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 for the family.
The total monthly expenses can be found by summing the costs for food and groceries, medical expenses, housing, transportation, monthly taxes, and other necessities:
Total monthly expenses = $821.33 + $751.33 + $1,324.17 + $1,251.00 + $882.58 + $745.67 = $5,776.08
To calculate the hourly wage required to meet this expense, we need to divide the total monthly expenses by the number of hours worked in a month.
Assuming a full-time job, we can estimate the number of working hours in a month to be approximately 160 hours (40 hours per week * 4 weeks).
Hourly wage = Total monthly expenses / Number of working hours in a month
Hourly wage = $5,776.08 / 160
Calculating:
Hourly wage ≈ $36.10
Therefore, the hourly wage required, working full-time, to meet the family's basic needs is approximately $36.10.