To determine the contribution percentage of insurance from the total annual expenses, follow these steps:
### Step 1: Sum up all the annual expenses in each category
Let's list the expenses:
- Payroll: \[tex]$282,564
- Advertising: \$[/tex]6,498
- Raw Materials: \[tex]$174,623
- Rent: \$[/tex]47,968
- Insurance: \[tex]$5,137
- Utilities: \$[/tex]11,690
- Services: \[tex]$7,600
Now, add them together to get the total expenses:
\[ \text{Total Expenses} = 282,564 + 6,498 + 174,623 + 47,968 + 5,137 + 11,690 + 7,600 \]
Performing the addition:
\[ 282,564 + 6,498 = 289,062 \]
\[ 289,062 + 174,623 = 463,685 \]
\[ 463,685 + 47,968 = 511,653 \]
\[ 511,653 + 5,137 = 516,790 \]
\[ 516,790 + 11,690 = 528,480 \]
\[ 528,480 + 7,600 = 536,080 \]
So, the total annual expenses are:
\[ \text{Total Expenses} = \$[/tex]536,080 \]
### Step 2: Calculate the contribution percentage of insurance
The formula to calculate the percentage contribution of a category is:
[tex]\[ \text{Percentage Contribution} = \left( \frac{\text{Category Expense}}{\text{Total Expenses}} \right) \times 100 \][/tex]
Plugging in the values for insurance:
[tex]\[ \text{Insurance Contribution Percentage} = \left( \frac{5,137}{536,080} \right) \times 100 \][/tex]
Calculating step-by-step:
[tex]\[ \frac{5,137}{536,080} \approx 0.009582524996269213 \][/tex]
Now convert it to a percentage by multiplying by 100:
[tex]\[ 0.009582524996269213 \times 100 \approx 0.9582524996269213 \][/tex]
### Step 3: Round to the nearest whole percent
[tex]\[ 0.9582524996269213 \approx 1\% \][/tex]
### Final Answer
The contribution percentage of insurance to the total annual expenses, rounded to the nearest whole percent, is:
[tex]\[ \boxed{1 \%} \][/tex]
