PROBLEM #1 CG./g Jim Park started Park's Lube Services on January 1. Jim anticipates the following monthly budgeted costs: Facility rent $2,200 600 350 1.500 ul ent rent Advertising Wages (fixed) Bonus for workers, for each oil change Materials costs per oil change Utilities and other (fixed) 250 Required Answer the questions below and show all computations. All answers should be rounded to the nearest dollar or unit. 1. Compute the number of oil changes that must be performed each month to break even, assuming Jim charges $24.95 for each oil change 2. Compute the number of oil changes that must be performed each month to earn a profit before taxes of $2,500, assuming Jim charges $24.95 for each oil change. 3. Compute the number of oil changes that must be performed each month to earn a profit before taxes of $2,500, assuming Jim charges $29.95 for each oil change. 4. Compute the profit or loss if Jim sells 400 oil changes at a price of $24.95 each. Jim operates in a town with lots of competition for oil changes, but he decides to raise his prices to help pay for a vacation. At a price of $28.95 each, he sells only 300 oil changes. Compute the profit or loss. 5. 6. What is the potential danger of raising prices to earn more profit