to the text In an effort to increase business in 2016, Nir-Van-A (a company that provides van rentals) decided to discount its prices. Following is financial information from 2015 and 2016. Note that minimum wage for service workers has increased in 2016. Calculate the labour cost margin for each year. Do not enter dollar signs or commas in the input box. Round your answers to 2 decimal places. Item 2016 $1,008,000 $747,000 Revenue Payroll and Related Expenses Labour Cost Margin 1.34 2015 % 1.37 $951,000 $690,000 %
to the text In an effort to increase business in 2016, Nir-Van-A (a company that provides van rentals) decided to discount its prices. Following is financial information from 2015 and 2016. Note that minimum wage for service workers has increased in 2016. Calculate the labour cost margin for each year. Do not enter dollar signs or commas in the input box. Round your answers to 2 decimal places. Item 2016 $1,008,000 $747,000 Revenue Payroll and Related Expenses Labour Cost Margin 1.34 2015 % 1.37 $951,000 $690,000 %
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter29: Interest, Rent, And Profit
Section: Chapter Questions
Problem 9QP
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