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 for 4 days: 4 × 230 = 920 .
Calculate the total rental car cost for 4 days: 4 × 110 = 440 .
Calculate the total per diem cost for 4 days: 4 × 55 = 220 .
Calculate the total parking cost for 4 days: 4 × 40 = 160 .
Calculate the total cost: 400 + 920 + 440 + 220 + 160 + 400 = 2540 .
The total cost for attending the conference is 2540 .
Explanation
Understanding the Problem We need to calculate the total cost for attending a conference. The expenses include registration, hotel, rental car, per diem, parking, and coverage for 4 days. We have the cost per day for hotel, rental car, per diem, and parking. We also have the registration and coverage costs.
Calculating Total Hotel Cost First, let's calculate the total cost of the hotel for 4 days. The hotel costs $230 per day, so for 4 days, the total cost is: 4 × 230 = 920 So, the total hotel cost is $920 .
Calculating Total Rental Car Cost Next, let's calculate the total cost of the rental car for 4 days. The rental car costs $110 per day, so for 4 days, the total cost is: 4 × 110 = 440 So, the total rental car cost is $440 .
Calculating Total Per Diem Cost Now, let's calculate the total per diem cost for 4 days. The per diem is $55 per day, so for 4 days, the total cost is: 4 × 55 = 220 So, the total per diem cost is $220 .
Calculating Total Parking Cost Let's calculate the total parking cost for 4 days. Parking costs $40 per day, so for 4 days, the total cost is: 4 × 40 = 160 So, the total parking cost is $160 .
Calculating Total Cost Now, let's add up all the costs: registration, total hotel cost, total rental car cost, total per diem cost, total parking cost and coverage. Registration cost: $400 Total hotel cost: $920 Total rental car cost: $440 Total per diem cost: $220 Total parking cost: $160 Coverage cost: $400 Total cost: 400 + 920 + 440 + 220 + 160 + 400 = 2540 So, the total cost for attending the conference is $2540 .
Final Answer Therefore, the total cost for attending the conference is $2540 .
Examples
Understanding the total costs associated with attending a conference helps in budgeting and financial planning. For example, if a company is deciding whether to send an employee to a conference, they need to consider all associated costs, such as registration fees, travel, accommodation, and daily expenses. Accurately calculating these costs ensures that the company can make informed decisions about resource allocation and investment in employee development. This also applies to personal financial planning, where individuals need to estimate expenses for events, trips, or educational opportunities to manage their budgets effectively.
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 costs. Each of these expenses was calculated based on their respective daily fees and summed together.
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