than just blowing your profits on a big party, to invest in a way to grow your business and - you hope - bring in even more profits later. You have been working 50 hours per week at the shop but haven't taken any pay yet. You have money left to divide between your wage, and money to invest in growing your business. The more wages you pay yourself the less you will have to invest in your shop. > Weekly, you have been selling 30 brake replacements ($300 each), and 100 oil changes ($80 each). > Labor costs, have been about $4,400 per week: Technicians: $1,200 each Porter: $620 Service Writer: $800 Cashier: $580 > Supplies & parts cost you $3,400 per week Rent & utilities for your shop is $5,000 per week Insurance is $1,200 per week Show your work & circle your answer: 6. Calculate your total weekly revenue. 7. Calculate your weekly profit. 8. Determine your own weekly salary (This must come out of your answer to #7)? 9. Calculate your own hourly wage (based on your answer in #8). 10. Identify how much money is left for investment in capital goods? 11. Describe how division-of-labor exists in your shop.
than just blowing your profits on a big party, to invest in a way to grow your business and - you hope - bring in even more profits later. You have been working 50 hours per week at the shop but haven't taken any pay yet. You have money left to divide between your wage, and money to invest in growing your business. The more wages you pay yourself the less you will have to invest in your shop. > Weekly, you have been selling 30 brake replacements ($300 each), and 100 oil changes ($80 each). > Labor costs, have been about $4,400 per week: Technicians: $1,200 each Porter: $620 Service Writer: $800 Cashier: $580 > Supplies & parts cost you $3,400 per week Rent & utilities for your shop is $5,000 per week Insurance is $1,200 per week Show your work & circle your answer: 6. Calculate your total weekly revenue. 7. Calculate your weekly profit. 8. Determine your own weekly salary (This must come out of your answer to #7)? 9. Calculate your own hourly wage (based on your answer in #8). 10. Identify how much money is left for investment in capital goods? 11. Describe how division-of-labor exists in your shop.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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