IT division budget for the current year is $300,000. they already spent 10% of the budget on equipment, 66% on salaries, 8% on training and 31/2% on supplies. How much money does division have left in its budget for the remainder of the year?
.10+.66+.08+.035 = .875 or 7/8
so, they have 1/8 left.
1/8 * 300000 = ?
To calculate how much money the division has left in its budget for the remainder of the year, we need to subtract the amount already spent from the total budget.
First, let's calculate how much money was spent on each category:
1. Equipment: 10% of $300,000 = $30,000
2. Salaries: 66% of $300,000 = $198,000
3. Training: 8% of $300,000 = $24,000
4. Supplies: 3.5% of $300,000 = $10,500
Now, let's add up the total amount spent:
$30,000 (equipment) + $198,000 (salaries) + $24,000 (training) + $10,500 (supplies) = $262,500
Finally, to calculate the remaining budget, we subtract the total amount spent from the total budget:
$300,000 (total budget) - $262,500 (total amount spent) = $37,500
The division has $37,500 left in its budget for the remainder of the year.
To determine how much money the division has left in its budget for the remainder of the year, we need to calculate the amount spent on each category and subtract it from the total budget.
First, let's calculate the amount spent on each category:
- Equipment: 10% of $300,000 = $30,000
- Salaries: 66% of $300,000 = $198,000
- Training: 8% of $300,000 = $24,000
- Supplies: 3.5% of $300,000 = $10,500
Now let's calculate the total amount spent:
$30,000 + $198,000 + $24,000 + $10,500 = $262,500
To find the remaining budget, subtract the amount spent from the total budget:
$300,000 - $262,500 = $37,500
Therefore, the IT division has $37,500 left in its budget for the remainder of the year.