The table shows a monthly basic budget for one child family with 2 working adults in Fort Worth Texas. What should be the average of living wages for both adults? So they can support their families. Basic needs assume both parents work full time forty hours per week round to the nearest hundred
To determine the average living wage for both adults, we need to consider the monthly basic budget. Since the table was not provided in the question, we cannot calculate based on the specific values. However, I can provide you with the general approach to find the average living wage.
1. Calculate the total expenses: Add up all the monthly basic needs expenses, such as housing, utilities, transportation, groceries, childcare/education, healthcare, and any other necessary expenses.
2. Consider income taxes: Subtract the estimated income taxes for both adults from their total income. Income taxes vary based on income levels and deductions, so you can calculate an estimate based on the average tax rate.
3. Calculate the net income: Subtract the total expenses (including taxes) from the total income for the month. This will give you the net income available for maintaining the family's basic needs.
4. Divide the net income by 2: Since there are two working adults, divide the net income by 2 to determine the average living wage for each adult. Rounding it to the nearest hundred will give you the desired result.
It's important to note that living wage calculations vary based on individual circumstances, such as family size, location, and specific needs. Therefore, it would be advisable to refer to specific data or resources that provide living wage calculations for Fort Worth, Texas, to obtain a more accurate result.