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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Dory Schrader is a buyer for Oceans of Notions. She is paid a weekly salary of $885 plus a 4% commission on sales over $45,000. If her sales were $62,000 last week, what was her total gross pay?

To determine

To calculate: The Dory Schrader’s total gross pay, if her sales for last week were $62,000, her per week salary is $885 and she gets a commission of 4% on all sales over $45,000. She works as a buyer for Oceans of Notions.

Explanation

Given Information:

The provided sales volume is $62,000 and Dory Schrader’s per week salary is $885 and she gets a commission of 4% on all sales over $45,000.

Formula used:

To calculate commission:

Commission=Commission rate+Sales subject to commission

To calculate total gross pay:

Total gross pay=Salary+Commission

Calculation:

As Dory Schrader’s sales volume is $62,000 and she gets a commission of 4% on all sales over $45,000,

So, she gets commission of 4% for sales of $62,000$45,000=$17,000.

Now to find Dory Schrader’s total gross pay first find her commission for the last week,

To calculate her commission for the last week, consider rate of commission and sales volume,

4% and $17,000

Apply the formula, Commission=Commission rate+Sales subject to commission:

Commission=4%×$17,000=4100×$17,000=0.04×$17,000

As,

$17,000×  0

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