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Current Attempt in Progress Anthony Herrera recently fulfilled his long-time dream of opening a gym that offers spinning exercise classes for $5.70 per person. To
Current Attempt in Progress Anthony Herrera recently fulfilled his long-time dream of opening a gym that offers spinning exercise classes for $5.70 per person. To differentiate his gym and better serve his clients, Anthony provides a towel, a bottle of water, and an after-workout protein shake to each person participating in a class, at a cost of $2.71 per person. Anthony employs three part-time instructors and pays them each $1.290 par month. He also pays himself a monthly salary of $4,494. Anthony's other monthly costs are $1608 for rent, $1,380 for depreciation on his 34 bikes, and $1986 in utilities and insurance. (a) What is Anthony's contribution margin per unit? (Round answer to 2 decimal piaces, eg. 52.75.) Contribution margin S per unit to 2 decimal places, e.g. 52.75.) (b) What is Anthony's contribution margin ratio? (Round answ er Contribution margin ratio (c) Prepare Anthony's monthly contribution format income statement. Assume that he teaches 5,327 clients. (Round per unit values to 2 decimal places, eg 52.75 and all other answers to 0 decimal places, eg. 5,275) Unit eTextbook and Media Attempts: 0 of 3 used Save for Later Check
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