1.6 Notes.notebook August 22, 2014 1.6 Straight Commission Skills Review: Convert decimals and percents % Decimal Decimal 3% .27 102% .0625 4.3% 212 15 1/2% .001 24% .034 9.25% 1.05 7 1/4 % .08 % 1 1.6 Notes.notebook August 22, 2014 Commission: Commission works in two ways: Straight commission & Minimum Salary + or vs. commission. You might work on a commission rate. This is either a specified amount of money paid for each sale or a percent of total value of your sales. If the commission pay is the only pay you receive, you work on straight commission. Straight commission formula: 2 1.6 Notes.notebook August 22, 2014 1.) Breanna sells commercial real estate at a 7 1/2% straight commission. Last week her sales totaled $290,000. What was her commission? 2.) Seth sells furniture at an 8% straight commission. One weekend he sold $9,400 worth of furniture. Find the commission he earned. 3.) Scott sells cars at a 5.5% straight commission. One month he sold $143,400 worth of cars. Find his commission amount. 3 1.6 Notes.notebook August 22, 2014 4.) Mark works at the same car dealership as Scott. He sold $135,800 worth of cars and earned $8487.50. Find his commission rate. 5.) Sheila sells computers and works on straight commission. She sold 37 computers last month totaling $33,300 and earned $1581.75. Find her commission rate. 4 1.6 Notes.notebook August 22, 2014 Instead of working only on commission, you might be guaranteed a minimum weekly or monthly salary. In some cases, the commission you earn during a week or month is compared with your minimum salary and your gross pay is the higher of the two amounts. In other cases, you might be paid a base salary and earn commission in addition to this base salary. 6.) Brittany sells chairs at The Office Center. She is guaranteed a minimum salary of $1850 per month plus commission of 6.25% of her total sales. If her total sales are $52,500. What is her gross pay that month. 7.) Find Brittany's total sales for a month if her gross pay was $3890. 5 1.6 Notes.notebook August 22, 2014 8.) Jasmine sells clothes. She is guaranteed a minimum salary of $1500 per month plus 5.75% of her total sales. What were her total sales for a month in which her gross pay was $2075? 9.) Katy is a ticket broker. She is guaranteed a minimum weekly salary of $650 or 5% of her total sales, whichever is higher. If she sold $12,000 worth of tickets in a week, what is her gross pay for that week? 10.) What were Katy's total sales for a week in which her gross pay was $725? Assignment: pgs. 113114 # 616E, 20, 21, 31, 32, 19 is EC 6
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