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You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equiphmen per month and charge your customers $18 per hour. Your anticipated costs include: Advertising $52.00 per month Gas $1.50 per hour $25.00 per month Depreciation Assistant's Wages Miscellaneous Expenses $8.00 per hour $330.00 per month Calculate your budgeted Total Contribution Margin on the contribution margin income statement.

You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equiphmen per month and charge your customers $18 per hour. Your anticipated costs include: Advertising $52.00 per month Gas $1.50 per hour $25.00 per month Depreciation Assistant's Wages Miscellaneous Expenses $8.00 per hour $330.00 per month Calculate your budgeted Total Contribution Margin on the contribution margin income statement.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 240 hours per month and charge your customers $18 per hour. Your anticipated costs include: Advertising $52.00 per month Gas $1.50 per hour $25.00 per month Depreciation Assistant's Wages $8.00 per hour Miscellaneous Expenses $330.00 per month Calculate your budgeted Total Contribution Margin on the contribution margin income statement.
Transcribed Image Text:You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 240 hours per month and charge your customers $18 per hour. Your anticipated costs include: Advertising $52.00 per month Gas $1.50 per hour $25.00 per month Depreciation Assistant's Wages $8.00 per hour Miscellaneous Expenses $330.00 per month Calculate your budgeted Total Contribution Margin on the contribution margin income statement.
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