URGENT!

Cost Volume Profit Practice Problem Chattanooga Barber Shop's owner Mike is working on his accounting and budgeting for the year. He employs four barbers and pays each a base rate of $1,000 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 $4.00 per haircut. Other costs are as follows. Advertising $200 per month $1,400 per month Barber supplies $0.30 per haircut $175 per month plus $0.20 per haircut Magazines $25 per month Mike currently charges $15 per haircut. Rent Utilities If Mike thought that each barber could cut 4 clients per hour, and each barber worked a total of 8 hours per day, for the entire year, with the exception of 2 weeks vacation time off, what would the total revenues be for the year? $120,000 $30,000 $60,000 O $480,000 If Mike were to raise his price to $16 per haircut, what would he generate in net income if they are able to still do 1.200 haircuts per month? $6,300 $5,700 $19,200 O $7.500 Regarding the video Practice Problem 1 for CH 18 what is the variable cost per unit? $4.50 $4.00 O $5.00 $0.50 If Mike's rent were to increase to $2,000 per month, how many haircuts would be necessary to break even? 30,000 $9,870 134 658 Regarding CH 18 Practice Problem 1, If Mike wanted to have a net income of at least $4,500 how many haircuts would be necessary? 1,200 600 1,029 O 1,028 Regarding the Practice Problem 1 from CH 18 if there were to be 1,500 haircuts, what would be the expected total utilities cost? $475 $175.20 $6,300 O $175