Michelle runs a gourmet poutine stand, selling $8 poutine. Michelle is the only employee, and she pays herself a salary of $15/hour. Her other costs include $1.50 for each serving of French fries, $1.10 for each serving of cheese, and an average of $0.35 per order for gravy. In addition, she has a $500/month lease on a car that she uses to transport supplies and ingredients to her stand. This month, Michelle has also needed to buy a space heater for $250 because the winter has been extreme. What is the margin (%) of Michelle's poutines? O a. Falls in the range of 60%-69% O b. Cannot determine based on the information provided Oc. Falls in the range of 50%-59% d. Falls in the range of 70%-79%

Michelle runs a gourmet poutine stand, selling $8 poutine. Michelle is the only employee, and she pays herself a salary of $15/hour. Her other costs include $1.50 for each serving of French fries, $1.10 for each serving of cheese, and an average of $0.35 per order for gravy. In addition, she has a $500/month lease on a car that she uses to transport supplies and ingredients to her stand. This month, Michelle has also needed to buy a space heater for $250 because the winter has been extreme. What is the margin (%) of Michelle's poutines? O a. Falls in the range of 60%-69% O b. Cannot determine based on the information provided Oc. Falls in the range of 50%-59% d. Falls in the range of 70%-79%

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter16: Tax Research

Section: Chapter Questions

Problem 64DNC

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