Commission & Bonus Pay

Flashcard
•
Mathematics
•
9th - 12th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What is a commission?
Back
A commission is a fee paid to an employee or agent for services rendered, typically calculated as a percentage of the sales they generate.
2.
FLASHCARD QUESTION
Front
How do you calculate a sales commission?
Back
Sales commission is calculated by multiplying the total sales amount by the commission rate (in decimal form). Formula: Commission = Sales Amount × Commission Rate.
3.
FLASHCARD QUESTION
Front
If a salesperson sells $450.00 worth of products at a 5% commission rate, what is their commission?
Back
$22.50
4.
FLASHCARD QUESTION
Front
What is a bonus in the context of sales?
Back
A bonus is an additional payment given to employees as a reward for achieving specific performance targets or milestones.
5.
FLASHCARD QUESTION
Front
How is a bonus different from a commission?
Back
A commission is based on sales performance, while a bonus is often a one-time payment for achieving specific goals or performance metrics.
6.
FLASHCARD QUESTION
Front
If a salesperson earns a commission of $30.00 on a $1,000.00 sale at a 3% rate, how is this calculated?
Back
Commission = $1,000.00 × 0.03 = $30.00
7.
FLASHCARD QUESTION
Front
What is the commission earned on a sale of $911.00 at a 4% commission rate?
Back
$36.44
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