If Farmer Jane sells her tomatoes for $3 per pound and has variable cost of $1.50 perpound, how many pounds would she need to sell after her fixed expenses of $500 toshow a net profit of $2,000?O a) 1333 poundsO b) 1667 poundsc) 667 poundsd) 833 pounds

Here in this question we are required to calculate how many pound tomatoes need to sell to show a…

Answered: If Farmer Jane sells her tomatoes for…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Fred Flingstone operates a French Fries stand at the local flee market that operates for 8 weekends through the summer. The market vendor fee is $50 per weekend, his vendor insurance is $376 for the summer and he has committed to paying a helper $150 per weekend. His variable costs are $1.58 per French Fries (This includes the cost of napkins, ketchup and salt). He plans to sell the fries for $3.50 each and he knows from experience that he can make a maximum of 200 fries each weekend. a) How many fries does he have to sell per week to break even? b) On one weekend he gets sick and cannot get to the market? What is his net loss for that weekend? c) Another french fries vendor at the market sells fries for $3.10 each. How many fries would Fred have to sell in summer at this price to break even assuming none of his costs change? d) How much would he have to change the variable costs (assuming original fixed costs) to maintain his original break even point if he sold fries at $3.00?

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If Farmer Jane sells her tomatoes for $3 per pound and has variable cost of $1.50 per pound, how many pounds would she need to sell after her fixed expenses of $500 to show a net profit of $2,000? O a) 1333 pounds b) 1667 pounds c) 667 pounds O d) 833 pounds