Question

The yearly cost of a one-cent-per-hour wage increase at a facility of 1000 employees is:

(a) $1000
(b) $208000
(c) $20800
(d) $10400
(e) $282880

Answer 1

The yearly cost of a one-cent-per-hour wage increase for 1000 employees, each working 40 hours a week for 52 weeks, would be $20,800.

Step-by-step explanation:

The question pertains to calculating the yearly cost of a one-cent-per-hour wage increase for 1000 employees. To solve this, we need to consider that each employee receives a 1 cent increase for every hour worked. Assuming each employee works a standard full-time schedule, this usually equates to 40 hours a week for 52 weeks a year. Therefore, the yearly increase in cost per employee can be calculated as:

1 cent × 40 hours/week × 52 weeks/year = 2080 cents/year or $20.80/year

Now, for 1000 employees, the calculation would be:

1000 employees × $20.80/employee/year = $20,800/year

Hence, the yearly cost for the 1000 employees would be $20,800.