Name CHAPTER 5 EXERCISES Directions Complete the following problems. Write your

Question

Name CHAPTER 5 EXERCISES Directions Complete the following problems. Write your answers in the blanks provided A. Solve the following problems. Place commas and dollar signs in money amount answers. Round all answers to the nearest hundredth position. 1 Joseph Leeper worked a total of 59 hours in one week. Of these hours, he was paid for 8 at the regular overtime rate of 1.5 times his hourly wage and for 11 at the holiday rate of 2 times his hourly wage. Find his gross earnings for the week if his hourly pay is 12.65 Patricia Holmes has a salaried job. She earns $625 a week. In one week, she worked 60 hours. Find her gross earnings for the week. 2. 3. For sewing collars on shirts, employees are paid $2.50 a shirt. Rita Mitz completes an average of 25 shirts a day. Find her average gross weekly earnings for a 5-day week. 4. Asa Clark, a car salesman, is paid 6% commission for all sales. If he needs a monthly income of $3,000, find the monthly sales volume he must meet. 5. Randy Taylor is a salesperson and is paid a salary of $325 plus 4% of all sales. Find his gross income if his sales are $7,650. 6. Keesha Denton works 49 hours in one week and earns $8.45 an hour with time and a half for overtime. Find her gross weekly pay 7. William Griffith packages shrimp. He is paid $1 per package on all packages up to 100, $1.50 for packages from 101 to 150, and $1.75 for all packages over 150. Find his gross pay if he finished 275 packages in one pay period Stacy Breedlove, who sells medical supplies, works on 896 commission. If his sales for a week are $8,762.24, find his gross earnings. 8, Lisa Latham is a waitress earning $3.25 an hour plus a 15% gratuity automatically added to all food checks. If Lisa worked 32 hours one week and sold $1,765.45 in food, how much were her gross earnings for the week? 9, 10. Find the gross earnings for Inez Vasquez. She earns $325 plus 4% of all sales over $2,000. Her sales for the week are $6,983.34.

Explanation / Answer

According to forum rules, will answer first 4 questions. Please post rest of them separately. In case you don't understand any part of it, do let me know:

1.

a. Pay = $12.65/hour
b. 8 hours @ 1.5 times the hourly wage of $12.65/hour
c. 11 hours, 2 times the hourly wage of $12.65/hour
d. Rest( 59-8-11 = 40 hours) at normal wage of $12.65/hour

So, gross earnings for this week is 8*1.5*12.65+11*2*12.65+40*12.65 = $936.1

Answer is $936.1.

2.

Patricia earns $625 per week.

Her Gross earnings for the week will be equal to how much she earns , which is $625

Answer: Gross earning per week = $625

3.

Average fross weekly earnings when she works 5-day a week = 5*2.50*no. of shirts sewed per day

= $5*2.5*25

= $312.5

So, Employees earn $312.5

4. Montly sales volume should be X in order for her to have a monthly income of $3000 @ 6% commission on sales volume

So, 6% of X = 3000
6/100 * X = 3000
X = 3000*100/6 = $50,000

So, montly sales volume must be worth $50,000 so that Asa earns $3000 monthly

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