Step 1Each position will get a merit increase in January.Calculate their new base salary. Note:
View the step-by-step solution to:

Question

Step 1—Each position will get a merit increase in January. Calculate their new base salary. 

Note: You may practice manually if you'd like to see if you get the same answer when you complete it in the spreadsheet. Formulas MUST be used in MS Excel for any cells requiring calculations.

Position

Salary per year

% Raise

New Salary

ER Coder

$40,000

2%

 

Analyst

$28,500

2.5%

 

File clerk

$22,375

4%

 

 

Step 2—They will need to reduce the number of hours for the department to 36 hours per position for the remaining 15 weeks of the year. What is the new salary for each position?

Position

Salary in September

Salary at 36 hrs/week

New Salary

ER Coder

 

 

 

Analyst

 

 

 

File Clerk

 

 

 

 

Step 3—How much did the company save by cutting back each position by 4hrs/week for the remainder of the year?

Position

Salary at 40hrs/week

Salary at 36hrs/week

New Yearly Salary

Company Savings

ER Coder

 

 

 

 

Analyst

 

 

 

 

File Clerk

 

 

 

 

                                                                                                                                                               TOTAL:

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes