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Matthew Diesel owns the Fredonia Barber Shop. He employs 6 barbers and pays each a base salary of $1.490 per month. One of the barbers serves as the manager and receives an extra $600 per month. In addition to the base salary, each barber also receives a commission of $10.40 per haircut. Other costs are as follows. Advertising Rent Barber supplies Utilities Magazines $220 per month $950 per month $0.50 per haircut $195 $30 per month per month plus $0.10 per haircut Matthew currently charges $20.00 per haircut.

Matthew Diesel owns the Fredonia Barber Shop. He employs 6 barbers and pays each a base salary of $1.490 per month. One of the barbers serves as the manager and receives an extra $600 per month. In addition to the base salary, each barber also receives a commission of $10.40 per haircut. Other costs are as follows. Advertising Rent Barber supplies Utilities Magazines $220 per month $950 per month $0.50 per haircut $195 $30 per month per month plus $0.10 per haircut Matthew currently charges $20.00 per haircut.

FINANCIAL ACCOUNTING
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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Matthew Diesel owns the Fredonia Barber Shop. He employs 6 barbers and pays each a base salary of $1.490 per month. One of the barbers serves as the manager and receives an extra $600 per month. In addition to the base salary, each barber also receives a commission of $10.40 per haircut. Other costs are as follows. Advertising Rent Barber supplies Utilities Magazines $220 per month $950 per month $0.50 per haircut $195 per month plus $0.10 per haircut $30 per month Matthew currently charges $20.00 per haircut.
Transcribed Image Text:Matthew Diesel owns the Fredonia Barber Shop. He employs 6 barbers and pays each a base salary of $1.490 per month. One of the barbers serves as the manager and receives an extra $600 per month. In addition to the base salary, each barber also receives a commission of $10.40 per haircut. Other costs are as follows. Advertising Rent Barber supplies Utilities Magazines $220 per month $950 per month $0.50 per haircut $195 per month plus $0.10 per haircut $30 per month Matthew currently charges $20.00 per haircut.
Determine the unit variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, eg. 2.25.) Total unit variable cost per haircut Total fixed costs eTextbook and Media Break-even point Compute the break-even point in sales units and in sales dollars. Break-even point sales $ $ $ Net income $ haircuts Determine net income, assuming 1,630 haircuts are given in a month.
Transcribed Image Text:Determine the unit variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, eg. 2.25.) Total unit variable cost per haircut Total fixed costs eTextbook and Media Break-even point Compute the break-even point in sales units and in sales dollars. Break-even point sales $ $ $ Net income $ haircuts Determine net income, assuming 1,630 haircuts are given in a month.
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