Final answer:
The hourly wage from a weekly salary is calculated by dividing the total weekly salary by the number of hours worked per week. For example, a weekly salary of $400 divided by 40 hours results in an hourly wage of $10 per hour.
Step-by-step explanation:
To calculate an hourly wage from a weekly salary, you need to know the total weekly salary and the number of hours worked per week. Generally, full-time employment is considered to be around 40 hours per week, but this may vary depending on the job. Once you have this information, you can use the following formula:
Hourly Wage = Weekly Salary / Hours Worked per Week.
For example, if widget workers receive a weekly salary of $400, and they work 40 hours a week, you can calculate the hourly wage using the formula:
Hourly Wage = $400 / 40 hours = $10 per hour.
If we assume widget workers earn $10 per hour, and we eliminate any blanks or non-working hours from the calculation, we can determine the cost of producing different levels of output by multiplying the number of workers by their hourly rate.
For instance, if there were 5 workers on a given shift and they each work 8 hours, the labor cost for that shift would be:
Labor Cost = 5 workers x 8 hours/worker x $10/hour = $400 total.