Biscayne$$s Rent$-$A$-$Ride rents two models of automobiles: the standard and the deluxe. Information follows:

Standard Deluxe

Rental price per day $ $30\mathrm{.}00$ $ $38\mathrm{.}00$

Variable cost per day $10\mathrm{.}5015\mathrm{.}20$

Biscayne$$s total fixed cost is $$18,500$ per month.

Required:

$1.$ Determine the contribution margin per rental day and contribution margin ratio for each model that Biscayne$$s offers.

$2.$ Which model would Biscayne$$s prefer to rent?

$3.$ Calculate Biscayne$$s break$-$even point if the product mix is $50/50.$

$4.$ Calculate the break$-$even point if Biscayne$$s product mix changes so that the standard model is rented $75$ percent of the time and the deluxe model is rented for only $25$ percent.

$5.$ Calculate the break$-$even point if Biscayne$$s product mix changes so that the standard model is rented $25$ percent of the time and the deluxe model is rented for $75$ percent.