Question: 5-1 Good Times Restaurant estimates the following costs for next year: fixed costs $120,000, variable cost per meal $15. If they want to earn a profit of $90,000 and charge $35 per meal, calculate the required number of meals.
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calculate the required number of meals.
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- Cost, Revenue, Profit You decide to begin selling ice cream cones at the local park and swap. Your cost for each ice cream cone is $1.33 plus you have to pay a fixed weekly fee of $240 for the booth. Your plan is to sell each ice cream cone for $2.75. 1. Write an expression to represent your total costs for the week if you sell n ice cream cones. Total Costs: 2. Write an expression to represent the revenue from the sale of n ice cream cones during the week. Revenue: 3. Write an expression that represents the profit for selling n ice cream cones in a given week. Profit: How many ice cream cones must you sell in order to make a positive profit? In order to make a positive profit, you would have to sell Select an answer ice cream cones. ↑Provide this question solution general accountingSpecial Order Nature's Garden, a new restaurant situated on a busy highway in Pomona, California, specializes in a chef's salad selling for $7. Daily fixed costs are $1,200, and variable costs are $4 per meal. With a capacity of 800 meals per day, the restaurant serves an average of 750 meals each day. (a.) Determine the current average cost per meal. Round your answer to two decimal places. $ (b.) A busload of 30 Girl Scouts stops on its way home from the San Bernardino National Forest. The leader offers to bring them in if the scouts can all be served a meal for a total of $150. The owner refuses, saying he would lose $0.60 per meal if he accepted this offer. How do you think the owner arrived at the $0.60 figure? $ Current average cost per meal Per meal revenue from Girl Scouts Loss per meal 0 0 0 $ (c.) A local businessman on a break overhears the conversation with the leader and offers the owners a one-year contract to feed 300 of the businessman's employees one meal each day at a…
- Use the following information to answer questions 6 & 7 Trader Tom's makes and sells frozen 4-cheese pizzas, New York style. The expected selling price is $10 per pizza. The projected variable cost per pizza is $6. The estimated fixed costs per month are $12,000. Determine the number of pizzas that must be sold to make a monthly Net Income of $20,000? If fixed costs increase by $5,000 and 6,000 pizzas are sold in a given month, determine the Net Income for that month?CONTRIBUTION MARGIN You rent a retail stall in the mall for $300 a month and use it to sell T-shirts with funny captions of the world we live in. You sell each T-shirt for $25, and your cost for each shirt is $15. You hired a salesperson and pays $400 salary per month plus a commission of $0.50 for every T-shirt sold. Create a contribution margin income statement for two different months: in one month, assume 100 T-shirts are sold, and in the other month, assume 200 T-shirts are sold.Urgently need the solution
- What is the selling price of a dining room set at Macy's? Assume actual cost is $840 and 55% markup on selling price. (Round your answer to the nearest cent.) Selling price %$4A college's food operation has an average meal price of $9.20. Variable costs are $4.35 per meal and fixed costs total $95,000. How many meals must be sold to provide an operating income of $33,000? How many meals would have to be sold if fixed costs declined by 23%? (round to the nearest meal) answer this accounting questionPlease help me with show all calculation thanku
- A college's food operation has an average meal price of $9.20. Variable costs are $4.35 per meal and fixed costs total $95,000. How many meals must be sold to provide an operating income of $33,000? How many meals would have to be sold if fixed costs declined by 23%? (round to the nearest meal) answerQuestion: The contribution margin income statement of Liberty Coffee for July attached Liberty Coffee sells three small coffees for every large coffee. A small coffee sells for $3.00, with a variable expense of $1.50. A large coffee sells for $5.00, with a variable expense of $2.50.Requirements Determine the coffee shop's monthly breakeven point in the numbers of small coffees and large coffees. Prove your answer by preparing a summary contribution margin income statement at the breakeven level of sales. Show only two categories of expenses: variable and fixed and Compute the coffee shop's margin of safety in dollars.A restaurant sells pizza at a rate of $14.35/slice. Expenses for the restaurant include raw material for pizza at $9.35 per slice, $152.00 as monthly rental and $58.00 monthly as insurance. How many slices should the restaurant sell in a month to break even? Submit