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16 Jun 2024, 20:01
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Total wages for next fiscal year: $280,500,000
Total benefits for next fiscal year: $140,250,000
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
87% (02:51) correct
13%
(03:39)
wrong
based on 227
sessions
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Not Attempted Yet
For the last fiscal year, University X had total operating expenses of $750,000,000, of which staff compensation accounted for 52%. For the next fiscal year, University X will increase its total operating expenses by 2%, and staff compensation will account for 55% of total operating expenses. For each fiscal year, wages account for two-thirds of total staff compensation and benefits account for one-third of total staff compensation.
In the table, select for Total wages for next fiscal year and Total benefits for next fiscal year the total operating expenses devoted to wages and benefits, respectively, for the next fiscal year that are jointly consistent with the information provided. Make only two selections, one in each column.
Source: DI OG
In the table, select for Total wages for next fiscal year and Total benefits for next fiscal year the total operating expenses devoted to wages and benefits, respectively, for the next fiscal year that are jointly consistent with the information provided. Make only two selections, one in each column.
Source: DI OG
| Total wages for next fiscal year | Total benefits for next fiscal year | |
| $130,000,000 | ||
| $132,600,000 | ||
| $140,250,000 | ||
| $260,000,000 | ||
| $265,200,000 | ||
| $280,500,000 |
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Official Answer
Total wages for next fiscal year: $280,500,000
Total benefits for next fiscal year: $140,250,000
16 Jun 2024, 20:31
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Next fiscal year total operating expenses = 750,000,000 x 1.02 = 765,000,000
Staff compensation = 55% of 765,000,000 = 420,750,000
wages = 2/3 of staff compensation = 420,750,000 x 2/3 = 280,5000,000
benefits = 1/3 of staff compensation = 420,750,000 x 1/3 = 140,250,000
Staff compensation = 55% of 765,000,000 = 420,750,000
wages = 2/3 of staff compensation = 420,750,000 x 2/3 = 280,5000,000
benefits = 1/3 of staff compensation = 420,750,000 x 1/3 = 140,250,000
08 Oct 2024, 10:17
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1. We are asked to find the total wages and total benefits next fiscal year. To do this, we have to write out all the changes and percentages of the total operating expenses.
2. Let's do this for the total wages. Next fiscal year, the total operating expenses will be 2% more than $750,000,000, which is \(750000000 * 1.02 =\) $765,000,000. Staff compensation is 55% or \(765000000 * 0.55 =\) $420,750,000. The total wage next fiscal year accounts for \(\frac{2}{3}\) of the staff compensation or \(420750000 * \frac{2}{3} =\) $280,500,000.
3. The total benefits for next fiscal year is calculate the same way, except it's \(\frac{1}{3}\) of the staff compensation or \(420750000 * \frac{1}{3} =\) $140,250,000.
2. Let's do this for the total wages. Next fiscal year, the total operating expenses will be 2% more than $750,000,000, which is \(750000000 * 1.02 =\) $765,000,000. Staff compensation is 55% or \(765000000 * 0.55 =\) $420,750,000. The total wage next fiscal year accounts for \(\frac{2}{3}\) of the staff compensation or \(420750000 * \frac{2}{3} =\) $280,500,000.
3. The total benefits for next fiscal year is calculate the same way, except it's \(\frac{1}{3}\) of the staff compensation or \(420750000 * \frac{1}{3} =\) $140,250,000.
