Denim Company offers sales people the following commission structure, withcommission being paid monthly:1.00% on the first $4,000 they sell,4.00% on the next $2,000 they sell, and4.50% thereafter on all sales they make.Erica, a new sales representative, made sales of $5,000 in her first month, $7,000 inher second month, and $6,200 in her third month.a. What were her total commissions for the first three months?Round to the nearest centb. What single commission rate would represent her total earnings throughout thefirst 3 months?

The commission is obtained by multiplying the sales price with the rate of commission. That is, the…

Answered: Denim Company offers sales people the…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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The sales commission of a pharmaceutical distribution company is structured such that its part-time sales representatives receive commissions of: 4.00% on the first $10,000 they sell, 6.00% on the next $10,000, 11.00% thereafter on all sales they make. Daniel, a new sales representative, made sales of $2,500 in his first month, $16,500 in his second month, and $37,000 in his third month. a. What was the commission in the first month? Round to the nearest cent b. What was the commission in the second month? Round to the nearest cent c. What was the commission in the third month? Round to the nearest cent d. What single commission rate would represent his total earnings throughout the first 3 months? Round to two decimal places
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,470 in assets to launch the business. On October 31, the company’s records show the following items and amounts. Cash $ 9,750 Cash withdrawals by owner $ 2,530 Accounts receivable 14,480 Consulting revenue 14,480 Office supplies 3,710 Rent expense 4,070 Land 45,970 Salaries expense 7,450 Office equipment 18,450 Telephone expense 810 Accounts payable 8,900 Miscellaneous expenses 630 Owner investments 84,470 Part 1 of 3 5points Item 2 Required information Skip to question [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,470 in assets to launch the business. On October 31, the company’s records show the following items and amounts. Cash $ 9,750 Cash withdrawals by owner $ 2,530 Accounts receivable…
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 in assets to launch the business. On October 31, the company’s records show the following items and amounts. Cash $ 14,890 Cash withdrawals by owner $ 930 Accounts receivable 12,820 Consulting revenue 12,820 Office supplies 2,290 Rent expense 2,530 Land 45,960 Salaries expense 5,780 Office equipment 16,900 Telephone expense 790 Accounts payable 7,670 Miscellaneous expenses 610 Owner investments 83,010 Using the above information prepare an October statement of owner's equity for Ernst Consulting.
The time period during which the invoice is to be paid is called _______. a. None of the options b. Discount period c. Discount rate d. Credit period
The following question is based on the following information about the stocks of Whitestone REIT, HCC Insurance Holdings, Inc., and SanDisk Corporation.† Price($) Dividend Yield(%) WSR(WSR Whitestone REIT) 16 7 HCC(HCC Insurance Holdings, Inc.) 56 2 SNDK(SanDisk Corporation) 80 2 You invested a total of $10,400 in shares of the three stocks at the given prices, and expected to earn $248 in annual dividends. If you purchased a total of 200 shares, how many shares of each stock did you purchase? WSR= HCC= SNDK=
Tom sells mutual funds on a graduated commission structure. He receives 3.3% on the first 50,000 of sales in a month, 4.4% on the next $50,000, and 5.5% on all further sales. What are his gross earnings for a month in which he sells $140,000 worth of mutual funds?
Are revenues independent of the expansion decision?
Brody’s gross monthly salary amounts to ₱34,600.00 per month subject to the following deductions: SSS contribution - ₱481.30, PhilHealth contribution - ₱212.50, PAG-IBIG contribution - ₱120.00. His withholding tax is ₱3,905.80 per month. Furthermore, he is married with two dependents under his name b. Determine his income tax due at the end of the year and his income tax payable
Olive Branch is a writer of romance novels. A movie company and a TV network both want exclusive rights to one of her most popular works. If she signs with the network she will receive a single lump sum, but if she signs with the movie company, the amount she will receive depends on the market response (box office) to the movie. Olive's payoffs are summarized: Box Office Small Medium Large Movie Company $200,000 1,000,000 3,000,000 TV network 900,000 900,000 900,000 Probability 0.3 0.6 0.1 1. Without any additional information, what is Olive’s best decision? Additionally, Olive may hire a market research firm to conduct a survey at a cost of $100,000. The result of the survey would be either a "F"avorable or an "U"nfavorable public response to the movie. The firm's historical accuracy, as measured by conditional probabilities is: P("F"|Small) = .3 P("U"|Small)…
In a telephone survey of 1000 adults, respondents were asked about the expenses on a management education and relative necessity of some form of financial assistance. The respondents were classified according to whether they currently had a child studying in a school of management and whether they thought that the loan burden for most management students is too high, right amount, or too little. The proportions responding in each category are given below: Too High(A) Right Amount(B) Too Little(C) Child Studying 0.35 0.08 0.01management (D)No Child Studying 0.25 0.20 0.11Management (E) Suppose one respondent is chosen at random from this group. Then (i) What is the probability that the respondent has a child studying management?(ii) Given that the respondent has a child studying management, what is the probability that he/she ranks the loan burden “too…
Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 11,000 Selling price per unit $ 16 Variable selling expense per unit $ 1 Variable administrative expense per unit $ 2 Total fixed selling expense $ 21,000 Total fixed administrative expense $ 16,000 Beginning merchandise inventory $ 11,000 Ending merchandise inventory $ 23,000 Merchandise purchases $ 85,000 Complete this question by entering your answers in the tabs below. Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Sales $176,000 Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses 0 Net operating income

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