Asked by Bianca Benincasa on Apr 27, 2024
Verified
Trevor earns a base monthly salary of $2,000 plus a commission of 3% on sales exceeding his monthly quota of $25,000. He receives a further 3% bonus on sales in excess of $50,000. What must his sales be in order to gross $4,000 per month?
Base Monthly Salary
The initial rate of compensation provided to an employee, excluding additional earnings such as bonuses, overtime, or commissions.
Commission
A fee paid for provided services, typically a percentage of the transaction value, common in sales and trading environments.
Monthly Quota
A set target or amount that needs to be achieved or sold within a monthly timeframe.
- Learn to determine commission amounts based on outcomes in sales performance and exceeding preset goals.
Verified Answer
AG
Learning Objectives
- Learn to determine commission amounts based on outcomes in sales performance and exceeding preset goals.