. Gross sales are now running $1,000,000 a year, and 80% (by dollar volume) of the firm’s paying customers generally pay the full amount on Day 30; the other 20% pay, on average, on Day 40. Of the firm’s gross sales, 2% ends up as bad-debt losses. The brothers are now considering a change in the firm’s credit policy. The change would entail: (1) changing the credit terms to 2/10, net 20, (2) employing stricter credit standards before granting credit, and (3) enforcing collections with greater vigor than in the past. Thus, cash customers and those paying within 10 days would receive a 2% discount, but all others would have to pay the full amount after only 20 days. The brothers believe the discount would both attract additional customers and encourage some existing customers to purchase more from the firm—after all, the discount amounts to a price reduction. Of course, these customers would take the discount and hence would pay in only 10 days. The net expected result is for sales to increase to $1,100,000; for 60% of the paying customers to take the discount and pay on the 10th day; for 30% to pay the full amount on Day 20; for 10% to pay late on Day 30; and for bad-debt losses to fall from 2% to 1% of gross sales. The firm’s operating cost ratio will remain unchanged at 75%, and its cost of carrying receivables will remain unchanged at 12%. To begin the analysis, describe the four variables that make up a firm’s credit policy and explain how each of them affects sales and collections.
- Markson and Sons leases a copy machine with terms that include a fixed fee each month of $500 plus a charge for each copy made. The company uses the high-low method to analyze costs. If Markson paid $360 for 5,000 copies and $280 for 3,000 copies, how much would Markson pay if it made 7,500 copies?Sharon is a manufacturer's representative selling office furniture directly to businesses. She receives a monthly salary of $2000 plus a 2.2% commission on sales exceeding her quota of $150,000 per month. a. What are her earnings for a month in which she has $227,000 in sales? (Round your answer to the nearest cent.) Earnings = b. If her average monthly sales are $235,000, what straight commission rate would generate the same average monthly earnings as her current basis of remuneration? (Round your answer to four decimal places.) Commission rate =Len-Len is a saleslady who has a monthly salary of ₱22,500. Her total sales for the month amount to ₱65,000. How much is her GROSS INCOME for the month: a) if each product costs ₱520 and he is paid ₱46 for each product he sold? b) if she is paid 8% of sales up to ₱50,000, 12% of the next ₱30,000.00 and 15% of sales beyond ₱80,000.00?
- The sales manager is deciding between two possible compensation structures for sales staff. Under one plan, salespeople would receive a base compensation of $80,000 per year plus a 1% commission on all sales to their customers. Under the other plan, the base compensation would drop to $40,000 per year, but the commission rate would increase to 5%. What are the advantages and disadvantages, to the company of both plans? As the accounting manager, would you have a preference? Why or why not? (answer in text form please (without image), Note: .Every entry should have narration please)Banner House Inc. gives all its sales people a base salary of $37,000 per annum and a commission of 15% on all banners that they sell over $4,000. Calculate Jenna's salary last month if he sold $8,000 worth of banners.Sergio has a chance to work at one of two firms. Scantor will give him a salary of 700 a month, a commission of 3% on total monthly sales, and a 3% more on monthly sales over 70,000. Fletcher offers him a commisiion of 2.5% on the first 45,000 of monthly sales, 4%, on the next 20,000 of monthly sales and 7% on all montlhy sales over 65,000. If Sergio could average 90,000 in sales a month at either job, at which job could he earn more per month, and how much more?
- Wendy Epstein, a sales representative, earns an annual salary of $32,700 and receives a commission on that portion of her annual sales that exceeds $150,000. The commission is 9.5% on all sales up to $50,000 above the quota. Beyond that amount, she receives a commission of 11.0%. Her total sales for the past year were $290,000. Compute the following amounts: a. The regular annual salary $ b. The commission $ c. The total annual earnings $Which of the following is an example of Step Costs? Select one: 1. A company’s advertisement assistant is paid $100 for every new partner who agrees to distribute the company’s marketing materials. 2. The salary of a company’s social media manager is $2,500 per month. The monthly salary of the head of the marketing department is $4,000. 3. A company employs a salesperson whose salary is $3,000 per month. Once the monthly sales exceed $100,000, the salesperson receives the commission of 8% of the sales made. 4. A sales company needs one manager for up to 100 clients, 2 managers for 101 to 200, and so forth as the number of clients increases.A sales supervisor whose monthly salary is ₱38,500.00 is paid 7% of his total sales and 3% of the total sales of his subordinates. If his total sales for the month amount to ₱250,000.00 and that of his subordinates is ₱425,000.00, determine the following: b. How much is his total commission?