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AA P22.2A (LO 1, 2, 3, 4) Service Vin Diesel owns the Fredonia Barber Shop....

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Accounting

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AA P22.2A (LO 1, 2, 3, 4) Service Vin Diesel owns the Fredonia Barber Shop. He employs four barbers and pays each a base rate 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 rate, each barber also receives a commission of $4.50 per haircut. Determine variable and fixed costs, compute break-even point, prepare a CVP graph, and determine net income. Other costs are as follows. Advertising $200 per month Rent $1,100 per month Barber supplies $0.30 per haircut Utilities $175 per month plus $0.20 per haircut Magazines $25 per month Vin currently charges $10 per haircut. Instructions a. Determine the variable costs per haircut and the total monthly fixed costs. VC $5 b. Compute the break-even point in units and dollars. c. Prepare a CVP graph, assuming a maximum of 1,800 haircuts in a month. Use increments of 300 haircuts on the horizontal axis and $3,000 on the vertical axis. d. Determine net income, assuming 1,600 haircuts are given in a month

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