A. Ronel is a broker who earns a commission of 3½% of all securities sales that he makes. For the past year, he closed sales totaling ₱928, 867. Find the amount of commission he earned for the year. B. Richard is a sales representative receiving an annual salary of ₱120,000 plus commission on all his sales above the quota of ₱25, 000 in accordance with the following schedule: First ₱30,000 above quota - 12% Next ₱50,000 - 1% Next ₱70, 000 - 2% Over ₱150, 000 - 3% Compute his gross earnings and his sales for the month: a.) ₱37,900 b.) ₱58,200 c.) ₱92, 300

A. Ronel is a broker who earns a commission of 3½% of all securities sales that he makes. For the past year, he closed sales totaling ₱928, 867. Find the amount of commission he earned for the year. B. Richard is a sales representative receiving an annual salary of ₱120,000 plus commission on all his sales above the quota of ₱25, 000 in accordance with the following schedule: First ₱30,000 above quota - 12% Next ₱50,000 - 1% Next ₱70, 000 - 2% Over ₱150, 000 - 3% Compute his gross earnings and his sales for the month: a.) ₱37,900 b.) ₱58,200 c.) ₱92, 300

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter11: Property Dispositions

Section: Chapter Questions

Problem 93DC

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