To determine the hourly wage required to meet the family's basic needs, we need to add up all the costs and divide by the number of hours worked in a month.
First, we need to determine the monthly total cost:
Total cost = food and groceries + medical + housing + transportation + monthly taxes + other necessities
Total cost = $821.33 + $751.33 + $1,324.17 + $1,251.00 + $882.58 + $745.67
Total cost = $5776.08
Next, we need to determine the number of hours worked in a month. Assuming full-time work is 40 hours per week for 4 weeks in a month:
Hours worked = 40 hours/week x 4 weeks/month
Hours worked = 160 hours
Finally, we can determine the hourly wage required:
Hourly wage = Total cost / Hours worked
Hourly wage = $5776.08 / 160 hours
Hourly wage ≈ $36.10
Therefore, the hourly wage required to meet the family's basic needs, working full-time, 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 point)
1 answer