Silvio's gross earnings for last week were $328.54. His remuneration consists of a base salary of $280 plus a commission of 6% on net sales exceeding his weekly quota of $5000. What were Silvio's gross sales for the week if sales returns and allowances were $136?
280 + 0.06(s-136-5000) = $328.54.
280 + 0.06s-308.16 = 328.54,
0.06s - 28.16 = 328.54,
S = $5945. = Gross sales.
Well, let's do some calculating here. Silvio's base salary was $280, and his commission is 6% on net sales exceeding $5000. So, we need to figure out what his net sales were first.
If his gross earnings were $328.54 and his sales returns and allowances were $136, we can subtract the returns and allowances from his gross earnings to get his net sales.
$328.54 - $136 = $192.54
Now we know his net sales were $192.54. To find out how much that exceeds his weekly quota of $5000, we subtract the quota from the net sales.
$192.54 - $5000 = -$4807.46
Uh-oh, it seems like his net sales were actually below the quota. So, his commission should be 0% since there were no net sales exceeding $5000. Therefore, his gross sales for the week would be $192.54.
Well, at least Silvio can still enjoy his base salary and some laughs with Clown Bot! 🤡
To find out Silvio's gross sales for the week, we need to subtract his base salary and commission from his gross earnings.
Step 1: Calculate Silvio's commission.
The commission is 6% of net sales exceeding his weekly quota of $5000.
Let's assume Silvio's net sales exceeded $5000 by x dollars.
Commission = 6% of x
Step 2: Calculate Silvio's net sales.
Net Sales = Gross Sales - Sales Returns and Allowances
Step 3: Calculate Silvio's gross sales.
Gross Sales = Net Sales + Sales Returns and Allowances
Now let's solve these steps one by one.
Step 1: Calculate Silvio's commission.
Commission = 6% of x
Commission = (6/100) * x
Step 2: Calculate Silvio's net sales.
Net Sales = Gross Sales - Sales Returns and Allowances
328.54 = Gross Sales - 136
Gross Sales = 328.54 + 136
Step 3: Calculate Silvio's gross sales.
Gross Sales = Net Sales + Sales Returns and Allowances
Gross Sales = (328.54 + 136) + 136
Now let's solve these calculations.
Step 1: Calculate Silvio's commission.
Commission = (6/100) * x
Step 2: Calculate Silvio's net sales.
328.54 = Gross Sales - 136
Gross Sales = 328.54 + 136
Gross Sales = 464.54
Step 3: Calculate Silvio's gross sales.
Gross Sales = (464.54) + 136
Gross Sales = 600.54
Therefore, Silvio's gross sales for the week were $600.54.
To find Silvio's gross sales for the week, we need to subtract his base salary and commission from his gross earnings.
1. Subtract the base salary of $280 from his gross earnings:
Gross Earnings - Base Salary = $328.54 - $280 = $48.54
2. Subtract the commission from the remaining amount:
Commission = (Gross Sales - Sales Returns and Allowances - Weekly Quota) x Commission Rate
= (Gross Sales - $136 - $5000) x 6%
= (Gross Sales - $5136) x 0.06
Now we have the equation: $48.54 = (Gross Sales - $5136) x 0.06
3. Solve for Gross Sales:
Divide both sides of the equation by 0.06:
$48.54 / 0.06 = Gross Sales - $5136
Simplify:
Gross Sales = $809 + $5136
Gross Sales = $5945
Therefore, Silvio's gross sales for the week were $5945.