Blossom Diesel owns the Fredonia Barber Shop. He employs 7 barbers and pays each a base rate of $1,470 per month. One of the barbers serves as the manager and receives an extra $530 per month. In addition to the base rate, each barber also receives a commission of $5.50 per haircut.

Other costs are as follows.

Advertising $310 per month
Rent $930 per month
Barber supplies $0.30 per haircut
Utilities $175 per month plus $0.20 per haircut
Magazines $20 per month

Blossom currently charges $11.00 per haircut.
(a)

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
$enter the Total variable cost per haircut in dollars rounded to 2 decimal places
6
Total fixed $enter the total fixed costs in dollars rounded to 2 decimal places
12255

(b)
Compute the break-even point in units and dollars.

Break-even point
enter the break-even point in units 2,451 haircuts
Break even sales $enter the break-even point in dollars
26,961
(d)
Determine net income, assuming 2,880 haircuts are given in a month.

Net income / (Loss)
$enter net income in dollars

Answers

Answer 1

a) The determination of the variable costs per haircut and the total monthly fixed costs for Fredonia Barber Shop are as follows:

1) Variable Costs per haircut:

Commission per barber per haircut = $5.50

Barber supplies  per haircut =             $0.30

Utilities per haircut =                            $0.20

Total variable costs per haircut =     $6.00

2) Fixed costs per month:

Salaryiesof barbers (6 x $1,470) = $8,820

Supervisor's salary                      = $2,000

Advertising  per month =                   $310

Rent  per month =                             $930

Utilities per month =                          $175

Magazines  per month =                    $20

Total fixed costs per month =   $12,255

b) The computation of the break-even point in units and dollars for Fredonia Barber Shop is as follows:

1) Break-even point in units is 2,451 units ($12,255/$5)

= Fixed costs/Contribution margin per unit

Contribution margin per unit = $5 ($11 - $6)

2) Break-even point in dollars is $26,964 ($12,255/45.45%)

= Fixed costs/Contribution margin ratio

Contribution margin ratiio = 45.45% ($5/$11 x 100)

c) The net income when 2,880 haircuts are given in a month is $2,145.

Fredonia Barber Shop

Income Statement

For the month

Sales Revenue (2,880 x $11) $31,680

Variable costs (2,880 x $6)    17,280

Contribution margin =          $14,400

Fixed costs                             12,255

Net income =                         $2,145

Data and Calculations:

Number of barbers employed = 7

Base rate per barber per month = $1,470

Mnager's salary per month = $2,000 ($1,470 + $530)

Commission per barber per haircut = $5.50

Other costs:

Advertising  per month = $310

Rent  per month = $930

Barber supplies  per haircut = $0.30

Utilities per month = $175 plus $0.20 per haircut

Magazines  per month = $20

Price charged per haircut = $11.00

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Related Questions

a.
Which is the best way of getting feedback from a performance review?
Take good notes
b. Ask good questions
Arrive unprepared
d. Discuss the review with friends
c.
Please select the best answer from the choices provided
A
ОВ
Ο C
OD

Answers

Answer:

take good notes and ask good questions

Explanation:

why because taking good notes help you go through back again, ask good questions keeps it in ur mind....

Answer:

a.

Take good notes

Explanation:

When an installment note is issued, the journal entry will include a __________ to __________.

a. debit; Notes Payable
b. debit; Cash
c. credit; Cash
d. credit; Notes Receivable

Answers

When an installment notice is issued, the journal entry will include a debit to cash

B. Debit; Cash

Which of these would Congress look to do during a recession, as it pertains to fiscal policy?
a. Raise taxes
b. Raise government spending
c. Decrease the discount rate
d. Print more money

Answers

Answer:

Raise taxes

Explanation:

This will help reduce the amount of money in circulation because during recession money loses its value due to large amount of money in circulation

