Which is an example of a variable expense?(1 point)
Responses
house rent
house rent
house mortgage
house mortgage
car payment
car payment
food
food
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, we need to calculate the total monthly cost of the basic needs and then divide it by the number of hours worked in a month.
Total Monthly Cost = $821.33 + $751.33 + $1,324.17 + $1,251.00 + $882.58 + $745.67 = $5,776.08
Assuming a full-time work schedule of 40 hours per week and 4 weeks in a month:
Total Monthly Hours = 40 hours/week * 4 weeks/month = 160 hours/month
Hourly Wage Required = Total Monthly Cost / Total Monthly Hours
Hourly Wage Required = $5,776.08 / 160 hours = $36.10
Therefore, the hourly wage required to meet the family's basic needs is $36.10.
For a family of 4, the estimated monthly cost of living in Fort Worth, Texas is $3,784. If there are 2 full-time working adults in the family, what is the average hourly living wage of each in order to support their basic needs? Round your answer to the nearest hundredth.(1 point)
To determine the average hourly living wage for each of the 2 full-time working adults, we need to divide the total monthly cost of living by the total number of working hours in a month.
Total Monthly Cost of Living = $3,784
Number of Working Adults = 2
Hours Worked per Week by Each Adult = 40
Weeks in a Month = 4
Total Monthly Hours Worked by Both Adults = (Hours Worked per Week by Each Adult) * (Weeks in a Month) = 40 * 4 = 160 hours
Average Hourly Living Wage per Adult = Total Monthly Cost of Living / Total Monthly Hours Worked by Both Adults
Average Hourly Living Wage per Adult = $3,784 / 160 hours = $23.65
Therefore, the average hourly living wage for each of the 2 full-time working adults is $23.65.
You have a sneaker collection worth $2,000, and you have $300 in your savings account. But you also have a credit card balance of $200. What are your total assets?(1 point)
Responses
$2,000
$2,000
$2,300
$2,300
$500
$500
$2,500
To calculate your total assets, you need to add the values of your sneaker collection and savings account, and then subtract your credit card balance.
Total assets = sneaker collection + savings account - credit card balance
Total assets = $2,000 + $300 - $200
Total assets = $2,300
Therefore, your total assets are $2,300.