Question

an entry level machinist’s annual pay is $40,872 based on 52 weeks per year. Due to the economy, his company is having to cut back on the number of weeks that it employs it’s machinists. if the firm cuts the work year to 50 weeks but keeps the same rate of pay, how much should the machinist expect his annual pay to decrease? Round your answer to the nearest dollar.

Answer 1

We know that

• The annual pay is $40,872 based on 52 weeks per year.

First, we have to find the rate per week, let's divide.

`(40,872)/(52)=786`

This means that each machinist receives $786 per week.

If the firm cuts the work year to 50 weeks, then we just have to multiply it by the weekly payment to get the new amount per year.

`50\cdot786=39,300`

Them, subtract the 52 weeks year payment from the 50 weeks year payment.

`40,872-39,300=1,572`

Therefore, the annual payment will decrease by $1,572.