Holman Company pays each of its three salespeople a base salary of $1,000 per month plus a commission of 10 percent of their sales. The base salary is paid each month as incurred; the 10 percent commission is paid the month following the month of sale. The total sales for the past four months are as follows: June $15,000 July 22,000 August 39,000 September 40,000 Total salary and commission cash
payments for September total
a. $3,900.
b. $6,400.
c. $6,900.
d. $5,400.
C
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The difference between a department's gross profit and its direct operating expenses is known as the departmental direct operating margin
a. True b. False Indicate whether the statement is true or false
Read the information for Guinther & Sons, Inc The average current ratio for stores such as Guinther & Sons is 2.4 to 1 . What does this comparison tell you about its liquidity?
a. It is more liquid than its competitors. b. It has more long-term assets than its competitors. c. Since a rule of thumb for current ratios is 2 to 1, neither Guinther & Sons, Inc. nor its competitors is liquid. d. Guinther & Sons, Inc. is more profitable than its competitors.
________ is (are) collected in a standard format and made available to all subscribers
A) Basic data B) Complex data C) Written data D) Standardized information E) Syndicated data
The implied warranty of fitness for a particular purpose arises any time there is a merchant
seller. Indicate whether the statement is true or false