Compute terrys gross pay for the 40-hour weekly pay

Reference no: EM133655572

Case: Bobi is a salaried exempt employee at Coric Industries. Bobi is married and filing jointly with two dependents under 17. The contract stipulates a 40-hour work week at $48,400 per year. During the week ending November 24, there was a company-paid holiday for one day.Terry, a single employee with two dependents under the age of 17, is paid $19.00 per hour and receives a commission on net sales for a company in Russelville, Oklahoma. No commission is received until net sales exceed $150,000. Once the minimum net sales are reached, the 2 percent commission on sales applies. During the week of January 27, there were $78,000 of sales; however, there were $2,700 of returns from the prior week's sales. Company policy requires that commissions on sales returns are deducted from the employee's pay, regardless of current commission earnings.

Required: Compute Terry's gross pay for the 40-hour weekly pay period. Note: Negative amount(s) should be indicated by a minus sign.

Reference no: EM133655572

Questions Cloud

Which is sometimes used as an indicator of insurers efforts : It can be difficult to evaluate an insurer's commitment to ESG. Which is sometimes used as an indicator of an insurer's efforts toward ESG targets?

What amount of cash did dr. popper collect : What amount of cash did Dr. Popper collect from customers in 20x3? Compute the company's net profit margin for the three years presented

Which devices provide information to jacob insurance company : Six months after switching to user-based auto insurance, Jacob was advised. Which devices would provide this information to Jacob's insurance company?

How much revenue should bark recognize from the memberships : On July 1, Bark sold 1,200 memberships and received cash. How much revenue should Bark recognize from the memberships on July 1

Compute terrys gross pay for the 40-hour weekly pay : Compute Terrys gross pay for the 40-hour weekly pay period. Note: Negative amount(s) should be indicated by a minus sign

Explain ways in which businesses can be more responsible : How business' attitudes to environmental issues have contributed to these problems and explain ways in which businesses can be more responsible to environment?

What amount should the corporation report : What amount should the corporation report in its 2023 income statement as current income tax expense?

How technology is impacting how you spend your leisure time : Describe how technology is impacting how you spend your leisure time. What major changes do you see in the entertainment industry in the next ten years?

What next to do with the fatal card was sickening problem : Based on this description, which word BEST describes Burwell? What next to do with the fatal card was the sickening problem that now possessed him?

User Account

All Pages