Syed Worked 35 Hours During the Past Week,and His Net

question 38

Multiple Choice

Syed worked 35 hours during the past week,and his net sales for the week were $5,480.His gross sales were $6,000.During the same week,the department's total gross sales were $60,000 and net sales were $55,000.A total of 6 employees worked 180 hours.Syed's sales per employee hour for the week would be:

• A) $305.55
• B) $171.43
• C) $156.57
• D) $333.33
• E) There is insufficient information to complete this calculation.

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Definitions:

Stock Dividend

A form of dividend payment made by a company to its shareholders in the form of additional shares, rather than cash.

Par Value

The nominal or face value of a stock or bond as stated by the issuing company, often used in legal documents.

Market Price

The current price at which an asset or service can be bought or sold in a public market.

Cash Dividend

A payment made by a company out of its profits to its shareholders in cash, typically on a regular basis.