Nitin Is Paid on a Graduated Commission Scale

question 277

Multiple Choice

Nitin is paid on a graduated commission scale. He receives commission at the rate of 2% for the first $10,000 of sales in a month, 3% on the next $20,000, and 4.5% on all further sales. What is Nitin's average rate of commission in a month in which his sales are $60,000?

• A) 3.167%
• B) 3.417%
• C) 3.583%
• D) $5
• E) 3.83%

Recognize and understand standard mechanical abbreviations.

Identify the characteristic names and functions of components in gear systems.

Calculate the mechanical advantage of gear systems.

Understand the geometric requirements for the effective design of ratchet and pawl systems.

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Definitions:

Cost Control

Cost control involves the practice of identifying and reducing business expenses to increase profits, maintaining quality and efficiency in the process.

Overhead Costs

General business expenses not directly tied to producing a product or service, such as rent, utilities, and insurance.

Departmental Overhead Rate

A method for assigning overhead costs to products based on the specific department's expenses, facilitating more accurate product costing.

Production Volume

The total quantity of products or services produced within a specific period by a business.