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What is the total monthly earnings of a retail sales associate who sells $20,000 worth of merchandise while receiving a fixed salary of $2,500 and a 3% commission?
What is the total monthly earnings of a retail sales associate who sells $20,000 worth of merchandise while receiving a fixed salary of $2,500 and a 3% commission?
- $3,100 (correct)
- $4,000
- $2,800
- $3,500
How is the commission calculated for a freelance graphic designer at ABC Company?
How is the commission calculated for a freelance graphic designer at ABC Company?
- A percentage of the project's value (correct)
- An hourly wage depending on hours worked
- A fixed salary per project
- A flat rate for each completed design
What is the commission earned by a tech company salesperson who sells $180,000, given that they have a quarterly sales target of $150,000 and receive a 10% commission on sales beyond the target?
What is the commission earned by a tech company salesperson who sells $180,000, given that they have a quarterly sales target of $150,000 and receive a 10% commission on sales beyond the target?
- $3,500
- $2,500
- $4,000
- $3,000 (correct)
When does a salesperson in a cash basis commission structure receive their commission?
When does a salesperson in a cash basis commission structure receive their commission?
What total commission does Samuel earn for selling 10 cellphones costing ₱18,000 each at a 6.1% commission rate?
What total commission does Samuel earn for selling 10 cellphones costing ₱18,000 each at a 6.1% commission rate?
If Linda sells 2 cars each week for 4 weeks at a price of $30,000 per car with a 4% commission, what is her total commission?
If Linda sells 2 cars each week for 4 weeks at a price of $30,000 per car with a 4% commission, what is her total commission?
What is a key characteristic of commission on an installment basis?
What is a key characteristic of commission on an installment basis?
What would be the commission for a salesperson who sells a product for $50,000 with a 5% commission rate?
What would be the commission for a salesperson who sells a product for $50,000 with a 5% commission rate?
What is the total commission Mike earns from selling 10 cellphones over the 6 months?
What is the total commission Mike earns from selling 10 cellphones over the 6 months?
What amount does Mike receive as commission for the second month?
What amount does Mike receive as commission for the second month?
In the last month, how much does Mike earn as a commission?
In the last month, how much does Mike earn as a commission?
What commission rate does Samantha earn on sales up to ₱100,000?
What commission rate does Samantha earn on sales up to ₱100,000?
How much commission does Samantha make on sales above ₱100,000 on a total sale of ₱150,000?
How much commission does Samantha make on sales above ₱100,000 on a total sale of ₱150,000?
What is James's total commission on selling a property priced at ₱6,000,000?
What is James's total commission on selling a property priced at ₱6,000,000?
During the first month, what total commission does Mike generate from selling 10 cellphones?
During the first month, what total commission does Mike generate from selling 10 cellphones?
What is the commission structure for Mike's earnings over the 6 months?
What is the commission structure for Mike's earnings over the 6 months?
What is the primary characteristic of a straight commission?
What is the primary characteristic of a straight commission?
If a salesperson earns 20% commission on sales and sells goods worth ₱50,000, what is the commission earned?
If a salesperson earns 20% commission on sales and sells goods worth ₱50,000, what is the commission earned?
What does the salary plus commission structure depend on?
What does the salary plus commission structure depend on?
How is the commission calculated for a sale of ₱95,000 with a 4% commission rate?
How is the commission calculated for a sale of ₱95,000 with a 4% commission rate?
If Joshua's sales for the week total ₱26,000 and he earns 10% commission on sales above ₱20,000, what is his commission?
If Joshua's sales for the week total ₱26,000 and he earns 10% commission on sales above ₱20,000, what is his commission?
Which of the following describes a quota commission?
Which of the following describes a quota commission?
What calculation is necessary to determine the gross pay when utilizing a salary plus commission structure?
What calculation is necessary to determine the gross pay when utilizing a salary plus commission structure?
In a salary plus commission system, if a salesperson does not exceed the sales threshold, what will affect their earnings?
In a salary plus commission system, if a salesperson does not exceed the sales threshold, what will affect their earnings?
What is the total commission earned by Charles if he sells a total of ₱60,000?
What is the total commission earned by Charles if he sells a total of ₱60,000?
How much commission does the real estate agency receive on a sale of ₱2,800,000?
How much commission does the real estate agency receive on a sale of ₱2,800,000?
What is the gross pay of the saleswoman who sold ₱26,575 in merchandise?
What is the gross pay of the saleswoman who sold ₱26,575 in merchandise?
Which commission structure involves an increasing percentage based on the amount sold?
Which commission structure involves an increasing percentage based on the amount sold?
If a sales representative sells ₱130,000 in one month, what would be their total commission?
If a sales representative sells ₱130,000 in one month, what would be their total commission?
What would be the commission for the saleswoman if she only sold ₱4,500 worth of merchandise?
What would be the commission for the saleswoman if she only sold ₱4,500 worth of merchandise?
Which statement about the graduated commission structure is true?
Which statement about the graduated commission structure is true?
What is the basis for calculating the commission in a quota-based system?
What is the basis for calculating the commission in a quota-based system?
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Study Notes
Commission
- A fee businesses pay salespersons (agents) in exchange for services
- Commission can be based on a flat arrangement or a percentage of the revenue generated by a salesperson.
Types of Commission
- Straight Commission: A salesperson's income is solely based on a percentage of their sales.
- Salary Plus Commission: A salesperson receives a fixed salary plus a percentage of sales.
- Graduated Commission: Commission rates increase as sales volume increases, with different percentage rates for different sales tiers.
- Quota Commission: Salespeople earn commission only on sales exceeding a predetermined quota.
Computing Commissions on Cash Basis
- Commissions are paid immediately after a customer makes a full payment for the product or service.
- Straight commission calculations are used here, where the percentage of the sale is the commission.
Commission on Installment Basis
- Commissions are paid in stages, aligned with customer payments.
- Commission rates may change based on installment number.
Example Applications
- Samantha's Commission:
- Commission up to ₱100,000: ₱100,000 x 4% = ₱4,000
- Commission above ₱100,000: (₱150,000 - ₱100,000) x 7% = ₱3,500
- Total Salary: ₱25,000 (base) + ₱4,000 + ₱3,500 = ₱32,500
- James's Commission:
- Commission on sales up to ₱5,000,000: 2.5%
- Additional commission on sales above ₱5,000,000: 1%
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