7 4. Caney Company provides lawn care services. Following are data for a recent week:Service Revenue$Variable Costs$16,15011,3054,845Contribution MarginCaneyprovided service to 95customers during the week. Determine the average amount the company charged each customer, the variable cost per customer, and the contribution margin ratio.Enter the number of customers serviced during the week, then calculate the amount per customer for service revenue, variable costs, contribution margin, contribution margin ratio, and contributionmargin ratio for the total. (Enter the amount per customer to two decimal places, X.XX.)TotalCustomersAmount perCustomerService Revenue$16,150Variable Costs11,305$4,845Contribution MarginContribution Margin Ratio%%

Contribution margin is the profit earned for each unit sold. It is calculated by deducting variable…

4. Caney Company provides lawn care services. Following are data for a recent week: Service Revenue $ 16,150 11,305 Variable Costs $ 4,845 Contribution Margin Caneyprovided service to 95customers during the week. Determine the average amount the company charged each

4. Caney Company provides lawn care services. Following are data for a recent week: Service Revenue $ 16,150 11,305 Variable Costs $ 4,845 Contribution Margin Caneyprovided service to 95customers during the week. Determine the average amount the company charged each

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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Question

4. Caney Company provides lawn care services. Following are data for a recent week:
Service Revenue
$
Variable Costs
$
16,150
11,305
4,845
Contribution Margin
Caneyprovided service to 95customers during the week. Determine the average amount the company charged each customer, the variable cost per customer, and the contribution margin ratio.
Enter the number of customers serviced during the week, then calculate the amount per customer for service revenue, variable costs, contribution margin, contribution margin ratio, and contribution
margin ratio for the total. (Enter the amount per customer to two decimal places, X.XX.)
Total
Customers
Amount per
Customer
Service Revenue
$
16,150
Variable Costs
11,305
$
4,845
Contribution Margin
Contribution Margin Ratio
%
%

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