Hi all, I'd be super grateful if anyone could help me out with this - I might be overcomplicating it in my head, but I'll go ahead anyway!
Organisation X states that it has spent £1,000,000 on 20 employees working 1,600 day in the last 13 months.
Now, as there aren't 1,600 days in 13 months, I want to get a slightly more accurate figure. However, without any other additional information, I can only work on averages until provided with something more accurate.
So, my calculation goes something like this:
1,600 days / 20 employees = 80 days worked each during the 13 month period
£1,000,000 spent / 20 employees = £50,000 paid to each employee
£50,000 paid to each / 80 days worked each = £625 a day paid to each
£625 a day paid to each x 20 employees = £12,500 cost per day
And then £12,500 x 80 days = £1,000,000 spent in total, back where we started.
So, am I justified in saying that the organisation has spent £12,500 a day on employing these 20 people?