A venue manager has a target labor cost of 20% of revenue. He expects revenue to be $725,000. What is his target for labor?
1 answer:
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Answer:
$754.05
Step-by-step explanation:
We have to find the volume of one tank and multiply it by the cost of renting the tank per cubic foot.
The volume of a cylinder is:
where r = radius
h = height
Each tank has a diameter of 8 feet (radius = 4 feet) and a height of 3 feet.
The volume of the tank is therefore:
The cost of renting is $5 per cubic foot.
Therefore, the cost of renting a tank is:
150.81 * 5 = $754.05
It costs $754.05 to rent a tank.