=+4-21 K CVP analysis, income taxes OBJECTIVES 1, 2, 3 Chong Motors is a small car dealership.

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=+4-21 K CVP analysis, income taxes OBJECTIVES 1, 2, 3 Chong Motors is a small car dealership. On average, it sells a car for $24000, which it purchases from the manufacturer for

$20000. Each month, Chong Motors pays $55000 in rent and utilities and $70000 for salespeople’s salaries. In addition to their salaries, salespeople are paid a commission of $500 for each car they sell. Chong Motors also spends $15000 each month for local advertisements. Its tax rate is 30%.

Required 1 How many cars must Chong Motors sell each month to break even?

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