Hector a Maria have been married for almost one year now and are thinking about buying a house. Maria is an executive for a​ large, multinational corporation with offices around the world. She has been told by her company that she will be transferred to a new location every three years. Hector is a car salesman and he is willing to move to wherever Maria gets transferred. Together they make​ $8,000 in gross monthly income and pay​ 40% in taxes and withholdings every month. Between them they have monthly payment of​ $400 in student loans and​ $700 in car​ loans, and their credit cards payments average​ $450 per month. They currently lease a luxury condo for​ $1,400 per month. They travel to Cancun every Christmas. Since they both work a lot of​ hours, they eat out at restaurants for most meals. They currently have nothing in savings but​ Hector's grandparents have said they will give them a​ 20% down payment for the new home. Assuming a PITI of approximately​ $1,300 for the​ townhouse, will they be approved for a​ mortgage?

Answers

Assuming a PITI of approximately​ $1,300 for the​ townhouse, and given Hector and Maria's PITI of $4,300, the couple will not be approved for a mortgage.

What is PITI?

The PITI means principal, interest, taxes, and insurance.  Traditionally, the PITI should not exceed 28% of the gross income of Hector and Maria.

Since they both earn a gross monthly income of $8,000, they are likely to get approved for the mortgage but for the townhouse's limit of $1,300.

Data and Calculations:

Gross monthly income = $8,000

PITI maximum = 28% or $2,240 ($8,000 x 28%)

Taxes and withholdings per month = 40% or $3,200 ($8,000 x 40%)

Student loans payments = $400

Car loans payments = $700

Approximate PITI per month = $4,300

Excluded in PITI calculations:

Credit cards payments per month = $450

Lease for luxury condo per month = $1,400

Thus, given the townhouse's PITI of $1,300, Hector and Maria will not be approved for a mortgage.

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ABC has revenues of $22 million and expenses of $15 million. XYZ has revenues of $150 million and expenses of $110 million. Can you determine which company is more efficient from these income statements

Answers

Based on the data given on the revenues and expenses of both companies, the company that is more efficient is ABC.

Which company is more efficient?

The company that is more efficient is the one with a higher Net profit margin.

ABC Net profit margin:

= (Revenues - Expenses) / Revenues x 100%

= (22 - 15) / 22

= 32%

XYZ Net profit margin:

= (150 - 110) / 150

= 27%

Company ABC is therefore more efficient.

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A perfectly competitive firm has fixed costs of $1 million a month, variable costs of $2 million a month and product sales of $3 million a month. what statement is a correct analysis of the situation

Answers

Assuming a perfectly competitive firm has fixed costs of $1 million per month the company is making $0 profit.

The correct analysis

Using this formula

Analysis=Sales-Fixed cost-Variable cost

Where:

Sales=$3 million

Fixed cost=$1 million

Variable cost=$2 million

Let plug in the formula

Analysis=$3 million-$1 million-$2 million

Analysis=$0

Inconclusion the company is making $0 profit.

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3. Once you turn 18, you should regularly check your credit report...
For errors or signs of identity fraud
To keep an eye on your credit score
To make a plan for improving your credit score
Only if you have a credit card

Answers

Answer:

A - For errors or signs of identity fraud

Explanation:

That is the correct answer, good luck, and have a good day.

Distinguish between economic and accounting profit

Answers

Answer:

The main difference between accounting and economic Profit is that accounting profit refers to monetary revenue minus monetary costs which includes any type of cost in the organization in the form of rents, salaries, material costs etc. Economic profit refers to the monetary revenue minus total cost.

Explanation:

The differences between economic and accounting profits exist in their definitions, despite their similarities.

What is economic profit?

Economic profit has the following characteristics:

It includes both explicit and implicit costs.It is determined by economic principles, especially the economic concept of opportunity cost.In summary, economic profit is the total revenue minus both implicit (opportunity cost) and explicit costs.

What is accounting profit?

