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  =

PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN:9781337619783
Author:BIEG
Publisher:BIEG
Chapter2: Computing Wages And Salaries
Section: Chapter Questions
Problem 21PB: Maria Cohen is employed as a salesperson in the mens department of Lees Fashions. In addition to her...
icon
Related questions
Question

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  =

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
PAYROLL ACCT., 2019 ED.(LL)-TEXT
PAYROLL ACCT., 2019 ED.(LL)-TEXT
Accounting
ISBN:
9781337619783
Author:
BIEG
Publisher:
CENGAGE L
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
CONCEPTS IN FED.TAX., 2020-W/ACCESS
CONCEPTS IN FED.TAX., 2020-W/ACCESS
Accounting
ISBN:
9780357110362
Author:
Murphy
Publisher:
CENGAGE L
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub