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.
(1 point)
To determine the hourly wage required to meet the family's basic needs, you need to calculate the total monthly cost of their basic needs and divide it by the number of working hours in a month.
The total monthly cost of the family's basic needs is the sum of the costs for each item:
Total monthly cost = $821.33 + $751.33 + $1,324.17 + $1,251.00 + $882.58 + $745.67 = $5,775.08
Assuming a full-time job typically consists of 40 hours per week and 4 weeks in a month:
Number of working hours in a month = 40 hours/week * 4 weeks/month = 160 hours
Hourly wage required = Total monthly cost / Number of working hours in a month = $5,775.08 / 160 hours = $36.10
Therefore, the hourly wage required to meet the family's basic needs is approximately $36.10.
How do you do the equation
To calculate the hourly wage required, you need to divide the total monthly cost of the family's basic needs by the number of working hours in a month.
Here is the step-by-step equation:
Step 1: Add up the costs for each item in the table:
Total monthly cost = $821.33 + $751.33 + $1,324.17 + $1,251.00 + $882.58 + $745.67 = $5,775.08
Step 2: Calculate the number of working hours in a month. Assuming a full-time job consists of 40 hours per week and 4 weeks in a month:
Number of working hours in a month = 40 hours/week * 4 weeks/month = 160 hours
Step 3: Divide the total monthly cost by the number of working hours in a month to find the hourly wage required:
Hourly wage required = Total monthly cost / Number of working hours in a month = $5,775.08 / 160 hours = $36.10
Therefore, the hourly wage required to meet the family's basic needs is approximately $36.10.