Phillippe Is an Inside Salesperson Who Earns a Base Annual

question 56

Multiple Choice

Phillippe is an inside salesperson who earns a base annual salary of $24,000 plus a 5% commission on total sales that he makes during the pay period.During a semimonthly period,he made $27,500 in sales.What is Phillippe's gross pay for the period? (Do not round intermediate calculations.Round your answer to 2 decimal places. )

• A)$2,298.07
• B)$2,390.38
• C)$2,375.00
• D)$2,422.50

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Definitions:

Estimate Of Eps

A projection or prediction of a company's earnings per share (EPS) for a specified fiscal period.

Last Four Quarters

A reference to the most recent four consecutive fiscal quarters of a company's financial performance, used in analyzing trends.

Required Return

Referred to as the expected yield that investors aim for when putting money into an investment, considering its risk profile.

Share Dividend

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