Answer:
$93.35
Step-by-step explanation:
To calculate the minimum monthly income needed to cover expenses, we can start by summing up the monthly costs:
[tex] \begin{aligned} \sf Monthly \, Expense & = Housing + Food + Child \, care + Transportation + \\\\ & = \sf Health \, care + Other \, Necessities + Taxes \\\\ & = \$1,251 + \$783 + \$1,517 + \$1,195 + \\\\ &= \$1,193 + \$737 + \$792 \\\\ & = \$7,468 \end{aligned} [/tex]
This is the total monthly cost for the family in the Phoenix/Mesa/Scottsdale metro area.
Now, let's calculate the minimum monthly income needed. Since there are two adults, the minimum monthly income ([tex]\sf Monthly \, Income[/tex]) would be:
[tex]\sf Monthly \, Income = Monthly \, Expense \times \text{Number of Adults} [/tex]
[tex]\sf Monthly \, Income = \$7,468 \times 2 [/tex]
[tex] \sf Monthly \, Income = \$14,936 [/tex]
Now, to calculate the hourly wage ([tex] \sf Hourly \, Wage[/tex]), we need to consider the assumption that each full-time worker works four 40-hour work weeks per month. Therefore, there are a total of 4 weeks in a month, and each week consists of 40 hours of work.
The monthly work hours for a full-time worker would be [tex]4 \times 40 = 160[/tex] hours.
[tex] \sf Hourly \, Wage = \dfrac{Monthly \, Income}{Monthly \, Work \, Hours} [/tex]
[tex] \sf Hourly \, Wage = \dfrac{\$14,936}{160} [/tex]
[tex] \sf Hourly \, Wage \approx \$93.35 [/tex]
So, the minimum monthly income per worker needed to cover expenses is 14,936, and the hourly wage, based on this monthly income and assumption about work hours, is approximately $93.35.
