Answers26-27 DAEP Financial Math Q1 - Original CreditVariable Earnings

Variable Earnings Answers

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An employee makes an hourly rate plus any tips they earn. This tip employee made a total of $400 by working 28 hours last week. If $253 of their total earnings was their tips, what is their hourly rate of pay?

A
$5.25
B
$5.61
C
$8.82
D
$9.04
22
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The table below shows the earnings, in thousands of dollars, for three different commissioned employees. $2,000 + 3% on all sales7% on all sales5% on the first $40,000 + 8% on anything over $40,000December4.45.65.2January3.53.853.6February4.74.94.4Who had the largest dollar amount in sales for the month of January?

A
The salary plus commission employee.
B
The straight commission employee.
C
The graduated commission employee.
D
They each had the same dollar amount in sales.
23

Choose the method of pay that would result in the most earnings for one month on sales of $60,000.

A
Straight commission of 6% on all sales.
B
Monthly salary of $1,500 plus 3% commission on all sales.
C
Graduated commission of 4% on the first $50,000 in sales and 10% on anything over that.
D
Graduated commission of 5% on the first $40,000 in sales and 9% on anything over that.
24

A restaurant worker earns a set amount per hour from their employer. They also receive tips from customers. Their earnings most closely resemble those of which of the following?

A
An employee working on straight commission
B
An employee working on commission plus salary
C
An employee working on a piece-rate basis
D
An employee working on a fixed salary
25

Mr. Gonzalez earns his living as a salary plus commission employee. His annual salary is $18,000. He makes 4% commission on all of his sales. Mr. Gonzalez wants to earn $60,000 this year. If his earnings are divided evenly throughout the year, how much in monthly sales would Mr. Gonzalez need to have?

A
$37,500
B
$87,500
C
$100,000
D
$125,000
26

Mr. Gonzalez earns his living as a salary plus commission employee. His annual salary is $18,000. He makes 4% commission on all of his sales. Mr. Gonzalez wants to earn $60,000 this year. If his earnings are divided evenly throughout the year, how much in monthly sales would Mr. Gonzalez need to have?

A
$37,500
B
$87,500
C
$100,000
D
$125,000
27

Athena priced each of her art pieces at the same price and displayed them for sale in two different art shows. She made $495.80 from the first art show and $371.85 from the second show. If Athena sold 7 pieces of art, what price did each piece sell for?

A
$109.52
B
$109.66
C
$123.81
D
$123.95
28

Casey has a job doing valet parking. Casey makes an hourly rate of $4.55 per hour plus tips. Last week Casey worked 26 hours and made $898.55. How much in tips did Casey earn last week?

A
$34.56
B
$118.30
C
$157.25
D
$780.25
29

Erica sells magazine subscriptions and makes a flat rate of $5.35 for each subscription she sells. If Erica made $42.80 on Monday, $64.20 on Tuesday and $74.90 on Wednesday, how many subscriptions did she sell in the three days?

A
32
B
33
C
34
D
35

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