User Account

All Pages

Question - Calculate Gross Pay with Commissions

Assignment Help Accounting Basics
Reference no: EM132713321

Question - Calculate Gross Pay with Commissions

Calculate gross pay for each of the following employees. All are paid an overtime wage rate that is 1.5 times their respective regular wage rates.

NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.

1: Samuel Worthy earns both $8.50/hour and a 11% commission on all sales. During the most recent week, he worked 44 hours and made total sales of $13,000.

2: Charlotte Denning earns both $10/hour and $29 for every sale she completes. During the most recent week, she worked 49 hours and made a total of 65 sales.

3: James Finch earns both $11.70/hour and a 12% commission on all sales. During the most recent week, he worked 45 hours and made total sales of $7,200.

4: Keri Weinberg earns both $10/hour, $10 for every sale of Product A, and $14 for every sale of Product B. During the most recent week, she worked 54 hours and sold 26 units of Product A and 41 units of Product B.

5: Tom Wilson earns both $16.10/hour and a 16% commission on all sales. During the most recent week, he worked 46 hours and made total sales of $14,500.

Reference no: EM132713321

Questions Cloud

Calculate estimated cost of the destroyed ending inventory : A clothing retailer of high-end ladies fashions, had their inventory destroyed in a flood. Calculate estimated cost of the destroyed ending inventory
Purchase some ham : Carrie visited a neighborhood store to purchase some ham, which a salesperson cut by machine in the store
Determine the current ratio and the quick ratio : The following items are reported on a company's balance sheet: Accounts receivable (net) 110,000. Determine the current ratio and the quick ratio
View on the USA PATRIOT Act : Societal implications of the USA PATRIOT Act and related legislation limiting daily behaviors
Question - Calculate Gross Pay with Commissions : Question - Calculate Gross Pay with Commissions - Samuel Worthy earns both $8.50/hour and a 11% commission on all sales
Fundamental issue established at the outset : A fundamental issue established at the outset of this course is the fact that becoming involved in terrorist activities is a process,
One of most fundamental issues in business law : One of the most fundamental issues in business law involves the question of when a company can be held liable for the acts of an individual person,
Consumer protection is important issue : Consumer protection is an important issue, but how much responsibility should the government have in protecting the consumer?
What amount will Kingbird receive : Kingbird Inc. issues $2,400,000 of 7% bonds due in 12 years with interest payable at year-end. What amount will Kingbird receive

Reviews

Write a Review

Accounting Basics Questions & Answers

  What will the savings be on hundred million units

Current cost to source from the home plant, What will the savings be on 100 million units if sourcing for Country A switches from the home plant to Country B?

  Proposed format of the statement of comprehensive income

The FASB and IASB are working on a proposed format of the statement of comprehensive income. Do you prefer this format to the current formats? Why or why not

  Rand company sells fine collectible statues and has

rand company sells fine collectible statues and has implemented activity-based costing. costs in the shipping

  Prepare an owner equity statement

Prepare an owner's equity statement for the month of June. Prepare a balance sheet at June 30.

  What are the properties of a set of numerical data

What are the properties of a set of numerical data?- What is meant by the property of central tendency?- How do you interpret the first quartile, median, and third quartile?

  Which product line is more profitable for zippyzippy

Which product line is more profitable for ZippyZippy? Compute the gross profit per wheel if managers rely on the ABC unit cost data.

  Prepare a balance sheet as of the end of the first year

To establish the company, the two owners contributed a total of $50,000 in exchange for common stock. Prepare a balance sheet as of the end of the first year

  Compute break even for the organization as a whole

Compute break even for the organization as a whole and express the result in revenues instead of the number of performances

  How do explain the rules of debits and credits

How do explain the rules of debits and credits as they relate to assets, liabilities, equity, revenue, and expenses. Do debits always increase an account?

  What recommendations do you have for tornado

Julius I. Tornado is the chief operating officer of Green Valley. One day last week he came to your office. What recommendations do you have for Tornado?

  Prepare and explain smith statement of cash flows

The company reported net income for 2013 of $80,000. Required: Prepare and explain Smith's Statement of Cash Flows for 2013

  Fallen capitalize for intangible assets

During the year, Fallen spent $7,500 on product development and paid $10,000 in continuing franchise fees. What amount should Fallen capitalize for intangible assets in 2010?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd