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8) Colin was a professional classical guitar player until his motorcycle accident that left him...

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8) Colin was a professional classical guitar player until his motorcycle accident that left him disabled. After long months of therapy, he hired an experienced luthier (maker of stringed instruments) and started a small shop to make and sell Spanish guitars. The guitars sell for $700 and the fixed monthly operating costs are as follows: Rent and utilities $1,000 Wages and benefits to luthier 2,500 Other expenses 481 The contribution margin ratio is 60%. What is the amount of revenue Colin should earn each month to break even? Colin wishes to earn $5,100 of operating profit each month. Calculate the amount of sales revenue required to achieve the target profit

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