MY NOTES ASK YOUR TEACH According to the Food and Nutrition Service of the U.S. Department of Agriculture, in one school year the National School Lunch Program (NSLP) served 31.2 million school lunches. Of these, 16.1 million were free lunches, 3.2 million were reduced price lunches, and 11.9 million were full price lunches. The federal govermment reimburses school districts $2.68 for each free lunch, $2.28 for each reduced-price lunch, and $0.25 for each paid lunch. In addition to cash reimbursements, schools are entitled to receive USDA foods called "entitlement" foods at a value of 19.50 cents for each lunch served. You are the administrator in charge of the school lunch program for your school district. Last month, the schools in your district served 28,000 free lunches, 18,000 "reduced-price" lunc and 53,000 regular-priced lunches. (a) Calculate the amount of reimbursement (in $) you expect to receive from the NSLP for last month, (b) In addition to the lunch reimbursement, the NSLP program pays your district $.035 per one-half pint of milk served with each meal. If each student averaged 1 one-half pint of milk per meal, calculate the total amount of milk reimbursement (in $) you expect for last month. %24 (c) The Bottom Line-What is the total amount of reimbursement (in $) your district will receive for last month? %24
MY NOTES ASK YOUR TEACH According to the Food and Nutrition Service of the U.S. Department of Agriculture, in one school year the National School Lunch Program (NSLP) served 31.2 million school lunches. Of these, 16.1 million were free lunches, 3.2 million were reduced price lunches, and 11.9 million were full price lunches. The federal govermment reimburses school districts $2.68 for each free lunch, $2.28 for each reduced-price lunch, and $0.25 for each paid lunch. In addition to cash reimbursements, schools are entitled to receive USDA foods called "entitlement" foods at a value of 19.50 cents for each lunch served. You are the administrator in charge of the school lunch program for your school district. Last month, the schools in your district served 28,000 free lunches, 18,000 "reduced-price" lunc and 53,000 regular-priced lunches. (a) Calculate the amount of reimbursement (in $) you expect to receive from the NSLP for last month, (b) In addition to the lunch reimbursement, the NSLP program pays your district $.035 per one-half pint of milk served with each meal. If each student averaged 1 one-half pint of milk per meal, calculate the total amount of milk reimbursement (in $) you expect for last month. %24 (c) The Bottom Line-What is the total amount of reimbursement (in $) your district will receive for last month? %24
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:MY NOTES
ASK YOUR TEACHEI
According to the Food and Nutrition Service of the U.S. Department of Agriculture, in one school year the National School Lunch Program (NSLP) served 31.2 million school lunches. Of
these, 16.1 million were free lunches, 3.2 million were reduced price lunches, and 11.9 million were full price lunches.
The federal government reimburses school districts $2.68 for each free lunch, $2.28 for each reduced-price lunch, and $0.25 for each paid lunch. In addition to cash reimbursements,
schools are entitled to receive USDA foods called "entitlement" foods at a value of 19.50 cents for each lunch served.
You are the administrator in charge of the school lunch program for your school district. Last month, the schools in your district served 28,000 free lunches, 18,000 "reduced-price" lunches
and 53,000 regular-priced lunches.
(a) Calculate the amount of reimbursement (in $) you expect to receive from the NSLP for last month.
(b) In addition to the lunch reimbursement, the NSLP program pays your district $.035 per one-half pint of milk served with each meal. If each student averaged 1 one-half pint of milk
per meal, calculate the total amount of milk reimbursement (in $) you expect for last month.
%24
(c) The Bottom Line-What is the total amount of reimbursement (in $) your district will receive for last month?
$
(d) Red Tape-The government paperwork you must submit requires that you report the average reimbursement (in $) per meal for both lunch and milk combined last month. Calculate
this amount. (Round your answer to the nearest cent.)
24
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