Salary and Wages
It is a fixed amount of money paid regularly by an employer to an employee for performing a job.
Salary
What is the formula for the Straight Commission?
Commission = (Total Sales)(Commission Rate)
How do you solve for the MarkUp?
MarkUp = Selling Price - Cost Price
What does VAT stand for?
Value-Added Tax
What does SSS stand for?
Social Security System
If Eman earned an annual salary of ₱965,800, how much is her hourly rate?
₱464.33
A type of commission which is considered as an advance payment that an employer gives a salesperson before the salesperson earns enough commission.
Draw Against Commission
What is the formula to look for the discount rate?
Discount Rate = Discount ÷ List Price
Give the formula in solving for the VAT amount given the VAT-Inclusive price.
V = (0.12 ÷ 1.12) Vi
What does Pag-IBIG stand for?
Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya, at Gobyerno
Ella has a daily wage of ₱860. Her employer instructed her to render an additional 6 hours of overtime on an ordinary working day. How much is her compensation on that day alone?
₱1666.25
A salesperson earned a ₱3,200 commission at a 4% commission rate. What was the total amount of sales?
₱80,000
A Washing Machine was originally priced at ₱49,990, but is now sold for ₱43,455. Find the discount rate.
13.07%
Denise purchased a kitchenware set for ₱4,500 and sold it for ₱4,275. Find the (a) profit loss and (b) loss percentage
(a) ₱225 ; (b) 5%
This Act, also known as the Social Security Act of 2018, expanding the powers and duties of the Social Security Commission to ensure the long term viability of the Social Security System.
Republic Act 11199 or R.A. 11199
This is the extra compensation paid to an employee for working beyond the regular working hours.
Overtime Pay
A salesperson earns a 6%commission on all sales. If the salesperson wants to earn ₱15,000 in commission, how much must be sold?
₱250,000
A store bought a backpack worth ₱1,200. It was marked up by 35% and then offered a 20% discount on the marked up price. What is the final selling price?
₱1,296
A LED TV is sold for ₱25,000 before VAT. During a promotion, the customer receives a 10% discount before VAT. How much is the final amount the customer has to pay including the 12% VAT?
₱25,200
If an employee's annual salary is ₱965,800, how much will his monthly PhilHealth Contribution be?
₱2,500
CJ works as a sales associate with a monthly salary of ₱32,500. He rendered 13 hours of work on Chinese New Year, a special non-working holiday that also fell on his rest day. Determine CJ's total compensation for that day.
₱50,578.125 or ₱50,578.13
A car dealer earns a 3% commission on every car sold. The dealer sold three cars worth ₱850,000, ₱920,000, and ₱1,130,000. The dealer also receives a fixed monthly salary of ₱22,000. What is his total monthly earning?
₱109,000
A watch has a price of ₱5,600. A customer received a 10% discount followed by an additional 5% loyalty discount on the discounted price. How much does the customer pay?
₱4,788
A customer paid ₱37,632, VAT included, after receiving a 20% discount on the VAT-exclusive price of the product. What was the original price before the discount?
₱42,000
Marie earns an annual salary of ₱487,980. Compute for her Pag-IBIG's contribution based on her salary.
₱200