Events & Promotions
|
|
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Apr 2711:00 AM EDT
-12:00 PM EDT
Prefer video-based learning? The Target Test Prep OnDemand course is a one-of-a-kind video masterclass featuring 400 hours of lecture-style teaching by Scott Woodbury-Stewart, founder of Target Test Prep and one of the most accomplished GMAT instructors
Apr 2808:00 AM PDT
-11:00 AM PDT
Whether you are just beginning your MBA journey or fine-tuning your path to a 700+ score, GMAT Day is designed to give you a competitive edge.
25 Oct 2023, 08:27
Kudos
Bookmarks
Daily value of Westside Widgets job: $260
Daily value of Eastside Enterprises job: $300
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
55%
(hard)
Question Stats:
74% (03:14) correct
26%
(03:31)
wrong
based on 1199
sessions
History
Date
Time
Result
Not Attempted Yet
Pat is considering two offers from competing firms. Westside Widgets offers an annual salary of $50,000 with 2 weeks of paid vacation and benefits valued at $15,000 annually. Eastside Enterprises offers Pat a one-year contract with no benefits but a salary of $37.50 per hour. Pat considers both offers acceptable but will take the job that provides the greatest total compensation per workday. Find the value of each job per day, based upon a 40-hour workweek and 52 five-day weeks per year.
| Daily value of Westside Widgets job | Daily value of Eastside Enterprises job | |
| $200 | ||
| $220 | ||
| $240 | ||
| $260 | ||
| $280 | ||
| $300 |
ShowHide Answer
Official Answer
Daily value of Westside Widgets job: $260
Daily value of Eastside Enterprises job: $300
27 Oct 2023, 20:45
Kudos
Bookmarks
Sajjad1994
Westside Widgets offers an annual salary of $50,000 with 2 weeks of paid vacation and benefits valued at $15,000 can easily mean that the two weeks paid vacation is part of $15000.
40 hours week for a five day week would mean EIGHT hours per day.
Westside Widgets
As two weeks payment is for vacation, actual time one works is 50 week and gets paid $50000+$15000 or $65000
Now, per hour payment = \(\frac{65000}{50*40}\) or $32.5
So compensation per weekday = 32.5*8 = $260
Eastside Enterprises
The value can be found straightway => 37.5*8 = $300
23 Jul 2024, 07:23
Kudos
Bookmarks
At Westside Widgets, Annual salary = $50,000 with 2 weeks of "paid vacation" and benefits valued at $15,000 annually. Doesn't it look ambiguous for the following reason?:-
Thought process: Annual Salary= 50,000 + 15,000= 65,000. Now, as 2 weeks of "paid vacation" we further calculate and add the monetary value of these 2 weeks, i.e., 10 workdays (or 80 hours), which could further be calculated by calculating per day salary (either 50,000/ total workdays or 65,000/total workdays).
Thought process: Annual Salary= 50,000 + 15,000= 65,000. Now, as 2 weeks of "paid vacation" we further calculate and add the monetary value of these 2 weeks, i.e., 10 workdays (or 80 hours), which could further be calculated by calculating per day salary (either 50,000/ total workdays or 65,000/total workdays).
