Knots and Reynolds provides hair cutting services in the local community
Knots and Reynolds provides hair-cutting services in the local community. In February, the business cut the hair of 240 clients, earned $4,900 in revenues, and incurred the following operating costs:
Hair Supplies Expense....... $ 375
Wages Expense......... 1,321
Utilities Expense..................... 150
Depreciation Expense—Equipment. 50
What was the cost of service to provide one haircut?
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