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Your Reward for Hard Work Your paycheck should reflect your gross income.

Your Reward for Hard Work Your paycheck should reflect your gross income. Why is it important to know how to calculate your gross income?. Lesson Objective Compute total graduated commission. Content Vocabulary. graduated commission. graduated commission

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Your Reward for Hard Work Your paycheck should reflect your gross income.

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  1. Your Reward for Hard Work Your paycheck should reflect your gross income. Why is it important to know how to calculate your gross income?

  2. Lesson Objective Compute total graduated commission. Content Vocabulary • graduated commission graduated commission Pay based on a different rate of commission for each of several levels of sales.

  3. Example 1 Irene Gomaz sells appliances at Twin City Sales. She receives a graduated commission as shown: 4% First $1,000 6% Next $2,000 8% Over $3,000

  4. Example 1 (cont.) Gomaz’s sales for the past month totaled $9,840. What is her commission for the month?

  5. Example 1 Answer Step: Find the sum of commission for all levels of sales. Sales × Commission Rate First $1,000 $1,000 × 4% = $ 40.00 Next $2,000 $2,000 × 6% = 120.00 Over $3,000 ($9,840–$3,000) × 8% $6,840 × 8% = 547.20 Total Graduated Commission $707.20

  6. Practice 1 Pamela Miller sells musical instruments. She earns 6½ percent commission on the first $2,000, 8 percent on the next $3,000, and 10 percent on sales over $5,000. Find the graduated commission on $7,368.

  7. Practice 1 Answer $606.80

  8. Practice 2 Bob Elliott sells lumber. He earns 9 percent commission on the first $25,000, 11 percent commission on the next $30,000, and 15 percent on sales over $55,000. Find the graduated commission on monthly sales of $56,575.

  9. Practice 2 Answer $5,786.25

  10. Mary Vincent sells computer supplies. She is paid a 7% commission on the first $15,000 worth of sales, 9% on the next $6,500, and 11.5% on all sales over $21,500. What is her commission on $24,300 worth of sales? • $1,957 • $1,985 • $2,309 • $2,475

  11. Bruce Gould is paid $7.50 per hour with time-and-a-half for all hours over 8 per day. He also earns commission of 5.4% on all sales. Last week Bruce worked 9 ½ hours each day Monday through Friday. His total sales for the week were $8,300. What is his gross pay? • $749.50 • $809.40 • $832.58 • $1,540.25

  12. HOMEWORK • Pg. 117 # 5-14

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