Use the table to answer the question. Items Cost food and groceries $821.33 medical $751.33 housing $1,324.17 transportation $1,251.00 monthly taxes $882.58 other necessities $745.67 The table shows the monthly basic needs budget for a 2-child family with 1 working adult in Fort Worth, Texas. Determine what hourly wage, working full-time, is required to meet the family’s basic needs. Round to the nearest hundredth.
To determine the hourly wage required to meet the family's basic needs, we need to calculate the total monthly expenses and then divide it by the number of hours worked in a month.
Total monthly expenses include food and groceries ($821.33), medical ($751.33), housing ($1,324.17), transportation ($1,251.00), monthly taxes ($882.58), and other necessities ($745.67). Adding these up:
821.33 + 751.33 + 1324.17 + 1251.00 + 882.58 + 745.67 = 5776.08
Now, we need to divide this total by the number of hours worked in a month. Assuming a full-time job is 40 hours per week and 4.33 weeks in a month, we have:
40 hours/week * 4.33 weeks/month = 173.2 hours/month
Dividing the total monthly expenses by the number of hours worked:
5776.08 / 173.2 = 33.37
Rounding to the nearest hundredth, the hourly wage required to meet the family's basic needs is $33.37.