Question

Paloma Company has four employees earning $1,337,000. What is the average salary per employee?

a) $333,250
b) $334,000
c) $334,250
d) $335,500

Answer 1

To find the average salary at Paloma Company, one must divide the total salary ($1,337,000) by the number of employees (4), resulting in an average salary of $334,250 per employee.

Step-by-step explanation:

To calculate the average salary per employee at Paloma Company, we divide the total salary by the number of employees. Here, the total salary is $1,337,000 and there are four employees.

Using the formula for the average:

1. First, find the total amount of salaries: $1,337,000.
2. Next, divide the total salaries by the number of employees: $1,337,000 / 4.
3. Perform the division to find the average salary per employee.

Calculating the average salary:

$1,337,000 / 4 = $334,250

Therefore, the average salary per employee at Paloma Company is $334,250, which corresponds to option (c).