1)You just got an internship at Apple this summer. They have offered to pay you $50/hour for 12 weeks of summer. You will take a standard deduction for a single person in 2020 (look it up) and there will be deductions from your paycheck for medical insurance of $300/month. If you work 40 hours per week, how much will your take home be for the entire summer?

2) You are sitting in a meeting and several people are talking about the breakeven price for the introduction of a new product. What is the Breakeven price?

Sales Price $40/unit

Variable costs $10/unit

Fixed Costs $40,000/year

Volume 2000 units per year