Bubba Steakhouse has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: Materials = $4,080 Hourly labor (variable) = $5,200 Rent (fixed) $1,755 Depreciation = $770 Other fixed costs = $530 Each steak dinner sells for $12.00 each. How much would profit increase if 10 more dinners were sold?
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- You are selling a new line of T-shirts on the boardwalk. The selling price will be $25 per shirt The labor cost is $5 per shirt. Additionally, the cost of materials will be $10 per shirt. The administrative costs of operating the company are estimated to be $60,000 annually, and the sales and marketing expenses are $20,000 a year. What is the break-even in units and BEP in dollars? Formulas: Contribution Margin = Unit Selling Price-Unit Variable Cost Profit - Total Revenue - Total Cost or Profit - Quantity Sold (Selling Price per unit - Variable Cost per unit) - Fixed Cost Fixed Cost Break-even (quantity) = Unit Selling Price - Unit Variable Cost Break-even ($) = Break-even (quantity). X Quantity Sold Fixed Cost + Profit Desired Unit Selling Price - Unit Variable Cost Target Quantity for certain profit =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?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
- You need 1,000 units of product Y per month. You currently make product Y in-house at a cost of $7/unit, which consists of $2/unit of fixed costs and $5/unit of variable costs. An outside supplier has offered to manufacture product Y for you at a wholesale price of $2 per unit. If you outsource the production of Y to the outside supplier in the short term, your profit will: increase by $3,000 decrease by $2,000 remain the same decrease by $3,000 increase by $2,000A manufacturer of sunglasses has a fixed cost of $50,000. This manufacturer expects to sell 5,000 pairs of sunglasses for $25.00. This price will give the manufacturer a 25 percent markup on price. Calculate the variable costs.Green Corporation expects to sell 3,000 plants a month. Its operations manager estimated the following monthly costs: Variable costs P 7,500; Fixed costs 15,000. What sales price per plant does she need to achieve to begin making a profit if she sells the estimated number of plants per month? A. P7.51B. P7.50C. P5.00D. P2.50
- Items purchased from a vendor cost $20 each, and the forecast for next year’s demand is 1,000 units. If it costs $5 every time an order is placed for more units and the storage cost is $4 per unit per year, a. What quantity should be ordered each time? b. What is the total ordering cost for a year? c. What is the total storage cost for a year?Framing House, Inc. produces and sells picture frames. Variable costs are expected to be $15 per frame; fixed costs for the year are expected to total $170,000. The budgeted selling price is $23 per frame. The sales dollars required to make a before-tax profit (πB) of $21,000 for Framing House would be:Schylar Pharmaceuticals, Inc., plans to sell 130,000 units of antibiotic at an average price of $22 each in the coming year. Total variable costs equal $1,086,800. Total fixed costs equal $8,000,000. (Round all ratios to four significant digits, and round all dollar amounts to the nearest dollar.)Required:1. What is the contribution margin per unit? What is the contribution margin ratio?2. Calculate the sales revenue needed to break even.3. Calculate the sales revenue needed to achieve a target profit of $245,000.4. What if the average price per unit increased to $23.50? Recalculate:a. Contribution margin per unitb. Contribution margin ratio (rounded to four decimal places)c. Sales revenue needed to break evend. Sales revenue needed to achieve a target profit of $245,000
- You have developed the following estimates for procuring an item for your manufacturing operations:? is 3,600 units yearly (10 units per day)? is ₱25 per item? is ₱35 per order? is 25% annuallyThe following two (2) options are available for you:Option 1: the supplier can supply all items at once.Option 2: The supplier can supply 15 items per day.Based on the information you have, which of the above options would you prefer?Planck, the new owner of the vehicle accessory shop, is considering buying sets of winter tyres for $ 299 per set and selling each set at $ 520. Fixed costs related to this operation amount to $ 3250 per month. It is expected that 18 sets per month could be sold. How much profit will Planck make each month? Round to the nearest one. Hint: use the contribution margin approach.Plank, the new owner of the vehicle accessory shop, is considering buying sets of winter tyres for $ 299 per set and selling them at $ 520 each. Fixed costs related to this operation amount to $ 3250 per month. It is expected that 18 sets per month could be sold. How much profit will Plank make each month? Hint: use the contribution margin approach.