Use the table to answer the question. Items Cost food and groceries $637.08 child care $701.25 medical $725.58 housing $1,324.17 transportation $1,059.03 monthly taxes $872.75 other basic necessities $512.50 The table shows the monthly basic needs budget for a 1-child family with 2 working adults in Fort Worth, Texas. What should be the average of living wages of both adults so they can support their family’s basic needs? Assume both parents work full-time (40 hours per week). Round to the nearest hundredth. (1 point)
To calculate the hourly wage, you need to divide the average living wage by the number of hours worked in a month.
Assuming they work full-time (40 hours per week), the average number of hours worked in a month is 40 hours/week * 4 weeks/month = 160 hours.
Hourly wage = Average living wage / Number of hours worked in a month
Hourly wage = $2,916.18 / 160 hours
Hourly wage ≈ $18.23 per hour
Therefore, both adults should earn at least $18.23 per hour to support their family's basic needs.
The average of living wages of both adults should be the total of all the basic needs divided by the number of adults, which is 2.
Total basic needs = food and groceries + child care + medical + housing + transportation + monthly taxes + other basic necessities
Total basic needs = $637.08 + $701.25 + $725.58 + $1,324.17 + $1,059.03 + $872.75 + $512.50
Total basic needs = $5,832.36
Average living wage = Total basic needs / number of adults
Average living wage = $5,832.36 / 2
Average living wage = $2,916.18
Therefore, the average of living wages of both adults should be $2,916.18 to support their family's basic needs.
how much an hour
To find the average living wages of both parents, we need to calculate the total monthly basic needs budget first and then divide it by the number of working adults.
Total monthly basic needs budget = cost of food and groceries + cost of child care + cost of medical + cost of housing + cost of transportation + monthly taxes + cost of other basic necessities
= $637.08 + $701.25 + $725.58 + $1,324.17 + $1,059.03 + $872.75 + $512.50
Now, sum up all these values:
= $5106.36
Since there are two working adults, we will divide this total budget by 2 to find the average living wages of both adults:
Average living wages = Total monthly basic needs budget / Number of working adults
= $5106.36 / 2
Calculating this:
= $2553.18
Therefore, the average living wages of both adults should be approximately $2553.18.