You organize an 8-hour training for 4 hourly, local employees. The training is led by the manager who earns a salary of $72,000, and by an assistant manager who earns $60,000.
Materials cost is $35/person and food is $22/ person. If the hourly employees make $10/ hour, what is the cost of this training event?
The total cost of the training event can be calculated as follows:
1. Manager's salary for 8 hours = $72,000 / 2080 hours per year * 8 hours = $288
2. Assistant manager's salary for 8 hours = $60,000 / 2080 hours per year * 8 hours = $240
3. Cost of materials for 4 employees = $35/person * 4 employees = $140
4. Cost of food for 4 employees = $22/person * 4 employees = $88
5. Cost of hourly employees for 8 hours = $10/hour * 4 employees * 8 hours = $320
Therefore, the total cost of the training event is:
$288 + $240 + $140 + $88 + $320 = $1,076.