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Goode Manufacturing pays Frank Brooks a $1950 monthly salary plus a 6% commission on merchandise he sells each month. Assume Frank's sales were $98,500 for last month.Calculate the following amounts:1. Amount of Commission: $2. Gross Pay:

Question

Goode Manufacturing pays Frank Brooks a 1950monthlysalaryplusa61950 monthly salary plus a 6% commission on merchandise he sells each month. Assume Frank's sales were 98,500 for last month.Calculate the following amounts:1. Amount of Commission: $2. Gross Pay:

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Solution

  1. Amount of Commission: To calculate the commission, you need to multiply Frank's sales by his commission rate.

Frank's sales = $98,500 Commission rate = 6% = 0.06

So, the commission is calculated as follows: Commission = Sales * Commission rate Commission = 98,5000.06Commission=98,500 * 0.06 Commission = 5,910

  1. Gross Pay: The gross pay is the sum of the monthly salary and the commission.

Monthly salary = 1950Commission=1950 Commission = 5910

So, the gross pay is calculated as follows: Gross Pay = Monthly salary + Commission Gross Pay = 1950+1950 + 5910 Gross Pay = $7860

So, Frank's commission for last month was 5910andhisgrosspaywas5910 and his gross pay was 7860.

This problem has been solved

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