question 2 of 10: if staff salaries were $32,000/month last year and $47,000/month this year, what is the…

question 2 of 10: if staff salaries were $32,000/month last year and $47,000/month this year, what is the total yearly labor cost increase?\na) $100,000\nb) $150,000\nc) $175,000\nd) $180,000

question 2 of 10: if staff salaries were $32,000/month last year and $47,000/month this year, what is the total yearly labor cost increase?\na) $100,000\nb) $150,000\nc) $175,000\nd) $180,000

Answer

Explanation:

Step1: Calculate monthly increase

Subtract last year's monthly salary from this year's monthly salary. (47000 - 32000=15000)

Step2: Calculate yearly increase

Multiply the monthly increase by 12 (since there are 12 months in a year). (15000\times12 = 180000)

Answer:

d) ($180,000)