Final answer:
The contribution margin ratio calculated from the given data is 50%, and the fixed costs amount to $2,500. The calculation uses the formula for the contribution margin ratio (contribution margin divided by sales) and the fixed costs as derived from the total costs minus variable costs and income.
Step-by-step explanation:
To compute the contribution margin ratio and fixed costs using the provided data, we first calculate the contribution margin. The contribution margin is sales minus variable costs. In this case, it would be $6,000 - $3,000 = $3,000. The contribution margin ratio is then the contribution margin divided by sales, which is $3,000 / $6,000 = 0.5 or 50%. Now, to calculate the fixed costs, we need to consider that income (or profit) is sales minus total costs, which includes fixed costs plus variable costs. Having the income ($500), sales ($6,000), and variable costs ($3,000), we can calculate the fixed costs. Sales minus variable costs minus income gives us the fixed costs: $6,000 - $3,000 - $500 = $2,500.
In the context of the example of "The Clip Joint" barber shop, the total costs are calculated by adding the fixed costs of operating the barber shop and the variable costs of hiring barbers. If two barbers are hired, the calculation would be: Fixed costs ($160) + Variable costs (2 × $80) = Total costs ($320).