Problem 22-1A (Part Level Submission) Vin Diesel owns the Fredonia Barber Shop. He employs 5 barbers and pays each a base rate o
1 answer:
Answer:
Total monthly fixed cost = $8,440
Variable cost per haircut = $6.26
Explanation:
Provided information we have,
Fixed cost is defined as the cost which does not depend on quantum of activity and is fixed in value.
Here, we have
Fixed cost = base cost to barbers + extra to manager + advertising + rent + utilities + haircut magazines
= ($1,300 5 + $540 + $290 + $910 + $180 + $20)
= $6,500 + $1,940 = $8,440
Variable cost is the cost which is dependable on quantum of activity and changes with each unit.
Variable cost = commission per haircut + barber supplies + utilities
= $5.63 + $0.39 + $0.24 = $6.26 per haircut
Total monthly fixed cost = $8,440
Variable cost per haircut = $6.26
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Answer:
Ans. your monthly payment, for 30 years is $9,257.51 if you buy a property worth $1,000,000 and you make a down payment of $100,000
Explanation:
Hi, first we have to change the fixed rate in terms of an effective monthly rate, which is 1% effective monthly (12% nominal interest/12 =1% effective monthly). After that, take into account that the property is going to be paid in 30 years, but since the payments are going to be made in a montlhly basis, we have to turn years into months (30 years * 12 = 360 months).
After all that is done, all we have to do is to solve the following equiation for "A".
Where:
A= Annuity or monthly payment
r= Rate (effective monthly, in our case)
n= Periods to pay (360 months)
Everything should look like this.
Best of luck.