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  • Week 23 BUS - Revenue and Profit Case Study and Questions

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    Art Soupz
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    Ikram is a hairdresser whose revenue was 10% higher this year than last year when he earned $50,000. He charges $5 per customer and his costs are $2 per customer. His overhead expenses this year are $10,000. He served the same number of customers both years and did not increase prices.

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    Ikram is a hairdresser whose revenue was 10% higher this year than last year when he earned $50,000. He charges $5 per customer and his costs are $2 per customer. His overhead expenses this year are $10,000. He served the same number of customers both years and did not increase prices.

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    32 views1 page

    Week 23 BUS - Revenue and Profit Case Study and Questions

    Uploaded by

    Art Soupz
    Ikram is a hairdresser whose revenue was 10% higher this year than last year when he earned $50,000. He charges $5 per customer and his costs are $2 per customer. His overhead expenses this year are $10,000. He served the same number of customers both years and did not increase prices.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    Week 23 formative apply task

    Ikram is a hairdresser. His revenue was 10 per cent higher this


    year than last year. He earned revenue of $50,000 last year. He
    charged an average of $5 for each customer last year and has not
    increased prices. He buys in materials such as shampoo and
    hairspray and has calculated that the cost is an average of $2 for
    each customer. He estimates that his overhead expenses are
    $10,000 this year.

    a. Calculate Ikram’s revenue this year. Show your


    workings [2] (k)
    b. Ikram thinks that his profit next year will be
    higher if he increases his average prices to $6
    per customer. Do you agree? Justify your answer
    (6) (1K, 1App, 2An, 2 Ev)

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