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Jim Smith is a salesman who receives a $1,100 draw per week against his commission. He receives a 12% commission as an incentive on all sales. Sales for Jim were $205,000 for the month.
Assuming a four-week month, Jim's commission is ____.

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thaovtp1407

Answer:

$29,000

Explanation:

Given that:

  • Draw per week: $1,100
  • Commission rate: 12%
  • Sales for Jim were $205,000 for the month.
  • 4 weeks in a month

Assuming a four-week month, Jim's commission :

Commission on revenue + commission of total draws

= $205,000*12% + 4*$1,100

= $24,600+ $4,400

= $29,000

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