Andre's Hair Styling

In: Business and Management

Submitted By mysmith0105
Words 561
Pages 3
Andre’s Hair Styling
05/15/2016

Draft
A cost accounting system (also known as product costing system or costing system) is an outline utilized by businesses to guesstimate the cost of their manufactured goods for lucrativeness evaluation, inventory valuation and cost control. Appraising the precise cost of products is precarious for moneymaking operations. A company needs to recognize which products are lucrative and those that are not, and this can be determined when it has assessed the accurate cost of the product

Andre’s Hair Styling
Andre has asked you to evaluate his business, Andre’s Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid $9.90 per hour and works a 40-hour week and a 50-week year, regardless of the number of haircuts. Rent and other fixed expenses are $1,750 per month. Hair shampoo used on all clients is $0.40 per client. Assume that the only service performed is the giving of haircuts (including shampoo), the unit price of which is $12. Andre has asked you to find the following information. 1. Find the contribution margin per haircut. Assume that the barbers' compensation is a fixed cost. Show calculations to support your answer.
To find the contribution margin per haircut the formula is:
Contribution margin= Selling Price – Unit Variable Costs
Selling Price= $12
Unit Variable Costs= $0.40
$12 - 0.40= $11.60
The Contribution Margin per haircut is $11.60 2. Determine the annual break-even point, in number of haircuts. Support your answer with an appropriate explanation. Show calculations to support your answer.
Determining the Annual Break-Even point on the number of haircuts formula is as follow:
Fixed Cost= Workers Compensation+ Rent
Amount of workers= 5
Workers Compensation= $9.90 per hour
Hours Per week= 40 hrs. week
Week per year= 50 week a year
Fixed rent=$1750…...

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