PSMIR& AIS dass sold holdogs at the festival. They paid a $40 booth fee, as well as $20 for meat, $10 for buns and $10 for condiments. They were given small plates for free. They also paid $20 for decorations. The class was able to make a total of 40 hotdogs and sold them for $5.00 each. What is the price of the hotdogs?

PSMIR& AIS dass sold holdogs at the festival. They paid a $40 booth fee, as well as $20 for meat, $10 for buns and $10 for condiments. They were given small plates for free. They also paid $20 for decorations. The class was able to make a total of 40 hotdogs and sold them for $5.00 each. What is the price of the hotdogs?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Rahul
Each morning, Joel McKnight stocks the drink case at Joel's Beach Hut in Myrtle Beach, South Carolina. The drink case has 105 linear feet of refrigerated drink space. Each linear foot can hold either six 12-ounce cans or three 20-ounce bottles. (Click the icon to view the information on the cold drinks.) Joel's Beach Hut can sell all the drinks stocked in the display case each morning. Read the requirements. Requirements Print C 1. What is Joel's Beach Hut's constraining factor? What should Joel stock to maximize profits? 2. Suppose Joel's Beach Hut refuses to devote more than 65 linear feet to any individual product. Under this condition, how many linear feet of each drink should Joel's stock? How many units of each product will be available for sale each day? Done - X Data table Joel's Beach Hut sells three types of cold drinks: 1. ToBe in 12-oz. cans for $1.65 per can 2. ToBe in 20-oz. bottles for $1.90 per bottle 3. Value - Soda in 20-oz. bottles for $2.45 per bottle Joel's Beach…
Lola Girl brought her granddaughter to Jollibee for a treat. Her granddaughter requested that they both order kiddie meals so that the latter will have 2 new toys since each meal have a free one. The price of each meal is P120, net of VAT. How much is the amount due from Lola Girl?
Hello Sir, if you have the answer to this question, please send me an instant message and if not, cancel.
Coffee & Biscuit sells specialist coffee beverages from a rented cart at the local street market. They also supply free biscuits and napkins to their customers. Provided below are the details from the statement of profit or loss for May 2021. $ Sales revenue 27,000 Cost of beverages 4,800 Cost of biscuits 1,100 Cost of napkins 200 Rent of Cart 2,000 Wages 6,000 Calculate the net profit for May 2021 (ignoring taxes). If the cost of beverages, biscuits and napkins are classified as variable costs, and the rent of cart and wages are classified as fixed costs, calculate the break-even…
A school purchasing manager is seeking to buy tablets from either Entity A or Entity B and will pay shipping costs. The purchase price is $500 each. Entity A purchases the tablets from the manufacturer, Banana Industries (for $400). Entity A has the tablets shipped to its distribution center in Denver, and then ships them to schools when a sale is made. Entity A at times offers discounts to schools in accordance with its marketing strategy. On the other hand, Entity B sells tablets from a variety of manufacturers including Banana Industries. When a sale is made, Entity B remits the proceeds to the manufacturer, and retains a 10% commission (here $50). Entity B has no discretion as to the sales price. The manufacturer then ship the equipment to the customer. For each arrangement, indicate how much revenue and gross profit should be recognized. Provide support for your answer from the ASC and cite the applicable provisions. You should cite like this: ASC 606-10-35-3(e) so we can find…
The Shirt Works sells a large variety of tee shirts and sweatshirts. Steve Hooper, the owner, is thinking of expanding his sales by hiring high school students, on a commission basis, to sell sweatshirts bearing the name and mascot of the local high school. These sweatshirts would have to be ordered from the manufacturer six weeks in advance, and they could not be returned because of the unique printing required. The sweatshirts would cost Hooper $18.00 each with a minimum order of 174 sweatshirts. Any additional sweatshirts would have to be ordered in increments of 174. Since Hooper’s plan would not require any additional facilities, the only costs associated with the project would be the costs of the sweatshirts and the costs of the sales commissions. The selling price of the sweatshirts would be $36.00 each. Hooper would pay the students a commission of $5.00 for each shirt sold. Required: 1.What level of unit sales and dollar sales is needed to attain a target profit of $9,048? 2.…
Wholemark is an Internet order business that sells one popular New Year's greeting card once a year. The cost of the paper on which the card is printed is $0.05 per card, and the cost of printing is $0.15 per card. The company receives $2.15 per card sold. Since the cards have the current year printed on them, unsold cards have no salvage value. Its customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with a mean of 2,000 and a standard deviation 500. (Assume these four are independent.) What optimal production quantity for the card? is
Urmila
The Shirt Works sells a large variety of tee shirts and sweatshirts. Steve Hooper, the owner, is thinking of expanding his sales by hiring high school students, on a commission basis, to sell sweatshirts bearing the name and mascot of the local high school. These sweatshirts would have to be ordered from the manufacturer six weeks in advance, and they could not be returned because of the unique printing required. The sweatshirts would cost Hooper $20.00 each with a minimum order of 151 sweatshirts. Any additional sweatshirts would have to be ordered in increments of 151. Since Hooper’s plan would not require any additional facilities, the only costs associated with the project would be the costs of the sweatshirts and the costs of the sales commissions. The selling price of the sweatshirts would be $40.00 each. Hooper would pay the students a commission of $8.00 for each shirt sold. Required: 1. What level of unit sales and dollar sales is needed to attain a target profit of…
The Shirt Works sells a large variety of tee shirts and sweatshirts. Steve Hooper, the owner, is thinking of expanding his sales by hiring high school students, on a commission basis, to sell sweatshirts bearing the name and mascot of the local high school. These sweatshirts would have to be ordered from the manufacturer six weeks in advance and could not be returned because of the unique printing required. The sweatshirts would cost Hooper $23.00 each with a minimum order of 168 sweatshirts. Any additional sweatshirts would have to be ordered in increments of 168. Because Hooper's plan would not require any additional facilities, the only costs associated with the project would be the costs of the sweatshirts and the costs of the sales commissions. The selling price of the sweatshirts would be $46.00 each. Hooper would pay the students a commission of $6.00 for each shirt sold. Required: 1. What level of unit sales and dollar sales is needed to attain a target profit of $11,424? 2.…
s