5.3 Commissions Royalties and Piecework

Front

What is a commission?

Back

A commission is a fee paid to an employee based on the sales they generate, typically expressed as a percentage of the sales amount.

Tags

CCSS.7.RP.A.3

Front

What are royalties?

Back

Royalties are payments made to authors, musicians, or inventors for the use of their work, usually calculated as a percentage of sales.

Tags

CCSS.RI.11-12.8

CCSS.RI.8.7

CCSS.RI.9-10.7

CCSS.RL.11-12.8

CCSS.RL.9-10.7

Front

What is piecework pay?

Back

Piecework pay is a compensation method where workers are paid a fixed rate for each unit they produce or complete.

Front

How do you calculate total income from salary and commissions?

Back

Total income = Base salary + (Commission rate × Sales amount).

Tags

CCSS.7.EE.B.3

Front

If a book sells for $24 and the author receives 10% royalties, how much does the author earn per book sold?

Back

The author earns $2.40 per book sold (10% of $24).

Tags

CCSS.6.RP.A.3C

Front

What is the formula to calculate commission from profit?

Back

Commission = Profit × Commission rate.

Tags

CCSS.7.RP.A.3

Front

If a salesperson earns 5% on the first $1,000 in sales and 9% on the rest, how do you calculate their total earnings?

Back

Total earnings = (5% of $1,000) + (9% of sales over $1,000).

Tags

CCSS.6.RP.A.3C

Front

What is the total income for Mr. Jones if he earns $250 per week plus 2% commission on $2,800 in sales?

Back

Total income = $250 + (2% of $2,800) = $306.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate earnings from piecework?

Back

Earnings = (Rate per unit × Number of units) + (Higher rate for units over a threshold).

Tags

CCSS.7.EE.B.3

Front

If Jill picks 370 containers of corn, how do you calculate her earnings?

Back

Earnings = (55 cents × 300) + (60 cents × 70) = $207.

Tags

CCSS.3.OA.A.3