Question

The Miller's budget $90,240 annually. If both Mr. And Mrs. Miller each work 160 hours per month, what is the average hourly wage needed to meet the budget? Round to the nearest cent.

Answer 1

$23.50 per hour

Explanation:

Since they both work this amount per month and the budget is based on their combined salary then we can combine this amount of hours for two people. Therefore, Mr. and Mrs. Miller work 320 hours each month together. There are a total of 12 months in a year meaning that ...

320 * 12 = 3,840 hours

Mr. and Mrs. Miller work a total of 3,840 hours per year. Therefore in order to meet their budget, they need to make an hourly wage of ...

90,240 / 3,840 = $23.50