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20 May, 07:50

A venue manager has a target labor cost of 18% of revenue. If the labor cost is $20,000, what must the revenue be in order for the target labor cost to have been achieved? (Round to the nearest dollar.)

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Answers (2)
  1. 20 May, 07:57
    0
    Revenue = $ 111,111

    Explanation:

    A venue manager has a target labor cost of 18% of revenue. The labor cost is $20,000. The revenue for the target labor cost of $20, 000 can be calculated as follows:

    Mathematically,

    let the revenue = $ a

    18% of a = 20000

    18/100 * a = 20000

    18a/100 = 20000

    cross multiply

    18a = 2000000

    divide both sides by 18

    a = 2000000/18

    a = 111111.11111

    a ≈ $ 111111

    Revenue = $ 111,111
  2. 20 May, 08:13
    0
    111,111.00

    Explanation:

    The target is that labor should be 18% of revenue.

    if the labor cost is $20,000, then $20,000 should be 18% of revenue.

    Therefore, 18% = $20,000

    if 20,000 = 18%

    100% will be 20,000/18 X100

    =1,111.11 X 100

    =111,111.11

    =111,111.00
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