Brady Fitness recently opened a gym offering group cycling classes for $6.20 per person. To provide additional value, Brady offers each participant a towel, a bottle of water, and a protein bar, at a total cost of $3.00 per person. Brady employs four part- time instructors and pays each of them $1,500 per month. Brady also pays himself a monthly salary of $4,800. Other monthly costs include $2,200 for rent, $1,500 for depreciation on his 40 stationary bikes, and $2,000 in utilities and insurance. A. What is Brady's contribution margin per unit? B. What is Brady's contribution margin ratio?
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- Garrick is purchasing equipment for his job as a builder. The equipment costs $1000 and he wants to make monthly payments of $125. He has two different credit cards that he can use to finance the purchase. • Card A charges 9.9%, compounded daily, but it also charges a fee of $65 for all purchases over $1000 that is immediately added to the balance. • Card B charges 13.3%, compounded daily. What is the total cost of both options? Enter the total cost of the cheaper option here: Answer:Radien runs her own hot dog stand on the U of A campus. The monthly cost of the cart rental and business permit is $1,100. Raiden spends $2.50 on each hot dog sold, including bun and condiments. She sells each hot dog for $5.00. 1. What is the contribution margin per unit? 2. What is the contribution margin ratio? 3. Predict operating income for a month in which Raiden sells 1,300 hot dogsFred Flingstone operates a French Fries stand at the local flee market that operates for 8 weekends through the summer. The market vendor fee is $50 per weekend, his vendor insurance is $376 for the summer and he has committed to paying a helper $150 per weekend. His variable costs are $1.58 per French Fries (This includes the cost of napkins, ketchup and salt). He plans to sell the fries for $3.50 each and he knows from experience that he can make a maximum of 200 fries each weekend. a) How many fries does he have to sell per week to break even? b) On one weekend he gets sick and cannot get to the market? What is his net loss for that weekend? c) Another french fries vendor at the market sells fries for $3.10 each. How many fries would Fred have to sell in summer at this price to break even assuming none of his costs change? d) How much would he have to change the variable costs (assuming original fixed costs) to maintain his original break even point if he sold fries at $3.00?
- Meg O’Byte wants to buy a new computer for her business for Internetaccess on a cable modem. The computer system cost is $5,100. The cablecompany charges $200 (including the cable modem) for installation and hasa $50 a month usage fee for businesses, paid at the end of the month. Megexpects to buy the system with a $100 down payment, financing the balanceat 8 percent over the next 4 years. She will sell the computer for $1,000when she upgrades. She expects a $500 a month increase in cash flow and isin the 25 percent tax bracket.a. The start-up costs are __________________.b. The PVC is __________________.c. The PVB is __________________.d. The monthly payment for the computer is __________________.Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 50 percent of their fees in the month the service is provided. In the month following service, Paul collects 40 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 85 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul’s busiest months: June 1 cash balance $16,000. June 1 supplies on hand $4,400. June 1 accounts receivable $9,100. June 1 accounts payable $4,300. Estimated sales for June, July, and August are $27,300, $41,000, and $43,900, respectively.…Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 50 percent of their fees in the month the service is provided. In the month following service, Paul collects 40 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 85 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul's busiest months: ⚫ June 1 cash balance $16,000. ⚫ June 1 supplies on hand $4,400. ⚫ June 1 accounts receivable $9,100. • June 1 accounts payable $4,300. • Estimated sales for June, July, and August are $27,300, $41,000, and $43,900,…
- Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 40 percent of their fees in the month the service is provided. In the month following service, Paul collects 50 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 80 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul's busiest months: June 1 cash balance $16,300. June 1 supplies on hand $4,500. ⚫ June 1 accounts receivable $17,650. ⚫ June 1 accounts payable $2,800. " • • Estimated sales for June, July, and August are $27,900, $41,900, and $44,900,…Sheridan Diesel owns the Fredonia Barber Shop. He employs 4 barbers and pays each a base rate of $ 1,570 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 $ 9.05 per haircut. Other costs are as follows. Advertising $ 270 per month Rent $ 1,060 per month Barber supplies $0.45 per haircut Utilities $ 195 per month plus $ 0.10 per haircut Magazines $ 15 per month Sheridan currently charges $ 16 per haircut. 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 haircut 2$ 9.6 Total fixed 24 8320 eTextbook and Media Compute the break-even point in units and dollars. Break-even point haircuts Break even sales 2$ eTextbook and Media Determine net income, assuming 1,590 haircuts are given in a month. Net income / (Loss) $Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 50 percent of their fees in the month the service is provided. In the month following service, Paul collects 40 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 70 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul’s busiest months: June 1 cash balance $14,500. June 1 supplies on hand $3,900. June 1 accounts receivable $8,100. June 1 accounts payable $3,800. Estimated sales for June, July, and August are $24,300, $36,500, and $38,900,…
- Sam operates a small chain of pizza outlets in Fort Collins, Colorado. In November of this year, Sam decided to attend a two-day management training course. Sam could choose to attend the course in Denver or Los Angeles. Sam decided to attend the course in Los Angeles and take an eight-day vacation immediately after the course. Sam reported the following expenditures from the trip: Course Tuition Airfare Hotel (10 nights) Rental car (10 days) Meals at restaurants (10 days) What amount of travel expenditures can Sam deduct? $ 3,050 990 3,100 710 3,400Tyne, now retired, owns the Downtown Beauty Shop. She employs five (5) stylists and pays each a base rate of $500 per month. One of the stylists serves as the manager and receives an extra $300 per month. In addition to the base rate, each stylist also receives a commission of $3 per haircut. A stylist can do as many as 20 haircuts a day. The Downtown Beauty Shop is open 24 days a month. You can safely ignore income taxes. Other costs are incurred as follows: Advertising $ 200 per month Rent $ 400 per month Beauty Supplies $ 0.90 per haircut Utilities $ 175 per month plus $0.35 per haircut Magazines $ 25 per month Cleaning Supplies $ 0.15 per haircut ________________________________________ Renee currently charges $8 per haircut. Required: (a) Compute the break-even point in (1) number of haircuts, (2) total sales dollars, and (3) as a percentage of capacity. (b) In July, 1,400 haircuts were given. Compute the operating profits for the month. (c) Renee wants a $2,160…Complete both of the required questions!