Terry McNutt, a single employee with two withholding allowances, is paid $10.50 per hour and...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Terry McNutt, a single employee with two withholding allowances, is paid $10.50 per hour and receives commission on net sales. He does not receive a commission until his net sales exceed $150,000. Once the minimum net sales is reached, he receives 1 percent commission on all of his sales at Skidoo Sports. During the week of January 23, he sold $86,000 of ski equipment; however, he had $2,000 of returns from the prior weeks sales. Company policy requires that commissions on sales returns are deducted from the employees pay, regardless of current commission earnings. Required: Compute Terrys gross pay for the 40 hour weekly pay period. (Negative amount(s) should be indicated by a minus sign.)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
