Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman

تمرين 100

In an effort to keep low-wage workers' salaries commensurate with the cost of living, a number of states have amended their constitutions to allow the minimum wage to be adjusted with inflation.
You are the accountant for Delicious, Inc., a company that owns a chain of 18 fast-food restaurants in Florida. Each restaurant employs 35 workers, each averaging 20 hours per week at the current federal minimum wage, $7.25 per hour.
a. How many hours at minimum wage are paid out each week by Delicious?
b. At the current rate of $7.25 per hour, what is the amount of the weekly "minimum wage" portion of the restaurant's payroll?
c. If the inflation rate this year is.7%, calculate the "adjusted" minimum wage rate to be paid next year.
d. How much in "additional wages" will Delicious have to pay out next year at the adjusted rate?
e. (Optional) Go to www.dol.gov/whd/minwage/america.htm and click on your state to find the current minimum wage. Calculate the weekly "minimum wage" portion of the restaurant's payroll assuming the restaurant is located in your state.
f. (Optional) Suggest some ways that the restaurant chain or other small businesses can offset the increase in payroll and subsequent decrease in profit as a result of the minimum wage hike.