You run a nail salon. Fixed monthly cost is $5,529.00 for rent and utilities, $5,744.00 is spent in salaries and $1,100.00 in insurance. Also every customer requires approximately $4.00 in supplies. You charge $85.00 on average for each service. You are considering moving the salon to an upscale neighborhood where the rent and utilities will increase to $11,216.00, salaries to $6,781.00 and insurance to $2,349.00 per month. Cost of supplies will increase to $6.00 per service. However you can now charge $167.00 per service. What is the PROFIT or Loss at the crossover point? If a loss include the - Round the quantity to 3 digits when using to calculate the profit Submit
You run a nail salon. Fixed monthly cost is $5,529.00 for rent and utilities, $5,744.00 is spent in salaries and $1,100.00 in insurance. Also every customer requires approximately $4.00 in supplies. You charge $85.00 on average for each service. You are considering moving the salon to an upscale neighborhood where the rent and utilities will increase to $11,216.00, salaries to $6,781.00 and insurance to $2,349.00 per month. Cost of supplies will increase to $6.00 per service. However you can now charge $167.00 per service. What is the PROFIT or Loss at the crossover point? If a loss include the - Round the quantity to 3 digits when using to calculate the profit Submit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:You run a nail salon. Fixed monthly cost is $5,529.00 for rent and utilities, $5,744.00 is spent in salaries and
$1,100.00 in insurance. Also every customer requires approximately $4.00 in supplies. You charge $85.00 on
average for each service.
You are considering moving the salon to an upscale neighborhood where the rent and utilities will increase to
$11,216.00, salaries to $6,781.00 and insurance to $2,349.00 per month. Cost of supplies will increase to $6.00
per service. However you can now charge $167.00 per service. What is the PROFIT or Loss at the crossover
point? If a loss include the-
Round the quantity to 3 digits when using to calculate the profit
Submit
Answer format: Number: Round to: 2 decimal places.
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