Spencer Morris works in the telemarketing division for a company that pays a salary of $735 per month plus a commission of 3½% of all sales greater than $15,500. If he sold $45,900 last month, what was his total gross pay?
735 + .035(45,900-15,500) =$1799
735 + .035(45,900-15,500) = ?
17. Fandango Furniture Manufacturing, Inc. has 40 employees on the assembly line, each with gross earnings of $325 per week. What are the total combined social security and Medicare taxes that should be withheld from the employees’ paychecks each week? (Points : 2)
To find Spencer Morris's total gross pay, we need to calculate both his salary and his commission.
First, let's calculate the commission. We know that his commission rate is 3½% of all sales greater than $15,500. This means we need to subtract $15,500 from his total sales of $45,900 to get the amount eligible for commission: $45,900 - $15,500 = $30,400.
Next, let's calculate the commission amount. We can multiply the eligible sales by the commission rate of 3½% (or 0.035 in decimal form): $30,400 * 0.035 = $1,064.
Now, let's calculate his total gross pay by adding his salary to the commission amount: $735 + $1,064 = $1,799.
Therefore, Spencer Morris's total gross pay last month was $1,799.