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Estimating, labor burden and cost of goods sold

from Markup & Profit

Devon Stone writes: When you own a small business you wear a lot of hats. Understanding the numbers might not be your favorite hat, but numbers are important because they show where you stand financially. One set of numbers is the estimated cost. You know how to create the estimate; if not, we have a class available. Another set of numbers is your profit and loss statement, usually generated from your accounting software. I want to explain how and why there needs to be a relationship between your estimated costs and your profit and loss statement. more


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