Calculate the total cost for attending a conference if registration is $400, and the employee needs hotel, rental car, per diem, parking, and coverage for 4 days.
| Expense | Cost per day |
| ----------- | ------------ |
| Hotel | $200 |
| Rental Car | $80 |
| Per Diem | $50 |
| Parking | $30 |
| Coverage | $200 |
Answer (2)
Calculate the total hotel cost: 200 × 4 = $800 .
Calculate the total rental car cost: 80 × 4 = $320 .
Calculate the total per diem cost: 50 × 4 = $200 .
Calculate the total parking cost: 30 × 4 = $120 .
Calculate the total coverage cost: 200 × 4 = $800 .
Calculate the total expenses: 800 + 320 + 200 + 120 + 800 = $2240 .
Calculate the final total cost: 400 + 2240 = $2640 .
Explanation
Understanding the Problem We need to calculate the total cost for attending a conference. The registration fee is $400. The daily expenses include hotel ($200), rental car ($80), per diem ($50), parking ($30), and coverage ($200). The conference lasts for 4 days.
Calculating Total Hotel Cost First, let's calculate the total cost for the hotel for 4 days: Ho t e l t o t a l = Ho t e l p er _ d a y × N u mb e r d a ys = $200 × 4 = $800
Calculating Total Rental Car Cost Next, let's calculate the total cost for the rental car for 4 days: C a r t o t a l = C a r p er _ d a y × N u mb e r d a ys = $80 × 4 = $320
Calculating Total Per Diem Cost Now, let's calculate the total per diem cost for 4 days: P erD i e m t o t a l = P erD i e m p er _ d a y × N u mb e r d a ys = $50 × 4 = $200
Calculating Total Parking Cost Let's calculate the total parking cost for 4 days: P a r kin g t o t a l = P a r kin g p er _ d a y × N u mb e r d a ys = $30 × 4 = $120
Calculating Total Coverage Cost Now, let's calculate the total coverage cost for 4 days: C o v er a g e t o t a l = C o v er a g e p er _ d a y × N u mb e r d a ys = $200 × 4 = $800
Calculating Total Expenses Now, let's calculate the total cost of all expenses for 4 days: E x p e n se s t o t a l = Ho t e l t o t a l + C a r t o t a l + P erD i e m t o t a l + P a r kin g t o t a l + C o v er a g e t o t a l = $800 + $320 + $200 + $120 + $800 = $2240
Calculating Final Total Cost Finally, let's calculate the total cost by adding the registration cost to the total expenses: T o t a l cos t = R e g i s t r a t i o n + E x p e n se s t o t a l = $400 + $2240 = $2640 Therefore, the total cost for attending the conference is $2640.
Examples
Understanding the total cost of attending a conference helps in budgeting and financial planning. For example, if a company sends multiple employees to different conferences, accurately calculating these costs ensures that the company's budget is well-managed and that resources are allocated efficiently. This also aids in making informed decisions about which conferences to attend based on their overall value and cost-effectiveness. Knowing the breakdown of expenses like hotel, travel, and per diem allows for better negotiation and cost control.
The total cost for attending the conference is calculated by adding the registration fee of $400 to the total expenses of $2240, summing to $2640. The expenses covered include hotel, rental car, per diem, parking, and coverage over 4 days. Each daily cost is computed and totaled, leading to this overall expense for the conference.
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