The minimum yearly cost of a one-cent-per-hour wage increase at a facility of 1,000 employees is:

Question

Quizplus · Accepted Answer

The wage increase is one cent per hour, or 0.01 dollars per hour. If we multiply this by the number of hours worked in a year (assuming 40 hours per week and 52 weeks per year), we get:

0.01 dollar/hour x 2,080 hours/year = 20.80 dollars/year

Therefore, the total yearly cost of the wage increase for all 1,000 employees is:

20.80 dollars/employee/year x 1,000 employees = 20,800 dollars/year

So the answer is choice C, $20,800.

The Minimum Yearly Cost of a One-Cent-Per-Hour Wage Increase at a Facility