Commission Section 1.6.

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Presentation transcript:

Commission Section 1.6

When working on commission an employee gets paid for selling a product or offering a service.

Commission rate this could be a specific amount or a percentage of the total value of sales. Straight commission is what one is given if commission is all that is received for work.

Can you think of people who work on commission? What do you think are some good and bad things about working on commission?

Figuring Commission 𝐶𝑜𝑚𝑚𝑖𝑠𝑠𝑖𝑜𝑛=𝑇𝑜𝑡𝑎𝑙 𝑆𝑎𝑙𝑒𝑠 𝑥 𝐶𝑜𝑚𝑚𝑖𝑠𝑠𝑖𝑜𝑛 𝑅𝑎𝑡𝑒

Suppose you are a car dealer working on 8 ½ % straight commission Suppose you are a car dealer working on 8 ½ % straight commission. Last week you sold three cars for a total sales amount of $53,000.

Now your boss tells you that you are guaranteed a minimum salary of $1,500 a week, or 7% of your total sales. What is your total pay if your total sales were $23,500?

Graduated Commission Section 1.7

Commission rate may increase as sales increase, this is called graduated commission. In this kind of commission the employee is given different levels as an incentive to sell more.

𝑇𝑜𝑡𝑎𝑙 𝐺𝑟𝑎𝑑𝑢𝑎𝑡𝑒𝑑 𝐶𝑜𝑚𝑚𝑖𝑠𝑠𝑖𝑜𝑛=𝑆𝑢𝑚 𝑜𝑓 𝐶𝑜𝑚𝑚𝑖𝑠𝑠𝑖𝑜𝑛𝑠 𝑎𝑡 𝑎𝑙𝑙 𝑙𝑒𝑣𝑒𝑙𝑠 *For graduated commission you will have to do several calculations and add them together to solve.

Commission Percent Level Of Sales 4% First $5,000 6% Next $10,000 8% Over $15,000 Given the table at the left, what is your total graduated commission if your sales totaled $32,450.

Skill #3: Commission & Graduated Commission Questions Summarize your notes Homework Google Classroom