Terminology Assignment: It is very important to understand various terms associated with the calculation of break-even. Let’s practice understanding...

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TerminologyAssignment:
It is very important to understand various termsassociated with the calculation of break-even. Let’s practiceunderstanding this terminology by assuming that you own a doggrooming business. You will use the dog grooming service as a basiswhen answering the following questions; this assignment does notpertain to the health care business that you are creating for thisclass:
1. Research the concept of break-even point. Why is it importantfor you to know how many dogs must be groomed each week in orderfor you to reach your break-even point? What would be the effect ifyou did not know this number? (4 points)
2. Research the concept of fixed costs. Give two examples offixed costs for your dog grooming service. (4 points)
3. Research the concept of variable costs. Give two examples ofvariable costs for your dog grooming service. (4 points)
4. How are the fixed costs and the variable costs in yourbusiness affected by changes in productivity levels? What might youdo to reduce both the fixed and variable costs as the owner of thedog grooming service? (6 points)

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TerminologyAssignment:It is very important to understand various termsassociated with the calculation of break-even. Let’s practiceunderstanding this terminology by assuming that you own a doggrooming business. You will use the dog grooming service as a basiswhen answering the following questions; this assignment does notpertain to the health care business that you are creating for thisclass:1. Research the concept of break-even point. Why is it importantfor you to know how many dogs must be groomed each week in orderfor you to reach your break-even point? What would be the effect ifyou did not know this number? (4 points)2. Research the concept of fixed costs. Give two examples offixed costs for your dog grooming service. (4 points)3. Research the concept of variable costs. Give two examples ofvariable costs for your dog grooming service. (4 points)4. How are the fixed costs and the variable costs in yourbusiness affected by changes in productivity levels? What might youdo to reduce both the fixed and variable costs as the owner of thedog grooming service? (6 points)