sam is a car salesman and is paid a monthly retainer of $2083
for every car he sells he gets a 6% commission on profit
the following table shows sams sales figures for the year.
month jul aug sep oct nov dec jan feb mar apr may jun
profit($)'000 2 8 12 15 14 5 1 3 5 5 4 1.2
1.calculate sams profit for the whole year.
2.determine sams commission for the whole year.
sam sold ten or more cars in september,october,november, and march and as such was given a bonus of $200 for each of those months
3.in total how much in bonuses did sam receive?
sams total income for the year is $30,308
4, show exactly how his income was calculated.
before the start of the year sam did not know exactly how much he would earn so he decided to pay $500 per month in tax.
5. how much tax did sam pay for the year?
6. use the following table to determine the amount of tax(in dollars) sam and another person , mrs x (who earns$39,645 per year)
taxable income tax on this income
$0-$6,000 nil
$6,001-$34,000 15c for each $1 over $6,000
$34,001-$80,000 $4,200 puls 30c for each $1 over $34,000
$80,001-$180,000 $18,000 plus 40c for each $1 over $80,000
$180,000- and over $58,000 plus 45c for each $1 over $180,000
sam is also required to pay a 1.5% goverment insurance levy.
7. calculate sams and mrs x's goverment insurence levy.
8. calculate sams and mrs x total tax obligations, including the goverment insurence levy.
9. based on these figures, who will get the largest refund? give reasons.
for every car he sells he gets a 6% commission on profit
the following table shows sams sales figures for the year.
month jul aug sep oct nov dec jan feb mar apr may jun
profit($)'000 2 8 12 15 14 5 1 3 5 5 4 1.2
1.calculate sams profit for the whole year.
2.determine sams commission for the whole year.
sam sold ten or more cars in september,october,november, and march and as such was given a bonus of $200 for each of those months
3.in total how much in bonuses did sam receive?
sams total income for the year is $30,308
4, show exactly how his income was calculated.
before the start of the year sam did not know exactly how much he would earn so he decided to pay $500 per month in tax.
5. how much tax did sam pay for the year?
6. use the following table to determine the amount of tax(in dollars) sam and another person , mrs x (who earns$39,645 per year)
taxable income tax on this income
$0-$6,000 nil
$6,001-$34,000 15c for each $1 over $6,000
$34,001-$80,000 $4,200 puls 30c for each $1 over $34,000
$80,001-$180,000 $18,000 plus 40c for each $1 over $80,000
$180,000- and over $58,000 plus 45c for each $1 over $180,000
sam is also required to pay a 1.5% goverment insurance levy.
7. calculate sams and mrs x's goverment insurence levy.
8. calculate sams and mrs x total tax obligations, including the goverment insurence levy.
9. based on these figures, who will get the largest refund? give reasons.