1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lora16 [44]
3 years ago
10

Inez is compensated based on a plan that pays a base salary, with commission in addition. Inez receives $40,000/year salary (and

is paid monthly); additionally, she receives 8% on all sales in excess of $50,000 in sales/month. In April, Inez sold $69,500 of product. Calculate her monthly earnings.
Business
1 answer:
belka [17]3 years ago
5 0

Answer:

$4,893.33

Explanation:

Inez's monthly earnings in April comprises of her monthly salary and the performance bonus which are both computed as shown below:

monthly salary=annual salary/12 months

annual salary

monthly salary=$40,000/12

monthly salary=$3,333.33

Note that the performance bonus is not based on the entire sales revenue generated by her but on the sales revenue above the threshold of $50,000

sales performance bonus=($69,500-$50,000)*8%

sales performance bonus=$1,560

monthly earnings=$3,333.33+$1,560

monthly earnings=$4,893.33

You might be interested in
You own a stock which has produced annual returns of 11 percent, 3 percent, 8 percent, and 14 percent over the past four years,
Nana76 [90]

Answer:

C) 9.00; 8.92

Explanation:

The arithmetic rate of return is given by:

R_{A} = \frac{11+3+8+14}{4} \\R_{A} = 9.00

The geometric rate of return is given by:

R_{G} =  (\sqrt[4]{(1.11*1.03*1.08*1.14)} -1) *100 \%\\R_{G} =  (1.0892-1) *100 \%\\R_{G} =  8.92

Therefore, the arithmetic rate of return is 9.00 percent and the geometric rate of return is 8.92 percent

The answer is C) 9.00; 8.92.

6 0
3 years ago
Firms are very small relative to the market. Firms have significant price control. Firms produce very similar products. There is
Anika [276]

Answer:

  1. Firms are very small relative to the market. PERFECT COMPETITION
  2. Firms have significant price control. NOT PERFECT COMPETITION - in perfect competition all firms are price takers.
  3. Firms produce very similar products. PERFECT COMPETITION
  4. There is a large number of firms. PERFECT COMPETITION
  5. There are significant barriers to entry and exit to the market. NOT PERFECT COMPETITION - in perfect competition there is free market entry and exit
  6. Firms have no price control. PERFECT COMPETITION
  7. Firms produce differentiated products. NOT PERFECT COMPETITION - in perfect competition firms produce homogeneous products.

7 0
3 years ago
The Federal Reserve Board can guard against recession by taking which of the following actions?
lana [24]
B. Raising or lowering interest rates and controlling the money supply. 
7 0
3 years ago
Read 2 more answers
What is compounding interest?
Svetlanka [38]

Answer:

d

Explanation:

the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.

4 0
2 years ago
On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $1.00 par, common shares, t
Verizon [17]

Answer:

1. Dr Stock dividends $60 million

Cr Common stock $60 million

2. $1

Explanation:

Preparation of the journal entry that summarizes the declaration and distribution of the stock split

Journal Entries for Siewert Inc

(In millions)

1. Based on the information given we were told that On June 13, the board of directors of the company declared a 2-for-1 stock split on its 60 million which means that the Journal entry will be recorded as :

Dr Stock dividends $60 million

Cr Common stock $60 million

(To record issue of stock dividend)

2. The Par value per share after split =$1 reason been that split are often in form of stock dividend.

8 0
3 years ago
Other questions:
  • Allison buys equipment and pays cash of $50,000, signs a note of $10,000 and assumes a liability on the property for $3,000. In
    14·1 answer
  • Carbohydrates, fats, and proteins, which provide energy
    9·2 answers
  • Tawana owns and operates a sole proprietorship and has a 37 percent marginal tax rate. She provides her son, Jonathon, $8,000 a
    6·1 answer
  • Orange Banking Group, a corporation that has a global presence, is seeking to hire employees for its IT team. Among the availabl
    9·1 answer
  • Glasgow Enterprises started the period with 65 units in beginning inventory that cost $3.40 each. During the period, the company
    10·1 answer
  • Joe is an accountant and plans to join a group of accountants. he compares a group in a general partnership with a group in a li
    5·1 answer
  • Giving away 100 for fun
    14·2 answers
  • A
    8·1 answer
  • The Tax Cuts and Jobs Act allows owners of a sole proprietor or partnership to deduct up to _____ percent of the income earned b
    13·1 answer
  • What is a worrisome consequence under the joint and several liability principle?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!