Vin Diesel owns the Fredonia Barber Shop. He employs 4 barbers and pays each a base salary of $1,250 per month. One of the barbers serves as the manager and receives an extra $500 per month. In addition to the base salary, each barber also receives a commission of $4.50 per haircut Other costs are as follows. Advertising Rent Barber supplies Utilities Magazines (a) $200 per month $1,100 per month, $0.30 per haircut per month plus $0.20 per haircut Vin currently charges $10.00 per haircut. $175 $25 per month Total fixed costs Determine the unit variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, e.g. 2.25.) Total unit variable cost per haircut

Vin Diesel owns the Fredonia Barber Shop. He employs 4 barbers and pays each a base salary of $1,250 per month. One of the barbers serves as the manager and receives an extra $500 per month. In addition to the base salary, each barber also receives a commission of $4.50 per haircut Other costs are as follows. Advertising Rent Barber supplies Utilities Magazines (a) $200 per month $1,100 per month, $0.30 per haircut per month plus $0.20 per haircut Vin currently charges $10.00 per haircut. $175 $25 per month Total fixed costs Determine the unit variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, e.g. 2.25.) Total unit variable cost per haircut

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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