Answered

Use the table of annual expenses to calculate the category expense contribution for insurance.

\begin{tabular}{|l|r|}
\hline Payroll & [tex][tex]$\$[/tex]129,874[tex]$[/tex] \\
\hline Advertising & [tex]$[/tex]\[tex]$6,761$[/tex][/tex] \\
\hline Raw Materials & [tex][tex]$\$[/tex]87,369[tex]$[/tex] \\
\hline Rent & [tex]$[/tex]\[tex]$21,222$[/tex][/tex] \\
\hline Insurance & [tex][tex]$\$[/tex]3,789[tex]$[/tex] \\
\hline Utilities & [tex]$[/tex]\[tex]$4,230$[/tex][/tex] \\
\hline Services & [tex][tex]$\$[/tex]7,000$[/tex] \\
\hline
\end{tabular}

[?] \%

Round to the nearest whole percent.



Answer :

GinnyAnswer
To find the percentage contribution of the insurance expense relative to the total annual expenses, follow these steps:

1. Calculate the total annual expenses: Add up all the individual expenses listed in the table.

[tex]\[ \text{Total Annual Expenses} = \$ 129,874 + \$ 6,761 + \$ 87,369 + \$ 21,222 + \$ 3,789 + \$ 4,230 + \$ 7,000 \][/tex]

Adding these together, we get:

[tex]\[ \$ 129,874 + \$ 6,761 + \$ 87,369 + \$ 21,222 + \$ 3,789 + \$ 4,230 + \$ 7,000 = \$ 260,245 \][/tex]

2. Determine the insurance expense as a percentage of the total annual expenses: Divide the insurance expense by the total annual expenses and multiply by 100 to convert it to a percentage.

[tex]\[ \text{Insurance Contribution} = \left( \frac{\$ 3,789}{\$ 260,245} \right) \times 100 \][/tex]

This computes to:

[tex]\[ \left( \frac{3,789}{260,245} \right) \times 100 \approx 1.4559357528482775\% \][/tex]

3. Round the percentage to the nearest whole number:

[tex]\[ 1.4559357528482775\% \approx 1\% \][/tex]

Therefore, the insurance expense contributes approximately 1% to the total annual expenses when rounded to the nearest whole percent.

Other Questions