Please do not give solution in image format thanku Blossom Diesel owns the Fredonia Barber Shop. He employs 6 barbers and pays each a base rate of $1,470 per month.One of the barbers serves as the manager and receives an extra $500 per month. In addition to the base rate, eachbarber also receives a commission of $8.45 per haircut.Other costs are as follows.AdvertisingRentBarber suppliesUtilities.MagazinesTotal fixed2.)Blossom currently charges $15 per haircut.1.) Determine the variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places,e.g. 2.25.)Total variable cost per haircutBreak-even point$290$920$0.45$190$20Break even sales3.)per monthper monthper haircutper month plus $0.10 per haircutper monthCompute the break-even point in units and dollars.$$$haircuts.Determine net income, assuming 2,000 haircuts are given in a month.Net income (Loss) $

The contribution margin is calculated as the difference between the sales and variable costs. The…

Blossom Diesel owns the Fredonia Barber Shop. He employs 6 barbers and pays each a base rate of $1,470 per month One of the barbers serves as the manager and receives an extra $500 per month. In addition to the base rate, each barber also receives a commission of $8.45 per haircut. Other costs are as follows. Advertising Rent Barber supplies Utilities Magazines Total fixed Blossom currently charges $15 per haircut. 1.) Determine the variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal place e.g. 2.25.) Total variable cost per haircut 2.) $290 $920 per month $0.45 per haircut $190 per month plus $0.10 per haircut $20 per month Break-even point Break even sales per month Compute the break-even point in units and dollars. $ $ $ haircuts 3.) Determine net income, assuming 2,000 haircuts are given in a month. Net income / (Loss) $

Blossom Diesel owns the Fredonia Barber Shop. He employs 6 barbers and pays each a base rate of $1,470 per month One of the barbers serves as the manager and receives an extra $500 per month. In addition to the base rate, each barber also receives a commission of $8.45 per haircut. Other costs are as follows. Advertising Rent Barber supplies Utilities Magazines Total fixed Blossom currently charges $15 per haircut. 1.) Determine the variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal place e.g. 2.25.) Total variable cost per haircut 2.) $290 $920 per month $0.45 per haircut $190 per month plus $0.10 per haircut $20 per month Break-even point Break even sales per month Compute the break-even point in units and dollars. $ $ $ haircuts 3.) Determine net income, assuming 2,000 haircuts are given in a month. Net income / (Loss) $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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