The Sasoon Barber Shop employs four barbers. One barber, who also serves as the manager,...
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Accounting
The Sasoon Barber Shop employs four barbers. One barber, who also serves as the manager, is paid a salary of $3,000 per month. The other barbers are paid $1,500 per month. In addition, each barber is paid a commission of $3 per haircut. Other monthly costs are store rent $700 plus 60 cents per haircut, depreciation on equipment $400,barber supplies 40 cents per haircut, utilities $300, and advertising $100. The price of a haircut is $10.
Determine the net income, assuming 1,800 haircuts are given in a month.
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