To determine the hourly wage required to meet the family's basic needs, we need to calculate the total monthly cost for all the items listed in the table.
Total monthly cost = food and groceries + medical + housing + transportation + monthly taxes + other necessities
Total monthly cost = $821.33 + $751.33 + $1,324.17 + $1,251.00 + $882.58 + $745.67
Total monthly cost = $5,775.08
To find the hourly wage, we divide the total monthly cost by the number of hours worked in a month (assuming full-time work).
Assuming a typical full-time work month of 160 hours:
Hourly wage = Total monthly cost / 160 hours
Hourly wage = $5,775.08 / 160 hours
Hourly wage = $36.10 (rounded to the nearest hundredth)
Therefore, the hourly wage required to meet the family's basic needs is approximately $36.10.
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 answer