Ona is an automobile salesperson who receives a salary of $1,500 per week plus a commission of 3% on all sales. During a four-week period, Ona sold $42,000 worth of cars. What were Ona's average earnings? Multiple Choice Ο Ο Ο Ο Ο $1,500 $1,760 $2,670 $1,500 None of the answer choices are correct.

Ona is an automobile salesperson who receives a salary of $1,500 per week plus a commission of 3% on all sales. During a four-week period, Ona sold $42,000 worth of cars. What were Ona's average earnings? Multiple Choice Ο Ο Ο Ο Ο $1,500 $1,760 $2,670 $1,500 None of the answer choices are correct.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 55P

See similar textbooks

Similar questions

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.
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 =
Bea owner of an automotive dealership, pays one of the salesman, mike a $1,300 draw per week plus 6% on all commissions sales. Mike sold seven cars over the four week period, totaling $186,900 for the month. mike's commission minus the draw is:
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?
Terry is a salesman who has a monthly salary of 25,000 pesos. His total sales for the month amount to 170,000 pesos. How much is his GROSS INCOME for the month if: a. he is paid 4% of his total sales? b. each product costs 2,125 pesos and he is paid 87 pesos for each product he sold? c. he is paid 3% of sales up to 100,000 pesos, 5% of the next 50,000 pesos, and 7.5% of sales beyond 150,000 pesos? d. if he has a quota of 150,000 pesos and he is paid 36% of all sales in excess of that quota?
Brenda Sheldon, CPA, pays her new staff accountant, Abby , a salary equivalent to $21 per hour while Brenda receives a salary equivalent to $37 per hour. The firm's predetermined indirect cost allocation rate for the year is $11 per hour. Sheldon bills for the firm's services at 34% over cost. Assume Brenda works 6 hours and Abby works 8 hours preparing a tax return for Mikayla Touchstone. 1. What is the total cost of preparing Touchstone's tax return? 2. How much will Brenda bill Touchstone for the tax work?
Ester has a small store. For the current month, she purchased merchandise costing 75000 for which she paid for 7500. She sold 60% of the merchandise for 68000, after spending for various expenses totaling 13000. She also paid 2000 for the interest on a money she borrowed for her store. a. How musch was her cost of sales?b. How much gross profit did she make?c. How much operating profit did she make?
Kate is an executive for the Cozy Furniture Manufacturing Company. She purchased furniture from the company for $9,500, the price Cozy ordinarily would charge a wholesaler for the same items. The retail price of the furniture was $12,500, and Cozy’s cost was $9,000. The company also paid for Kate’s parking space in a garage near the office. The parking fee was $600 for the year. All employees are allowed to buy furniture at a discounted price comparable to that charged to Kate. However, the company does not pay other employees’ parking fees. Kate’s gross income from the above is: answer choices: $3,500. $4,100. $-0-. $900 $600.
BM Motors, Inc. employs 40 sales personnel to market its line of luxury automobiles. Theaverage car sells for P1,200,000 and a 6% commission is paid to the salesperson. BM Motorsis considering a change to a commission arrangement that woul d pay each salesperson a salaryof P24,000 per month plus a commission of 2% of the sales made by that salesperson.The amount of total car sales at which BM Motors would be indifferent as to which plan to selectis A. P22,500,000 C. P24,000,000B. P30,0 00,000 D. P12,000,000
Melissa recently paid $400 for round-trip airfare to San Francisco to attend a business conference for three days. Melissa also paid the following expenses: $250 fee to register for the conference, $300 per night for three nights' lodging, $200 for meals in restaurants, and $150 for cab fare. a) What amount of these costs can Melissa deduct as business expenses? b) Suppose that while Melissa was on the coast, she also spent two days sightseeing the national parks in the area. To do the sightseeing, she paid $1,000 for transportation, $800 for lodging, and $450 for meals during this part of her trip, which she considers personal in nature. What amount of these costs can Melissa deduct as business expenses? c) Suppose that Melissa made the trip to San Francisco primarily to visit the national parks and only attended the business conference as an incidental benefit of being present on the coast at that time. What amount of the airfare can Melissa deduct as a business expense? d) Suppose…
James was a high school teacher earning a net salary of $4500 per month. Afterworking for one year, he quit his job to start his own kiosk business dealing in variousconsumer goods. In order to learn how to run the business, James enrolled in aTAFE to acquire accounting skills. James’ course was for 6 months. James had topay $3,000 as tuition for the 3 months.After the training, James borrowed $40,000.00 from his uncle whom he pays 8percent interest per year.Also, James withdrew $ 50,000 from his savings account. He had been earning 5percent interest per year for this account. Further, to start the business James usedhis own premises given to him by his father.His father had been receiving $11,000 from rent per year. Finally, to start thebusiness James uses $75,000 he had been given by his father to go on holiday toUSA.James’s first year of business can be summarised as follows: Item Amount $Revenue- Orange section 250,000Revenue- Beverages Section 180,0002 Cashiers expense (wages…
James was a high school teacher earning a net salary of $4500 per month. Afterworking for one year, he quit his job to start his own kiosk business dealing in variousconsumer goods. In order to learn how to run the business, James enrolled in aTAFE to acquire accounting skills. James’ course was for 6 months. James had topay $3,000 as tuition for the 3 months.After the training, James borrowed $40,000.00 from his uncle whom he pays 8percent interest per year.Also, James withdrew $ 50,000 from his savings account. He had been earning 5percent interest per year for this account. Further, to start the business James usedhis own premises given to him by his father.His father had been receiving $11,000 from rent per year. Finally, to start thebusiness James uses $75,000 he had been given by his father to go on holiday toUSA.James’s first year of business can be summarised as follows: items amount revenue - orange section 250,000 revenue- beverages section 180,000 2 cashiers…