Garrett Motors is a small car dealership. On average, it sells a car for $29,500, which...
Garrett Motors is a small car dealership. On average, it sells a car for $29,500, which it purchases from the manufacturer for $25,000. Each month, Garrett Motors pays $59,800 in rent and utilities and $72,000 for salespeople's salaries. in addition to their salaries, salespeople are paid a commission for $800 for each car they sell. Garrett Motors also spends $9,000 each month for local advertisements. its tax rate is 40%.
Requirement 1. How many cars must Garrett Motors sell each month to break even?
Breakeven number of cars = ____ / ____
Requirement 2
Garrett Motors has a target monthly net income of $57,600. What is targeted monthly operating income? How many cars must be sold each month to reach the target monthly net income of $57,600?
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