Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Swifty Journeys Music School provides private music lessons for elementary students. Its operating costs are as follows: Rent on facilities $2,000 per month Advertising
Swifty Journeys Music School provides private music lessons for elementary students. Its operating costs are as follows: Rent on facilities $2,000 per month Advertising $845 per month Instrument Rent $730 per month. Teaching Instruction $37 per student Books $5 per student Other Costs $3 per student Swifty Journeys charges $100 per student per month. termine the company's break-even point in (1) number of students taught per month and (2) dollars. 1) Break even in number of students taught per month (2) Break even in dollars 79 students 7944 Swifty Journeys has just received notice that the rent on their facilities will be increasing by $642 per month and the instrument rent will also be increasing $18 per month. (1) Determine the company's break-even point in the number of students taught per month based on the new information. (2) Determine the amount to charge per student assuming that Swifty Journeys does not increase the number of students taught. If Swifty Journeys does not want to increase their fees, how many additional students will they need to attract? (Round amount to charge per student to 2 decimal places, e.g. 15.25.) (1) Break even in number of students taught per month (2) Amount to charge per student Additional number of students students. students
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started