Ally mows lawns for a living. Ally's out-of-pocket expenses(for equipment, gas,and so on) plus the value that she places on her time amount to what?
Insufficient information ??
To determine the total expenses of Ally's lawn mowing business, we need to consider both out-of-pocket expenses and the value she places on her time.
1. Out-of-pocket expenses: These are expenses incurred for equipment, gas, and other direct costs. Ally should add up all the costs related to maintaining her equipment, such as lawnmowers, trimmers, fuel, oil, replacement parts, and maintenance. Additionally, she should include expenses like gasoline and other consumables necessary to carry out her work. Summing up all these expenses will give her the total out-of-pocket expenses.
2. Value of her time: This refers to the monetary worth Ally places on her time spent lawn mowing. To determine this, Ally needs to calculate how many hours she spends mowing lawns and how much she believes her time is worth per hour. For example, if she spends 40 hours per week and values her time at $20 per hour, the weekly value of her time would be 40 hours multiplied by $20.
Once Ally has calculated both her out-of-pocket expenses and the value of her time, she can add the two amounts together to find the total amount.