QuestionWhat is the maximum daily wage for a new employee if 8 employees earn an average of \$108 and total wages can't exceed \$980?

Studdy Solution

STEP 1

Assumptions1. The owner plans to spend no more than $980 a day for employees' wages. . The owner currently has8 employees who earn an average of$ 108 a day.
3. The owner wants to hire a new employee and needs to determine the maximum wage that can be paid to the new employee without exceeding the planned spending.

STEP 2

First, we need to find the total current wages of the8 employees. We can do this by multiplying the average wage by the number of employees.
$Current\, wages = Number\, of\, employees \\times Average\, wage$

STEP 3

Now, plug in the given values for the number of employees and the average wage to calculate the current wages.
$Current\, wages =8 \\times \$108$

STEP 4

Calculate the total current wages.
$Current\, wages =8 \\times \$108 = \$864$

STEP 5

Now that we have the total current wages, we can find the remaining amount that can be spent on the new employee's wage. We do this by subtracting the current wages from the planned spending.
$Remaining\, amount = Planned\, spending - Current\, wages$

STEP 6

Plug in the values for the planned spending and the current wages to calculate the remaining amount.
$Remaining\, amount = \$980 - \$864$

STEP 7

Calculate the remaining amount that can be spent on the new employee's wage.
$Remaining\, amount = \$980 - \$864 = \$116$ The most a new employee can be paid without spending more money than planned is $116.

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