Calculate the value of goods

Assignment Help Macroeconomics
Reference no: EM131079580

Kelvin and Emma are shop assistants. Kelvin receives a weekly wage of £310 plus commission of £0.10 in the pound on goods sold.

During one week, Kelvin sold goods worth £1,850.

(a) Calculate Kelvin's gross earnings for that week.

The following are deductions from Kelvin's gross earnings.

Pension contribution: 7.8% of gross earnings

Income tax: £60

(b) Calculate Kelvin's net earnings for the week.

Emma's weekly wage is £345 and her commission on goods sold is £0.08 in the pound.

During another week, Kelvin sold the same value of goods as Emma, and Kelvin and Emma received the same gross earnings.

(c) Calculate the value of goods each shop assistant sold during that week.

Reference no: EM131079580

Questions Cloud

A manufacturer and distributor of electric fans : Franklin Fan Company is a manufacturer and distributor of electric fans founded by two disenchanted engineers, Dan Block and Ed Spriggs, one an electrical engineer, and the other a mechanical engineer.
Determining the security market line : Please help, According to the CAPM (capital asset pricing model), the security market line is a straight line. The intercept of this line should be equal to?
What are the nash equilibria of the game : If Malcolm Fights, both politicians gets a payoff of 30. If Malcolm opts to Negotiate, the payoffs are 15 to Malcolm and 15 to Tony. What are the Nash equilibria of the game?
Use social media-buzz marketing to increase sales : Recommend at least one (1) way a business with which you are familiar could use social media / buzz marketing to increase sales and awareness (e.g., social media awareness) of your products. Give your opinion on what a business needs to know about RO..
Calculate the value of goods : Calculate the value of goods each shop assistant sold during that week.
Discuss importance and benefits of using critical thinking : Discuss the importance and benefits of using critical thinking. Relate the importance and benefits of critical thinking to the example provided. Discuss ways you might use critical thinking in your current job or chosen career path.
Find a half-range fourier series expansion of f(t) : Find a half-range Fourier series expansion of f(t) on this interval. Sketch a graph of the function represented by the series for -2π≤ t ≤2π.
What is the companys cost of equity : The Absolute Zero Co. just issued a dividend of $2.80 per share on its common stock. The company is expected to maintain a constant 5.8 percent growth rate in its dividends indefinitely. If the stock sells for $56 a share, what is the company’s cost ..
Why are voters increasingly registering as independents : American Government and Politics Today (hereafter AGPT): Brief Edition 2016-17. Steffen W. Schmidt. Why are voters increasingly registering as Independents rather than registering as a Democrat or Republican?

Reviews

Write a Review

Macroeconomics Questions & Answers

  Elucidate two reasons a single minimum salary

Elucidate two reasons a single minimum salary might distort the labor market for teenage workers more than it would the market for adult workers.

  Evaluate the validity absolute and comparative advantage

Consider Bob, he washes his car by hand rather than taking it to the local car wash. When asked why he washes it by hand, Bob explains "you should never pay for something you can do yourself.

  Elucidate how does fiscal policy impact your organization

Elucidate how does the fiscal policy impact your organization or a selected organization with which you are familiar. Provide two scenarios to show the impact.

  Support the macroeconomic forecast using the real and

support the macroeconomic forecast using the real and financial frameworks that irelands unemployment rate will remain

  Determine the interest rate gene paid it the payments

Gene Milton borrowed today a sum of $5,000 from his uncle Ben and at the end of year three paid a sum of $5,000 and paid another $1,000 at the end of year four to pay off the loan.

  Prices for cartelization level

Need Price for every cartelization level, market output, market profits, cartel output and profits, and need noncartel firm output and profit. This if for 5 companies.

  What is the first action you would take as the president

What is the first action you would take as the president -As the chairman of the Fed - What would be your subsequent steps and make sure you include both the positive and negative effects of your actions, and include the trade-offs or opportunity cos..

  Computation of per capita gdp-population and gdp

If the US population is growing at .88% per year, while GDP is growing at 2.5% per year, and if these growth rates remain constant for the next five years, what will be the population and GDP levels in five years?  Please show your work.

  What will be the rate of return earned by most firms in the

In long-run equilibrium, most firms (the ones that remain from the original 298) will earn the normal % rate of return.

  What fiscal policies do you think caused the crisis

What fiscal policies do you think caused the crisis and what were the effects of the fiscal policies implemented in reaction to the crisis?

  Illustrate what other economic factors are affected

Illustrate what other economic factors are affected when taxes are raised or lowered, and how are they affected.

  Describe an initial public offering

Describe an initial public offering (IPO). What are the differences between a primary offering and a secondary offering?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd