Question

If the Revenue for the week is $2000, and labor cost consists of two workers earning $8 per hour who work 40 hours each, what is labor cost as a percentage of Revenue

Answer 1

80 hours of total work =$640 divide that by the total revenue. to check take 2000 and multiply by .32% and you get 640 again.

Answer 2

Let's find out the cost of labor shall we...

$8 x 40 x 2 = $640

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Now let's answer your question...

($640)/($2000) = 0.32

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This means that the cost of labor would be equal to 32% of the revenue as 0.32 = 32/100.