1,500 meals were sold last period at a local restaurant at a variable cost per meal of $8. Total fixed costs are $5,000 per period. What is their total cost per meal? a. $8.30 per meal b. $11 per meal c. $11.33 per meal
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- What is the contribution margin ratio for this financial accounting question?A college's food operation has an average meal price of $9.20. Variable costs are $4.35 per meal and fixed costs total $95,000. How many meals must be sold to provide an operating income of $33,000? How many meals would have to be sold if fixed costs declined by 23%? (round to the nearest meal) answer this accounting questionA college's food operation has an average meal price of $9.20. Variable costs are $4.35 per meal and fixed costs total $95,000. How many meals must be sold to provide an operating income of $33,000? How many meals would have to be sold if fixed costs declined by 23%? (round to the nearest meal) answer
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- Following is relevant information for Philly's Sandwich Shop, a small business that serves sandwiches: Total fixed cost per month Variable cost per sandwich $1,020.00 1.50 Sales price per sandwich 5.75 During the month of June, Philly's sold 580 sandwiches. Required: Complete the contribution margin income statement for the month of June. Note: Round your final answers to the nearest whole dollar. Philly's Sandwich Shop Contribution Margin Income Statement Month of June Contribution margin Net Operating incomeAnswer this QuestionA yogurt company sells its product for S4 per cup. The variable costs to produce each cup add up to $1.50. The company's fixed costs each month are $300,000. What is the unit contribution? S 300, 005.50 $2.50 $5.50 $120,000
- Round to the nearest mealcalculate the required number of meals.Cost accounting: Assume that MTA Sandwiches sells sandwiches for $3.25 each. The cost of each sandwich follows: Materials $1.10, Labor $0.20, Variable Overhead $$0.30, Fixed overhead ($18,000 per month, 1800 units per month) $1.00 Total cost per sandwich $$2.60 One of MTA's regular customer asked the company to fill a special order of sandwiches at a selling price of $2.25 each for a fund-raising event sponsored by a social club at the local college. MTA has capacity to fill it without affecting total fixed costs for the month. MTA's general manager was concerned about selling the sandwiches below the cost of $2.60 per sandwich and has asked for your advice. Required: a. Prepare a schedule to show the impact on MTA's profits of providing 600 sandwiches in addition to the regular production and sales 0f 18,000 sandwiches per month.