A college's food operation has an average meal price of $7.00. Variable costs are $3.75 per meal and fixed costs total $75,000. How many meals must be sold to provide an operating income of $30,000? How many meals would have to be sold if fixed costs declined by 20%? (round to the nearest meal) A. 24,698 B. 27,002 C. 27,692 D. 26,667
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- ?1. University Catering sells 50 pound bags of popcorn in the university dormitories for P10 abag. Fixed cost of this operation are P80,000 while variable costs of the popcorn are P.10per pound.a. What is the BEP in bags?b. Calculate the EBIT or loss on 12,000 bags and 25,000 bags.c. Calculate the EBIT or loss on 25,000 bags.Projected financial results for the university's cafeteria for next year are shown. Answer each of the following independent questions. Sales $944,000 Fixed Cost $597,000 Total Variable Cost $235, 470 Total Cost $832, 470 Net Income $111,530 (a) How much is the contribution margin and the contribution rate?(b) How much does the business need to sell to break even?(c) If the business was to spend $24,000 to upgrade their processes, how much does the business need to sell to break even?(d) If 9% more meals were sold, what would be the resulting net income?
- How do I calculate the contribution margin for this problem (E21-21)?8. The fixed cost of the banquet department of a hotel is $350 a day. A customer selected a menu for 100 persons that would have a food cost of $6.50 per person, a variable wage cost of $2.75 per person, and other variable costs of $1.25 per person. a. Calculate the total cost per person if this banquet were booked. b. What should be the total selling price (sales revenue) and the price per person if a 20% operating income on sales revenue is wanted? c. The customer does not want to pay more than $13.75 per person for this function. She is a good customer; she has booked many functions in the banquet room in the past and is expected to do so in the future. The function is three days from now, and there is no likelihood you will be able to book the room for any other function. Explain why you would, or would not, accept the $13.75 per-person price. (Note: Assume that the hotel has only one banquet room.)Based on the description below, answer the questions that follow. The manager of a local restaurant spends $8,500 for its monthly fixed cost. Its variable cost is $9 per customer. Determine the amount of its Contribution Margin (CM) to generate the EBT of $6,500. (Do not put "$" or "," in your answer. Put only the number. For example put 10000 for $10,000. FYI, the Canvas will put "" automatically by itself. If necessary, round your answer to the nearest dollar.
- 3. The Swift Meal has two restaurants that are open 24 hours a day. Fixed costs for the two restaurants together total $456,000 per year. Service varies from a cup of coffee to full meals. The average sales check per customer is $9.50. The average cost of food and other variable costs for each customer is $3.80. The income tax rate is 30%. Target net income is $159,600. Compute the revenues needed to earn the target net income. b. How many customers are needed to break even? To earn net income of S159,600? c. Compute net income if the number of customers is 145,000.Cost Behavior Analysis in a Restaurant: High-Low Cost Estimation Assume a Papa John's restaurant has the following information available regarding costs at representative levels of monthly sales: Monthly sales in units 5,000 8,000 10,000 Cost of food sold $10,000 $16,000 $20,000 Wages and fringe benefits 4,200 4,320 4,400 Fees paid delivery help 1,100 1,760 2,200 Rent on building 1,100 1,100 1,100 Depreciation on equipment 900 900 900 Utilities 800 920 1,000 Supplies (soap, floor wax, etc.) 250 340 400 Administrative costs 1,700 1,700 1,700 Total $20,050 $27,040 $31,700 (a) Identify each cost as being variable, fixed, or mixed. Cost of food sold Wages and fringe benefits Fees paid delivery helpConsider the break-even number of students for a noncredit course in pottery. The course tuition is $500. The variable costs per student are pottery supplies of $300 and enrollment costs of $20. The fixed costs for the course are instructor's salary of $3,000 and rental cost of the classroom of $1,500. The break-even point is students. A) 15 B) 25 C) 35 D) 45 E) none of the above