Accounting profit has the following characteristics:

It includes only explicit costs.It is determined by accounting principles (U.S. GAAP or IFRS).It is equal to net income or revenue minus explicit expenses.

Thus, there are differences between accounting and economic profits.

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Do imports threaten the jobs of people in the importing country?​

Answers

Answer:

It depends upon what is imported.

If a chocolate making machine is imported, it will create jobs because the importer of the machine will employ people to make chocolates.

If chocolate is imported, it will threaten the jobs of people who are already engaged in making chocolates.

Not necessarily. In many cases it helps the manufacturing base here. For example, the wood used for fingerboard guitar manufacturing here in the U.S. is frequently imported from India. The type of wood is aesthetically pleasing and, I am told, has great sound quality. We import a lot of our aluminum as it isn’t very common here in the States. It makes for a lot of jobs here to have that aluminum imported. So, not necessarily. It could be a very good thing.

Type the correct answer in the box. Spell all words correctly.
Kwa Lee works as the production manager in a manufacturing company that makes microwave ovens. He wants the products to meet the
generally applicable standards related to environment radiation.
Which law must Kwa Lee follow related to the products his company manufactures?
Kwa Lee and his company must adhere to the standards in the
Blank

Answers

Answer:

Resource conservation and Recovery Act

Explanation:

This is the answrer correct me if wrong

The law that  Kwa Lee follow that is related to the products his company manufactures is: Resource conservation and Recovery Act.

What is Resource Conservation and Recovery Act?

The Resource Conservation and Recovery Act is an act that was establish to help prevent disposal waste that can be harmful to the our wellbeing .

Based on the given scenario Kwa lee and his  has to comply  to the standard in the Resource Conservation and Recovery Act.

Therefore the law that  Kwa Lee follow that is related to the products his company manufactures is: Resource conservation and Recovery Act.

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The fixed budget indicates direct labor costs of $27,500. Actual direct labor costs were $27,000. The variance is:

Answers

Based on the information given the variance is $500 favorable.


Variance

Using this formula

Variance=Fixed Direct labor cost-Actual direct labor cost

Where:

Fixed Direct labor cost=$27,500

Actual direct labor cost=$27,000

Let plug in the formula

Variance=$27,500-$27,000

Variance=$500 favorable

Inconclusion  the variance is $500 favorable.

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why language is an important of communication tools?

Answers

Answer:

Because Language is a communication tool used by everyone in their daily life as a means to convey information and arguments to others. Explanation:

Makes Sense.

Answer:

The effective communication is made possible with the help of language. Language employs a combination of words to communicate ideas in a meaningful way. By changing the word order in a sentence, you can change its meaning, and even make it meaningless.

roles of private sectors in tourism in Africa

Answers

The roles of private sectors in tourism in Africa include the following:

Investing in the tourism sector with time and money.Reducing trips to destinations outside of Africa.Identifying holiday centers and attractive sitesDeveloping beaches.Promoting tourist products through Social Media.Encouraging adventure tours.

What is tourism?

Tourism is the process of spending time away from your home for the following purposes:

RecreationRelaxationPleasure Using commercial services.

In Africa, tourism centers have been identified in Uganda, Algeria, Egypt, South Africa, Kenya, Morocco, Tunisia, Ghana, and Tanzania.

The types of tourism include:

Adventure tourismBeach tourismCultural (food) tourismEcotourism (experiential tourism)Medical tourismWildlife tourism.

Thus, the private sectors in Africa have different roles in tourism development.

