Answer:
111,111.00
Explanation:
The target is that labor should be 18% of revenue.
if the labor cost is $20,000, then $20,000 should be 18% of revenue.
Therefore, 18% = $20,000
if 20,000 =18%
100% will be 20,000/18 X100
=1,111.11 X 100
=111,111.11
=111,111.00
Answer:
Revenue = $ 111,111
Explanation:
A venue manager has a target labor cost of 18% of revenue . The labor cost is $20,000. The revenue for the target labor cost of $20, 000 can be calculated as follows:
Mathematically,
let the revenue = $ a
18% of a = 20000
18/100 × a = 20000
18a/100 = 20000
cross multiply
18a = 2000000
divide both sides by 18
a = 2000000/18
a = 111111.11111
a ≈ $ 111111
Revenue = $ 111,111
