Instructions

Calculate the individual incentives below. Show your work.

Skill Builder assignments will ONLY be accepted by $11$:$59$ p$.$m$.($Central Time$)$ on the respective assignment's due date. No Skill Builder assignments will be accepted after the due date and time, as indicated by the date$/$time stamp, unless arrangements were made in advance. Skill Builder assignments will not be accepted via campus email $($e$.$g$.,$ Outlook$)$ and$/$or Canvas Messages unless directed to do so by the instructor.

Calculate the Incentive Programs

Bonus. You have a salary of $$46,000$ per year, and you get a $7\%$ bonus at year$-$end.

a$.$ How much is your bonus?

Commission. You are an independent real estate agent in a rural area in the South, and you get a $5\%$ commission on every house you sell. Your monthly expenses are around $$10,000.$ This month you sold two houses: one for $$168,000$ and the other for $$116,000.$

a$.$ How much revenue did you earn this month?

b$.$ What was your profit for the month?

c$.$ If this wa average month, what would be your profit for the year? $($Your monthly expenses do not change. Assume that this case is based on the month of January.$)$

Discover $3.$ Merit pay. You are the top performer in your department, so you are getting a $2\%$ merit raise over the $2\%$ that everyone else will get.

a$.$ How much is your merit pay if your current salary is $$35,000?$

$4.$ Straight piece$-$rate. You make car parts. You get paid $$1\mathrm{.}10$ for every part you make. This week you made $423$ parts.

a$.$ What is your pay for the week?

b$.$ The estimated average pay is $$450,$ so how much more or less than average did you make?

$5.$ Differential piece$-$rate. You sell cell phones and phone service contracts in a small rural town. You are paid a salary of $$7\mathrm{.}50$ per hour for a $40-$hour week $($$$300)$ or $$1,350$ for the $(180-$hour$)$ month. You also get paid $$8\mathrm{.}00$ for every phone you sell in excess of five for the month. This month you sold $15$ phones.

a$.$ What is your total pay for the month?

$6.$ Standard hour. You build transmissions. The standard time is $6$ hours to rebuild one transmission. You are paid $$25\mathrm{.}00$ per standard hour. During this $40-$hour work week, you rebuild $8$ transmissions.

a$.$ What is your pay for the week?