BMath, Quiz 13.1

The Smith-Hart Company is searching for a person to head its accounting department. The personnel department placed advertisements for a total cost of $5,902. The company’s cost to interview candidates is $17,800. The hiring expenses totaled $800. What is the total recruiting cost?

• $10,258

• $18,569

• $12,008

• $24,502

Answer explanation

5902+17800+800

A university was looking for a new athletic director. Advertising expenses totaled $15,500. Interviewing expenses, including travel for three of the candidates, totaled $8,987. They selected Andrea Martino. Hiring expenses included $5,000 in moving expenses and a 6% realtor’s fee on the selling price of Andrea’s home. The home sold for $275,130. What is the total recruiting cost?

• $39,012.00

• $44,397.09

• $45,994.80

• $46,981.09

Use Figure 13.1. Cory Yip is a customer service agent, level 1, for Marcom & Associates. He received a 2.5% cost-of-living adjustment and a merit increase of 4%. What is Cory’s new salary?

• $18,991

• $19,009

• $21,300

• $32,555

Feng-Lin Fong had worked at the University Medical Center for 20 years when she became permanently disabled while at work. She could not continue to work. Fong was 55 years old and had planned to retire in 10 years at age 65. Her final average salary is $76,908. The hospital’s rate of benefits is 2%. What is her annual disability benefit?

• $20,258.33

• $29,457.00

• $36,459.33

• $46,144.80

A year ago, when Delmar Harris started his job as an accounting clerk at Wright Way Enterprises, his salary was $38,500. This week he received a cost-of-living adjustment of 2.4% and a merit increase of 15.0%. How much salary will Delmar earn next year?

Amy Flaxman is an assistant at the Montgomery Animal Clinic. Her annual salary is $37,500. Her benefits include $721 for one vacation week, $2,270 for health insurance, $2,325 for Social Security, $544 for Medicare, and $1,725 for unemployment insurance. What is the rate of benefits rounded to the nearest tenth of a percent?

What is the difference between a cost-of-living adjustment and a merit increase?

Discuss three benefits you would like to have as an employee and explain why.