Ok... I found this post from Bessie (WS Administrator) in the old "Chase Merritt" Thread. It might provide some answers.
https://www.websleuths.com/forums/threads/chase-merritt-2.231004/page-55#post-10249042
Yes, his percentage included cost of materials and supplies. However, JM fronted that portion throughout the year. At the end of the year, JM reconciled the account to show what was due back to EIP from CM.
I'd like to see a written agreement between the two if it exists. JM must have agreed to cover the materials up front, and recoup them later from CM.
CM received 65% off the top on most of the jobs listed, but that included the cost of materials. On some jobs, he received as little as 20%. Perhaps those were the drop shipped fountains. His net percentage is 52%, from which the costs of materials would be deducted.
Total Sales -- 297954
CM's cut -- 158210
less: costs -- - 42873
% costs -- approx 14%
CM's net -- 115337
CM % -- approx 39%
JM/EIP -- 139744
JM/EIP % -- approx 47%
https://www.websleuths.com/forums/threads/chase-merritt-2.231004/page-55#post-10249042
Yes, his percentage included cost of materials and supplies. However, JM fronted that portion throughout the year. At the end of the year, JM reconciled the account to show what was due back to EIP from CM.
I'd like to see a written agreement between the two if it exists. JM must have agreed to cover the materials up front, and recoup them later from CM.
CM received 65% off the top on most of the jobs listed, but that included the cost of materials. On some jobs, he received as little as 20%. Perhaps those were the drop shipped fountains. His net percentage is 52%, from which the costs of materials would be deducted.
Total Sales -- 297954
CM's cut -- 158210
less: costs -- - 42873
% costs -- approx 14%
CM's net -- 115337
CM % -- approx 39%
JM/EIP -- 139744
JM/EIP % -- approx 47%