Question
Angel company sells agricultural products. angel company pays its salespeople a salary plus a commission. the salary is the same for each salesperson, P10,000 per
Angel company sells agricultural products. angel company pays its salespeople a salary plus a commission. the salary is the same for each salesperson, P10,000 per month.
The commission varies by length of employment and is a percentage of the entity's total gross sales.
Each salesperson starts with a commission of 1.0%, which is increased by an additional 0.5% for each full year of employment to a maximum of 5.0%.
The total gross sales for the month of January amounted to P2,400,000. the entity has six salespeople as follows:
Number of years employed | |
Frances | 10 |
Salome | 9 |
Gina | 8 |
Jerry | 6 |
Michael | 3 |
Liezel | 0.75 |
Required:
Compute the total salaries and commission expense.
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