Chapter 9.I, Problem 6TIE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

Mike Lamb sells copiers for Royal Business Products. He is on an incremental commission schedule of 1.7% of sales up to $100,00 and 2.5% on sales greater than $100,000. What was Mike’s total gross pay last month if his sales volume was $184,600?

To determine

**To calculate:** The Mike Lamb’s total gross pay for last month, if he works for Royal Business Products and his sales volume was $184,600. He is on an incremental commission schedule, if sales are up to $100,000 commission rate is 1.7% and for sales greater than $100,000 commission rate is 2.5%.

Explanation

**Given Information:**

The provided sales volume is $184,600 and if sales are up to $100,000 commission rate is 1.7% and for sales greater than $100,000 commission rate is 2.5%.

**Formula used:**

To calculate gross pay by incremental commission:

Step 1: Calculate the pay at each level by multiplying the total sales and the commission rate for that level.

Step 2: Calculate the total gross pay by adding the pays from each level.

**Calculation:**

As Mike Lamb’s sales volume is $184,600, commission rate is 1.7% for sales up to $100,000 and commission rate is 2.5% for sales more than $100,000,

So, he has commission rate 2.5% for sales of

Now to find Mike Lamb’s total gross pay first find his level wise pay.

To calculate level 1 pay, consider rate of commission and sales volume,

1.7% and $100,000

As,

Apply the above formula,

Sect-9.I P-1TIESect-9.I P-2TIESect-9.I P-3TIESect-9.I P-4TIESect-9.I P-5TIESect-9.I P-6TIESect-9.I P-7TIESect-9.I P-8TIESect-9.I P-1RESect-9.I P-2RE

Sect-9.I P-3RESect-9.I P-4RESect-9.I P-5RESect-9.I P-6RESect-9.I P-7RESect-9.I P-8RESect-9.I P-9RESect-9.I P-10RESect-9.I P-11RESect-9.I P-12RESect-9.I P-13RESect-9.I P-14RESect-9.I P-15RESect-9.I P-16RESect-9.I P-17RESect-9.I P-18RESect-9.I P-19RESect-9.I P-20RESect-9.I P-21RESect-9.I P-22RESect-9.I P-23RESect-9.I P-24RESect-9.I P-25RESect-9.I P-26RESect-9.I P-27RESect-9.I P-28RESect-9.II P-9TIESect-9.II P-10TIESect-9.II P-11TIESect-9.II P-12TIESect-9.II P-1RESect-9.II P-2RESect-9.II P-3RESect-9.II P-4RESect-9.II P-5RESect-9.II P-6RESect-9.II P-7RESect-9.II P-8RESect-9.II P-9RESect-9.II P-10RESect-9.II P-11RESect-9.II P-12RESect-9.II P-13RESect-9.II P-14RESect-9.II P-15RESect-9.II P-16RESect-9.II P-17RESect-9.II P-18RESect-9.II P-19RESect-9.III P-13TIESect-9.III P-14TIESect-9.III P-15TIESect-9.III P-16TIESect-9.III P-17TIESect-9.III P-1RESect-9.III P-2RESect-9.III P-3RESect-9.III P-4RESect-9.III P-5RESect-9.III P-6RESect-9.III P-7RESect-9.III P-8RESect-9.III P-9RESect-9.III P-10RESect-9.III P-11RESect-9.III P-12RESect-9.III P-13RECh-9 P-1CRCh-9 P-2CRCh-9 P-3CRCh-9 P-4CRCh-9 P-5CRCh-9 P-6CRCh-9 P-7CRCh-9 P-8CRCh-9 P-9CRCh-9 P-10CRCh-9 P-11CRCh-9 P-12CRCh-9 P-13CRCh-9 P-14CRCh-9 P-1ATCh-9 P-2ATCh-9 P-3ATCh-9 P-4ATCh-9 P-5ATCh-9 P-6ATCh-9 P-7ATCh-9 P-8ATCh-9 P-9ATCh-9 P-10ATCh-9 P-11ATCh-9 P-12ATCh-9 P-13ATCh-9 P-14ATCh-9 P-15ATCh-9 P-16ATCh-9 P-17ATCh-9 P-18ATCh-9 P-19ATCh-9 P-20ATCh-9 P-21ATCh-9 P-22ATCh-9 P-23ATCh-9 P-24AT

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