Question

3.5

Jean-Claude Killy, a snow ski sales representative, earns an annual base salary of $90,000 with a quota of $710,000. If sales exceed the quota, a 5.5% commission on the sales in excess of that quota will be paid. For the current year, sales are $850,000. Base Salary Commission Rate Entered to 3 decimal places Commission Pay Gross Annual Earnings = $ Lucien Laurin, Secretariat's trainer, earns $16.15 per hour and has earned a time-trial bonus this week of $55.50. In addition, 9 hours of overtime were worked. Earnings $ Overtime Rate Overtime Pay Gross Weekly Earnings

Answer 1

Question 3.5)jean-claude killy:

Given,

Base salary. = 90000

Commission rate. = 5.5% (excess of quota)

Sales. = 850000

Quota. = 710000

Calculation of commission:

Excess of quota. = sales. - quota

= 85000 - 710000

= 140000

Commission. = excess of quota. × commission %

= 140000. × 5.5%

= 7700

Calculation of gross annual earnings:

Base salary. = 90000

(+)commission. = 7700

Gross annual earnings. = 97700

Lucien laurin:

Given;

Earning. Per hour. = 16.15

Time-Trial bonus. = 55.50

Total hours per day. = 8 hrs (assume )

Total hours per week. =8 hrs × 7 days = 56 hrs

Overtime hours. = 9 hrs

Calculation of total earnings ( basic salary)(weekly):

Total earnings. = rate per hour × total hours in week

= 16.15 × 56 hrs

= 904.4

Calculation of overtime rate:

Overtime rate = rate per hour × total overtime hour

= 16.15 × 9 hrs

=145.35

Calculation of weekly earnings:

Earning. = 960. ( 904.4 + 55.5)(basic + bonus)

(+) overtime pay. = 145.35

Gross weekly earnings=1105.35 ( rounded 1105)

Summary:

Calculation of gross annual earnings & gross weekly earnings.