Question

You have checked model income statements and estimate your payroll expense will be 28% of revenue. You expect sales to be $312,112 per year. What should you budget MONTHLY for payroll?​

Answer 1

Answer:

$7,282. 61

Explanation:

Payroll is 28% of revenue.

sales or revenue are expected to be $312,112 per year.

Payroll per year will be

=28% of $312, 112

= 28/100 x $312,112

=0.28 x 87,391.36

The monthly payroll budget should be

= $87,391.36 / 12

=$7,282.61