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are retail businesses where customers
come to your place of business to purchase a product.
is a section of land that is zoned

Answers

Answer:

that is a retailer jobs as thay give the goods to us by

Explanation:

first producers gives goods to wholesalers in lumsum amount and then they sell to different retailers such as hawker or shopkeeper and then the shopkeeper sells to us

no it's not but it is sell items or services to customers for their consumption, use or pleasure

ACCOUNTING - The matching concept
a. requires that the dollar amount of debits equal the dollar amount of credits on a trial balance
b. states that expenses related to revenue be reported at the same time the revenue is reported
c. addresses the relationship between the journal and the balance sheet
d. determines whether the normal balance of an account is a debit or credit

Answers

b. states that expenses related to revenue be reported at the same time the revenue is reported

Why is it important for a company to pay attention to its
supply chain when practicing CSR?
O A. The company needs to ask its suppliers to help
advertise for the company.
O B. The company needs to request the EPA's approval
for all of its suppliers.
O C. The company needs to make sure its suppliers are
providing products at the lowest cost.
O D. The company needs to make sure its suppliers are
treating the planet with respect.

Answers

The company needs to make sure its suppliers are providing products at the lowest cost reason it is important for a company to pay attention to its supply chain when practicing CSR.

What is CSR?

Corporate social responsibility CSR is a concept where a business engages in activities that makes it accountable to a wide range of stakeholders.

Corporate social responsibly make businesses corporate citizens. A business shares some of its profits with society by funding projects and programs that benefit the community.

Hence, the company needs to make sure its suppliers are providing products at the lowest cost reason it is important for a company to pay attention to its supply chain when practicing CSR.

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Two companies are having a dispute over a broken real estate
contract. They argue the dispute in front of a neutral third
party, who makes a ruling in favor of one side. This is an
example of _____
O A. mediation
B. negotiation
C. arbitration
D. conciliation

Answers

Answer:

C. Arbitration

Explanation:

It heans to have an independent unbiased person settle a dispute

The two companies have a dispute over a broken real estate contract. They argue the dispute in front of a neutral third party, who makes a ruling in favor of one side. This is an example of arbitration. Thus option (C) is correct.

What is arbitration?

Arbitration is a method of dispute resolution in which parties to a dispute agree to have their case heard and decided by one or more independent arbitrators, rather than by a court of law.

In arbitration, the arbitrators listen to evidence presented by both sides and make a binding decision based on the facts and the applicable law. Arbitration can be used to resolve a wide range of disputes, including commercial disputes between businesses, disputes between employers and employees, and disputes between individuals.

When the dispute of two companies  is resolved by neutral third party is an example of arbitration. Therefore, option (C) is correct.

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The chair of the board of directors says, “There is a 50 percent chance this company will earn a profit, a 30 percent chance it will break even, and a 20 percent chance it will lose money next quarter.” a. Use an addition rule to find the probability the company will not lose money next quarter. b. Use the complement rule to find the probability it will not lose money next quarter

Answers

The probability that the company will not lose money next quarter using both addition and complement rules is 0.8.

Calculation of a Probability Using Addition and Complement Rules

Let:

P(E) = The probability that the company will earn a profit next quarter = 50%, or 0.50

P(B) = The probability that the company will break even next quarter = 30%, or 0.30

P(L) = The probability the company will lose money next quarter = 20%, or 0.20

P(NL) = The probability the company will not lose money next quarter = ?

Therefore, we have:

a. The probability the company will not lose money next quarter using addition rule can be calculated as follows:

P(NL) = P(E) + P(B) = 0.5 + 0.3 = 0.8

b. The probability the company will not lose money next quarter using complement rule can be calculated as follows:

P(NL) = 1 – P(L) = 1 – 0.2 = 0.8

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What are the ethical considerations in this case

Answers

Ethical considerations in research are a set of principles that guide your research designs and practices. These principles include voluntary participation, informed consent, anonymity, confidentiality, potential for harm, and results communication.

Which of the following is considered a construction craft?

A: Architect
B: Drafter
C: Bricklayer

Answers

Answer:

Bricklayer

Explanation:

This is because with Bricklayer, you are doing physical work, physical construction, which happens to be laying bricks.

Answer : C


Hope this helped.

What is the difference between carriage forward and carriage paid?

Answers

Answer: carriage forward means delivery is being laid by the buyer. Carriage paid means delivery is paid by the seller.

