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Janice owns the Cute Cut Salon. She employs 5 stylists and pays each a base salary of $1,700 per month. One of the stylists serves as the manager, receiving an extra $500 per month. In addition to the base salary, each stylist receives a commission of $5 per haircut. Each stylist can do as many as 20 haircuts a day, but the average is 17 haircuts each per day. The Cute Cut Salon is open an average of 24 days per month.
Other financial information is as follows:
Required:
1. Compute the monthly break-even point for the following:
a. Number of haircuts. b. Total sales dollars. c. As a percentage of maximum capacity.
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