Question

Renovation headquarters hired 20 new employees last year. Their total recruiting costs were $100,000. What was their cost per hire?

a. $2,500 per hire
b. $5,000 per hire
c. $7,500 per hire
d. $10,000 per hire

Answer 1

The cost per hire is calculated by dividing the total recruiting costs by the number of hires. For Renovation headquarters, with $100,000 in costs for 20 employees, the cost per hire is $5,000.Therefore, the correct answer is (b) $5,000 per hire.

Step-by-step explanation:

The cost per hire for Renovation headquarters is calculated by dividing the total recruiting costs by the number of new employees. If the company hired 20 new employees and incurred $100,000 in recruiting costs, we use the following formula:

Cost Per Hire = Total Recruiting Costs ÷ Number of Hires

Substituting the given values:

Cost Per Hire = $100,000 ÷ 20

Cost Per Hire = $5,000

Therefore, the correct answer is (b) $5,000 per hire.