A venue manager has a target labor cost of 18% of revenue. If the labor cost is $20,000, what must the revenue be in order for the target labor cost to have been achieved? (Round to the nearest dollar.)

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

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

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