A salesperson gets paid a salary of $2,150 per month, with a graduated commission plan that pays 2.5% on sales up to $40,000 . 3% on sales between $40,00 . and $80,000 . and 3.5% on sales over $80,00 . . Compute the total pay for the salesperson during a month when sales were $106,500
$106,500 - $80,00 . = $26,500 . $40,00 . × 0.025 = $1,000 . $40,00 . × 0.03 = $1,200;
$26,500 × 0.035 = $927.50; $2,150 + $1,00 . + $1,200 + $927.50 = $5,277.50
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An internal control activity that separates responsibilities so that no one person handles all the tasks for a particular activity is referred to as ____________________
Fill in the blank(s) with correct word
General Supply owns all the stock of Playne Pencils. A Playne employee commits a tort for which the employer is liable. The suit results in a judgment for $1 million against Playne. Playne's assets total $650,000, but General Supply's assets are in the millions. In which of the following situations would the judgment have to be paid by General?
a. General Supply's board of directors is exactly the same as Playne's. b. The president of General Supply is also the vice president of Playne. c. Playne's income and General Supply's income is held in one account. d. None of these.
Investors who who accept the random walk theory should use
A) a dollar cost averaging plan. B) a constant dollar plan. C) a constant ratio plan. D) a variable ratio plan.
A random sample of 121 bottles of cologne showed an average content of 4 ounces. It is known that the standard deviation of the contents (i.e., of the population) is 0.22 ounces. The point estimate of the mean content of the bottles is
a. 0.22 b. 4 c. 121 d. 0.02