Eight employees attended a 4-day training to learn about a new product.
Release Time: $720 per day
Instructional Materials: $45 per person
Food: $105 per person
Travel: $325 per person
What was the total cost of instructional materials?
Release Time
$2,880 + Instructional Materials + Food Expenses + Travel Expenses = Total Training Cost
$ [?] + $ + $ = $
Answer (1)
Multiply the cost per person for instructional materials by the number of employees.
Calculate the total cost: 45 × 8 = 360 .
The total cost of instructional materials is 360 .
Explanation
Problem Analysis We are given that the cost of instructional materials is $45 per person and that there are 8 employees. To find the total cost of instructional materials, we need to multiply the cost per person by the number of employees.
Calculating Total Cost The total cost of instructional materials is calculated as follows: Total cost = Cost per person × Number of employees Total cost = $45 × 8 \text{Total cost} = $360
Final Answer Therefore, the total cost of instructional materials is $360.
Examples
Understanding the cost of resources is crucial in project management. For instance, if a construction company needs to estimate the cost of materials for a new building, they would multiply the cost per unit of material (e.g., bricks, cement) by the quantity needed. Similarly, a software company estimating the cost of software licenses for new employees would multiply the cost per license by the number of employees. This calculation helps in budgeting and resource allocation, ensuring projects stay within financial constraints.
