Sure, let's go through the detailed solution step by step.
1. Calculate the Total Payroll Cost:
- Cost of Hourly Staff: \[tex]$29,500
- Cost of Salaried Managers: \$[/tex]6,500
- Total Payroll: This is the sum of the costs for the hourly staff and the salaried managers.
[tex]\[
\text{Total Payroll} = \$29,500 + \$6,500 = \$36,000
\][/tex]
2. Calculate the Labor Cost Percentage for Hourly Staff:
- To find this percentage, we take the cost of hourly staff and divide it by the total revenue, then multiply by 100 to convert it to a percentage.
[tex]\[
\text{Percentage for Hourly Staff} = \left( \frac{\text{Cost of Hourly Staff}}{\text{Revenue}} \right) \times 100 = \left( \frac{\$29,500}{\$135,000} \right) \times 100 \approx 21.85\%
\][/tex]
3. Calculate the Labor Cost Percentage for Salaried Managers:
- Similarly, take the cost of salaried managers and divide it by the total revenue, then multiply by 100.
[tex]\[
\text{Percentage for Salaried Managers} = \left( \frac{\text{Cost of Salaried Managers}}{\text{Revenue}} \right) \times 100 = \left( \frac{\$6,500}{\$135,000} \right) \times 100 \approx 4.81\%
\][/tex]
4. Calculate the Total Payroll Cost Percentage:
- Total payroll cost percentage is found by dividing the total payroll by the total revenue, then multiplying by 100.
[tex]\[
\text{Total Payroll Percentage} = \left( \frac{\text{Total Payroll}}{\text{Revenue}} \right) \times 100 = \left( \frac{\$36,000}{\$135,000} \right) \times 100 \approx 26.67\%
\][/tex]
Now, summarizing the results:
[tex]\[
\begin{array}{|l|c|c|}
\hline
& \text{Payroll Last Month} & \text{Payroll Percent} \\
\hline
\text{Revenue} & \$135,000 & \\
\hline
\text{Cost of Hourly Staff} & \$29,500 & 21.85\% \\
\hline
\text{Cost of Salaried Managers} & \$6,500 & 4.81\% \\
\hline
\text{Total Payroll} & \$36,000 & 26.67\% \\
\hline
\end{array}
\][/tex]
Final Results:
- Total Payroll Cost: \$36,000
- Labor Cost Percentage for Hourly Staff: 21.85%
- Labor Cost Percentage for Salaried Managers: 4.81%
- Total Payroll Cost Percentage: 26.67%
