Serges graduated commission scale pays him 3% on his first $30,000 in sales, 4% on the next

Question:

Serge’s graduated commission scale pays him 3% on his first $30,000 in sales, 4% on the next $20,000, and 6% on all additional sales in a month. What is his average commission rate on sales for a month totalling:
a. $60,000?
b. $100,000?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 06:29 AM

See More Questions

Julio is paid on a graduated commission scale of 5% on the first $20,000 of sales in a month, 7.5% on the next $20,000, and 10% on all additional sales. a. What is he paid for a month in which his...
The following story is true except that all names have been changed and the time period has been compressed. Charles Austin graduated from a prestigious business school and took a job in a public...
Derek and Meagan Jacoby recently graduated from State University and Derek accepted a job in business consulting while Meagan accepted a job in computer programming. Meagan inherited $75,000 from her...
Claud Chapperon is a self-employed distributor of wholesale clothing who began trading on 1 July 2012. His summarised accounts for the year to 30 June 2020 are shown below. The figures in brackets...
John and his wife Clara had $36,000 of adjusted gross income in 2007. They filed a joint return and took the standard deduction. Is it likely they had to pay any taxes? If so, how much?
Scientists often use the logistic growth function to model population growth, where P 0 is the initial population at time t = 0, K is the carrying capacity, and r 0 is the base growth rate. The...
Consider a correctly specified regression model with $p$ terms, including the intercept. Make the usual assumptions about $\varepsilon$. Prove that \[\sum_{i=1}^{n}...
The following selected financial data pertain to four unidentified companies: This financial information pertains to the following companies: a. Full-line department store b. Wholesale fish company...
Required information [The following information applies to the questions displayed below.] George and Wanda received $30,500 of Social Security benefits this year ($11,700 for George; $18,800 for...
Compute the standard deviation of the payoffs for each decision. What does this tell you about the risk in making the decision? Slaggert Systems is considering becoming certified to the ISO 9000...
Ivory hand-soap is advertised as being 99 44/100 % pure. (It floats!) How many milligrams of impurities are in a 150-gram bar of Ivory soap?
An online discount broker charges a transaction fee of $30 plus an additional 3 cents per share. A full-service broker charges a commission rate of 2.4% of the total dollar value of a stock...
A machine acquired for 360,000 on 1 April 2006 and depreciated at 10% of cost per annum was sold for 112,000 on 30 September 2011. Depreciation is time apportioned. Expenses of disposal amounted to...
The future that is outlined in the novel Unisave by Axel Madsen is dark, d e pressing, and discouraging. The novel is set in the 22nd century at a time when the planets natural resources, its energy...
In conducting an interview, the fraud examiner should avoid which of the following? a. Using long questions that require yes or no answers b. Leading questions c. Allow the witness to confuse the...
Miguel Ruiz, who had a wife and two small children, did not have a will. A friend told Miguel that he should have a will because if he died without one, everything he owned would go to the state. Was...
Bech owned a building in which Cuevas resided as a tenant at will. Alleging that Cuevas had committed waste, Bech delivered a letter to Cuevas ordering her to vacate the premises in two days. The law...
Schaeffer boarded a 30-passenger, single-aisle turboprop airplane carrying two pieces of baggage. When asked by a flight attendant to surrender one carry-on for proper storage, he refused and became...
The weight of an object is the force F on the object due to gravity, where F = mg. State how g (the acceleration due to gravity) varies with respect to the mass mb of the spherical body on which the...
Huntingdon Capital Corp. is a competitor of Plazacorp and First Capital Realty. Huntingdon reported the following selected information (in millions):...
Evaluate each of the following expressions to six-figure accuracy. -27 2/3
Evaluate each of the following expressions for the given values of the variables. In problem, maintain five-figure accuracy. In problem, calculate the result accurate to the nearest cent. P(1 + rt);...
Evaluate each of the following expressions to six-figure accuracy. 8 4/3
The market price of a semi-annual pay bond is $957.95. It has 15.00 years to maturity and a coupon rate of 7.00%. Par value is $1,000. What is the yield to maturity? The market price of a semi-annual...
Compute the accumulated sum of the following payments: (a) $400 every six months for 4 years at 8% compounded semi-annually (b) $250 per month for 5 years at 7.5% compounded monthly.
Click "Run program". The output is wrong. Sometimes a program lacking input will produce wrong output (as in this case), or no output. Remember to always pre-enter needed input. Type 2 in the input...

Serges graduated commission scale pays him 3% on his first $30,000 in sales, 4% on the next

Question:

Step by Step Answer:

The amount of sales subject to each commi...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions