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?
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- ABC Company wants to host an awards dinner and guestrooms at your hotel, they will need dinner and drinks for 150 people and 75 guest rooms for one night. Food will be at $85.00 per person and beverages will be $30 per person. Your guest room rate will be $175 per guestroom. • Your food and beverage costs are 35% . Your food and beverage payroll cost is 40% • Food and beverage other expenses are $6 per person Your rooms payroll is $24 per guestroom Rooms other expenses is $12 per room Question: The Total rooms expense would be $4200.00 $2100.00 24% $6300.00 DAn organization is organizing a group dance competition. The organizers projected an attendance of 100 people. The estimated rental fee for the venue is $150 and the winning team group will get $500 in cash. How much should the organizers charge for a ticket to break-even?A clothing retailer is going to mail out 10,000 catalogues. It costs $2 to mail out each catalogue. When a customer places an order from a catalogue assume a profit of $50 per order is earned. It is assumed that 5% of those who receive a catalogue will place an order however, this number can vary. Use the file below to help you with your tables. Assume that: [total profit = total profit made from the orders – the amount spent on mailing out the catalogues]. a) Use a one-variable data table to determine how the total profit earned from the mailing will vary depending on a response rate between 4% and 10% (with increments of 2%). b) Create a two-variable data table to show how the total profit changes with a varying response rate and number of catalogues mailed. Vary the response rate between 4% and 10% with increments of 2% and vary the number of catalogues mailed from 10,000 to 30,000 at increments of 5000.
- 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…Natalie and Curtis have been experiencing great demand for their cookies and muffins. As a result, they are now thinking about buying a commercial oven. They know which oven they want and that it will cost $17,000. The company already has $5,000 set aside for the purchase and will need to borrow the rest. Natalie and Curtis met with a bank manager to discuss their options. She is willing to lend Cookie & Coffee Creations Inc. $12,000 on November 1, 2020, for 3 years at a 5% interest rate. The terms provide for fixed principal payments of $2,000 on May 1 and November 1 of each year plus 6 months of interest. Prepare a payment schedule for the life of the note. Prepare the journal entry for the purchase of the oven and the issue of the note payable on November 1, 2020. Prepare the journal entries on May 1 and November 1 for the note. Determine the current portion of the note payable and the long-term portion of the note payable at October 31, 2021.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…
- 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…Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes have a cost of $130. The manager asked Kim to price the running shoes with a 60% target gross margin Kim has priced the running shoes with a 60% markup percentage. Required: 1. What selling price does the manager want? Selling price 2. What selling price has Kim calculated? Selling priceRita Jekyll operates a sales booth in computer software trade shows, selling an accounting software package, Abacus. She purchases the package from a software company for $175 each. Booth space at the convention hall costs $13,000 per show. Required a. Sales at past trade shows have ranged between 300 and 500 software packages per show. Determine the average cost of sales per unit if Ms. Jekyll sells 300, 350, 400, 450, or 500 units of Abacus at a trade show. Use the following chart to organize your answer. Is the cost of booth space fixed or variable? b. If Ms. Jekyll wants to earn a $56 profit on each package of software she sells at a trade show, what price must she charge at sales volumes of 300, 350, 400, 450, or 500 units? c. Record the total cost of booth space if Ms. Jekyll attends four, five, six, seven, or eight trade shows. Is the cost of booth space fixed or variable relative to the number of shows attended? d. Ms. Jekyll provides decorative shopping bags to customers who…
- 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?Having recently graduated with a visual arts degree, Zane is considering starting a new business in this field, selling exotic artwork. He believes he can sell each piece of artwork for an average price of $600. The suppliers of the artwork will be paid a commission of 25% of the price. Artwork will be packed and delivered to the customer. Zane estimates that packing and delivery costs should be about $30 per product. There will be additional expenses associated with running the store. Rent will be $5,400 per month. Utilities (which it is assumed will not vary from month to month) will be $990 per month. Insurance and other expenses will be $750 per month. He plans to pay himself and one sales assistant salaries of $10,500 per month ($7,500 for himself and $3,000 for his assistant). The tax rate is assumed by Zane to be 30%. Required: a. Based on the information how many pieces of artwork per month would Zane need to sell to break even? Show all workings. b. If Zane wanted to earn a…Franiuk Hotdogs and Grill normally sells hotdogs for $2.00 but also t-shirts with the name of the business and its logo prominently displayed for $10. The t-shirts haven't been selling that well lately, so Franiuk has decided to sell a combination of the t-shirt for $10 with a free hotdog. Donovan buys the combination of the t-shirt and the hotdog for $10 in cash. How should Franiuk account for the transaction? O Franiuk should recognize $10 revenue, comprised of $10 for the t-shirt, $2 for the hotdog, and $2 as a liability. Franiuk should recognize $12 revenue, comprised of $10 for the t-shirt, $2 for the hotdog, and $2 for discount expense. O Franiuk should recognize $10 revenue, comprised of $8.33 for the t-shirt, $1.67 for the hotdog. O Franiuk should recognize $10 revenue, comprised of $10 for the t-shirt, $0 for the hotdog.