Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Luther is paid an annual salary of $56,600 based on a 37-hour workweek. a. What is his equivalent hourly wage? (Assume that a year has

image text in transcribed
image text in transcribed
Luther is paid an annual salary of $56,600 based on a 37-hour workweek. a. What is his equivalent hourly wage? (Assume that a year has exactly 52 weeks ) (Round your answer to 2 decimal places.) 29.03 b. What would be his total remuneration for a biweekly pay period of that year it he worked 4 5 hours of overtime at time and a half? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) A shoe salesperson is paid the greater of $600 per week or 11% of sales a. What are his earnings for a week in which sales are $5636? (Round your answer to 2 decimal places.) Earnings 619.96 b. At what volume of sales per week will he start to earn more from the commission based compensation? (Round your answer to 2 decimal places.) Sales

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Oxford Handbook Of IPOs

Authors: Douglas Cumming, Sofia Johan

1st Edition

0190614579, 978-0190614577

More Books

Students also viewed these Finance questions