In which situation would a person pay a higher property tax than he or she did
the year before?
O A. The value of the person's home increased.
B. The amount the person spent on electronics increased.
O c. The number of dependents the person had increased.
O D. The salary the person earned increased.
Helppp

Answers

Answer:

The answer is A: The value of the person's home increased.

Explanation:

Keywords here are property tax indicating that the answer would most likely mention a piece of land or a house.

Which consumer protection law requires that products be free of defects when sold?
a. used car rule
b. uniform commercial code
c. bill of consumer rights
d. credit card accountability, responsibility, and disclosure act

Answers

The  uniform commercial code is a law that requires that products are free of defects when  they are sold.

What is the  uniform commercial code?

This is a term, that is used to refer to all of the commercial laws that are used to apply to the buying and the selling of goods in the US.

The law protects customers in such a way that the products are free of defects when they buy. The products can also be returned if they are not.

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The consumer protection law that requires that products be free of defects when sold is the b. uniform commercial code

What is Consumer Protection Laws?

This refers to those laws put in place in order to protect the customer from unethical practices of business owners.

Hence, we can note that the uniform commercial code is the consumer protection law that requires that products be free of defects when sold so that the customers can get the maximum value for the products.

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In a civil case, the first document filed is a(n)
A. Interrogatory
B. Complaint
C. Deposition
D. Answer

Answers

Answer:

A.Interrogatory

Explanation:I hope help you

If a company spends $20 million to install new footwear-making equipment with capacity to produce 1 million pairs of athletic footwear at its North American production facility, then its annual depreciation costs at that facility will rise by: _________

Answers

Assuming the equipment has capacity to produce 1 million pairs of athletic. Its annual depreciation costs at that facility will rise by $2 million or 10%.

Annual depreciation cost

Using this formula

Depreciation = (Cost of equipment - Estimated salvage value) / Estimated useful life

Depreciation= (20 - 0) / 10

Depreciation= $2 million

Or

Annual depreciation= 2/20 ×100

Annual depreciation= 10%

Therefore, the annual depreciation costs at that facility will rise by $2 million or 10%.

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ACCT - Utilities Expense is a/an
a. Asset
b. Liability
c. Revenue
d. Expense

Answers

Utilities Expense - D. Expense

Disadvantage of not having Poka-Yoke

Answers

Ya I’m sure so n definitely polka tile lol what

The Loan Payable account is a/an
a. Asset
b. Liability
c. Revenue
d. Expense

Note Receivable is a/an
a. Asset
b. Liability
c. Revenue
d. Expense

Answers

Loan Payable - Liability
Note Receivable - Asset

If a firm's expected sales are $264,000 and its break-even sales are $197,000, the margin of safety in dollars is:

Answers

Assuming the firm's expected sales are $264,000 in which the firm break-even sales are $197,000, the margin of safety in dollars is:$67,000.

Margin of safety in dollars

Using this formula

Margin of safety in dollars=Expected sales-Break-even sales

Where:

Expected sales=$264,000

Break-even sales=$197,000

Let plug in the formula

Margin of safety in dollars=$264,000-$197,000

Margin of safety in dollars=$67,000

Inconclusion the margin of safety in dollars is: $67,000.

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What is the purpose of long-term disability insurance?
A. To replace a portion of a person's income if that person cannot
work
B. To provide a guaranteed loan to pay expenses until a person is
able to work again
C. To provide financial support for loved ones after a person dies
O D. To pay medical expenses if a person is hospitalized for an illness
or injury

Answers

The main purpose of of long-term disability insurance is: A. To replace a portion of a person's income if that person cannot work.

What is  long-term disability insurance?

Long-term disability insurance can be defined as the type of insurance coverage that help to guide a person income if the person is unable to work as a result of illness or injury.

Long-term disability insurance  is important  when it comes to unforeseen circumstance.

Inconclusion to replace a portion of a person's income if that person cannot work.

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