Ester and George want to make soup. In order to get the right balance of ingredients for their tastes they bought 3 pounds of potatoes at $3.23 per pound, 2 poundsof cod for $2.27 per pound, and 4 pounds of fish broth for $3.27 per pound. Determine the cost per pound of the soup.The cost per pound of the soup is $(Round to the nearest cent.)

Particular Cost per pound Pound Potatoes 3.23 3 Cod 2.27 2 Fish broth 3.27 4

Answered: Ester and George want to make soup. In…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

Frank sells produce. He must mark the selling price of bananas high enough to make the desired profit. He paid $0.45 per pound for 400 pounds of bananas. On average, 10% of the bananas will spoil. Find the selling price per pound needed to achieve 145% markup on cost.
A coworker of Miller’s recommends that she maximize the shelf space devoted to those drinks with the highest contribution margin per case. Do you agree with this recommendation? Explain briefly
Tortillas costs $4.00 per 20 count bag; meat cost $3.00 per 1b, rice cost $14 for a 25 lb bag; Refried beans cost $3.60 for a 64 oz can.; cheese cost $15.00 per 5-lb. package; salsa costs $2.80 for a 40 oz. jar. Club members will make the burritos and staff the stand on a volunteer basis. The university requires each vendor to pay a one-time $25.00 permit fee. You also need to purchase a canopy for $150, a small grill for $400 and other supplies for $100. Your club plans to donate the profits from the burrito sales to a local children's hospital. 1. How many burritos can you anticipate selling assuming that 10% of the attendees will buy a burrito? 2. What quantity of each raw material do you need to buy? 3. Calculate your Cost of Goods per burrito (COGS) 4. Anticipate selling each burrito for $8.00. Create and show a properly formatted basic Income Statement P & L. WHAT IS YOUR NET PROFIT MARGIN as a percentage? 5. Calculate your Break- Even point based on your expenses required for…
Underground Food Store has 6,000 pounds of raw beef nearing its expiration date. Each pound has a cost of $4.40. The beef could be sold "as is" for $3.00 per pound to the dog food processing plant, or roasted and sold in the deli. The cost of roasting the beef will be $2.80 per pound, and each pound could be sold for $6.40. What should be done with the beef, and why? If required, round final answers to two decimal places. The beef processed further since the sales price by $ per pound and the cost only by $ per pound.
Gatorade manufactures and sells a nutrition drink for children. It wants to develop a standard cost per gallon. The following are required for production of a 100 gallon batch: 15 minutes 1,960 ounces of lime Cool-Drink at $.12 per ounce 40 pounds of sugar at $.60 per pound 63 kiwi fruit at $.50 each 100 protein tablets at $.90 each 4,000 ounces of water at $.003 per ounce Gatorade estimates that 2% of the lime Kool-Drink is wasted, 20% of the sugar is lost, and 10% of the kiwis cannot be used. Instructions Compute the standard cost of the ingredients for one gallon of the nutrition drink. Please write in word
Café Tropical is a local restaurant specializing in tropical cuisine. Among its various Hawaiian-themed menu item is the popular "Surprise-Me-Smoothie." The smoothies are sold to regular customers at a price of $6.50 per smoothie. The café typically sells 40 smoothies during breakfast. At this quantity, the smoothies cost the café $2.50 each to make - $2.00 of the cost is variable and $0.50 of the cost is fixed. The restaurant is currently operating at 80% capacity during the breakfast hour. The only menu item offered during breakfast is the smoothie. The café is considering accepting a special catering order for their "Surprise-Me-Smoothie" from the Jazzagals before they depart for their a cappella competition. The Jazzagals will need the smoothies ready for breakfast, one of the café's busiest times. The Jazzagals need 30 smoothies and would like a discounted price of $4.50 per smoothie because of the quantity. What will be the effect on operating income if Café Tropical accepts the…
Rosemary is planning to make fancy multi-tiered wedding cakes for the next wedding season. To make the cakes, she must invest $742 in some special baking pans and tools. To get started, she needs to spend $2,130 to advertise in the newspaper. She estimates that supplies and materials for each cake will cost $56. She is planning to set the price for each cake at $561. a.) Calculate the contribution margin. b.) Calculate the contribution rate. (A percentage correct to 2 decimal places.) c.) Calculate the break-even point in units. (Round up to the next whole unit.) d.) Calculate the break-even point in sales dollars. (Use the rounded number of units.)
A grocery store is selling hamburger at $1.35 per pound (Ib). What is the price of 3 pounds (Ibs ) of hamburger?
Lizzie Gunderson wants to throw a Christmas party for some of her friends. She decides on serving pizza and ice cream. The pizzas cost $12.99 each and can be sliced into 8 slices. If 14 friends come to the party and each will eat 3 slices of pizza, how many pizzas should Lizzie buy?
Mark rents a stall in the public market for ₱5,000.00 a month. He has a helper who helps in his business and he pays him a salary of ₱8,000 a month. He orders fresh chicken from a supplier that costs him ₱140.00 per kilo. He sells the chicken to his customers at ₱160.00 per kilo. How you will illustrate the variable cost (VC) when x be the number kilos of chicken sold?
1. Yum Yum Bake Shop makes birthday chocolate chip cookies that cost $2.00 each to prepare. It is expected that 8% of the cookies will crack and be discarded. If a 55% markup on cost is required and 100 cookies are produced, what should the bake shop charge for each cookie? (Round your answer to the nearest cent.)
The Case: GIGI’S CATERING (E)After understanding the inputs, Gigi decided to proceed with planning the process. The sheervolume of the undertaking made Gigi shudder in anticipation. “While earning P225,000 for onenight’s work is very attractive, it’s going to be very difficult cooking 450 kilos of chicken and 75kilos of rice,” she thought “That’s almost half a ton of chicken!” (Note: The numbers may bedifferent from what your group had already determined based on your analyses of previouscaselettes.)In principle, Gigi decided to break down the major steps into four: food preparation, cooking,packaging and delivery. Food preparation involves the cleaning, cutting and marinating of thechicken. Cooking involves the frying of the chicken and the coking of rice. Packing involvesportioning the chicken and the rice and placing them into the Styrofoam packs. Deliveryincludes everything from loading the trucks to the actual trip of delivery to the school.Gigi asked her brother to help her to…

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS