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 | $230 |
| Rental Car | $110 |
| Per Diem | $55 |
| Parking | $40 |
| Coverage | $400 |
$[?]
Answer (2)
Calculate the total hotel cost: 4 × $230 = $920 .
Calculate the total rental car cost: 4 × $110 = $440 .
Calculate the total per diem cost: 4 × $55 = $220 .
Calculate the total parking cost: 4 × $40 = $160 .
Calculate the total cost: $400 ( re g i s t r a t i o n ) + $400 ( co v er a g e ) + $920 ( h o t e l ) + $440 ( c a r ) + $220 ( p er d i e m ) + $160 ( p a r kin g ) = $2540 .
Explanation
Understanding the Problem We are asked to calculate the total cost for attending a conference. The costs include a fixed registration fee, daily expenses for hotel, rental car, per diem, and parking, and a fixed coverage cost. We need to calculate the total daily expenses for 4 days and add them to the registration and coverage costs.
Calculating Daily Expenses First, we calculate the total cost of the hotel for 4 days: Ho t e l t o t a l = 4 × Ho t e l p erD a y = 4 × 230 = 920 Next, we calculate the total cost of the rental car for 4 days: C a r t o t a l = 4 × C a r p erD a y = 4 × 110 = 440 Then, we calculate the total per diem cost for 4 days: P erD i e m t o t a l = 4 × P erD i e m p erD a y = 4 × 55 = 220 After that, we calculate the total parking cost for 4 days: P a r kin g t o t a l = 4 × P a r kin g p erD a y = 4 × 40 = 160
Calculating Total Cost Now, we calculate the total daily expenses: D ai l y 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 = 920 + 440 + 220 + 160 = 1740 Finally, we calculate the total cost: T o t a lC os t = R e g i s t r a t i o n + C o v er a g e + D ai l y E x p e n se s t o t a l = 400 + 400 + 1740 = 2540
Final Answer Therefore, the total cost for attending the conference for 4 days is $2540 .
Examples
Understanding the total costs associated with attending a conference is crucial for budgeting and financial planning. For example, if a company is deciding whether to send an employee to a conference, they need to consider all the associated costs, such as registration fees, travel expenses, accommodation, and daily allowances. By accurately calculating these costs, the company can make an informed decision about the value and feasibility of attending the conference. This ensures effective resource allocation and financial management.
The total cost for attending the conference, including all expenses for 4 days, is $2540. This includes registration, hotel, rental car, per diem, parking, and coverage. Each cost was calculated separately and then summed to find the total.
;
