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)
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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)
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- 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 questionProjected 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?Good Times Restaurant estimates the following costs for next year: fixed costs $120,000, variable cost per meal $15. If they want to earn a profit of $90,000 and charge $35 per meal, calculate the required number of meals. No WRONG ANSWER
- Good Times Restaurant estimates the following costs for next year: fixed costs $120,000, variable cost per meal $15. If they want to earn a profit of $90,000 and charge $35 per meal, calculate the required number of meals. Accounting 23Assume the total monthly operating costs of a Hardee’s restaurant are: $35,000 + $0.75Xwhere X = Number of burgers ordered Determine the average cost per burger if the monthly volume of burgers ordered is 20,000.Answer and solution please. Thank you! Chow Foods operates a cafeteria for its employees. The operations of the cafeteria requires fixed costs ofP470,000 per month and variable costs of 40% of sales. Cafeteria sales are currently averaging P1,200,000 permonth. The company has the opportunity to replace the cafeteria with vending machines. Gross customerspending at the vending machines is estimated to be 40% greater than the current sale because the vendingmachines are available at all hours. By replacing the cafeteria with vending machines, the company wouldreceive 16% of the gross customer spending and avoid cafeteria costs. A decision to replace the cafeteria withvending machines will result in a monthly increase (decrease) in operating income ofa. P182,000 b. P258,000 c. (P588,000) d. P18,800
- Espresso Express operates a number of espresso coffee stands in busy suburban malls. The fixed weeklyexpense of a coffee stand is $1,200 and the variable cost per cup of coffee served is $0.22.Required:1. Fill in the following table with your estimates of total costs and cost per cup of coffee at the indicatedlevels of activity for a coffee stand. Round off the cost of a cup of coffee to the nearest tenth of a cent.Cups of Coffee Served in a Week2,000 2,100 2,200Fixed cost ........................................................ ? ? ?Variable cost ................................................... ? ? ?Total costs ....................................................... ? ? ?Average cost per cup of coffee served ........... ? ? ?2. Does the average cost per cup of coffee served increase, decrease, or remain the same as the numberof cups of coffee served in a week increases? Explain.Who Done It Mystery Theater sells tickets for dinner and a show for $55 each. The cost of providing dinner is $40 per ticket and the fixed cost of operating the theater is $100,000 per month. The company can accommodate 15,000 patrons each month. What is the contribution margin ratio?Currently, Sweet Treats Bakery sells 1,200 cupcakes per month. The owners would like to increase net income above what is currently earned. Fixed costs are $1,500 per month and their contribution margin is $3 per cupcake. What would be a reasonable net income goal? O $1,800 O $2,600 O $2,100 O $5,600
- Super Clinics offers one service that has the following annual cost and volume estimates: Variable cost per visit = $10 Annual direct fixed costs = $50,000 Allocation of overhead costs = $20,000 Expected volume = 1,000 visits What price per visit must be set if the clinic wants to make an annual profit of $10,000 on the full cost of the service?Record 1-2-3 is a top-selling electronic spreadsheet product. Record is about to release version 5.0. It divides its customers into two groups: new customers and upgrade customers (those who previously purchased Record 1-2-3, 4.0 or earlier versions). Although the same physical product is provided to each customer group, sizable differences exist in selling prices and variable marketing costs: (Click the icon to view the price and cost information.) The fixed costs of Record 1-2-3 5.0 are $13,500,000. The planned sales mix in units is 60% new customers and 40% upgrade customers. Read the requirements. Requirement 1. What is the Record 1-2-3 5.0 breakeven point in units, assuming that the planned 60% / 40% sales mix is attained? The breakeven point is units for new customers and units for upgrade customers. Requirements 1. 2. 3. What is the Record 1-2-3 5.0 breakeven point in units, assuming that the planned 60% / 40% sales mix is attained? If the sales mix is attained, what is the…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.
