Take-a-Break Travel Company offers spring break travel packages to college students. Two of its packages, a 7-day. 6-night trip toCancun and a 5-day, 4-night trip to Jamalca, have the following characteristicsPackage SpecficationsOceanfront roon; nunber of nightsCancunJanaicaCost Data4.$57/nightMeals:Breakfasts$11/eaLunchesDinnersScuba diving tripsWater skiing tripsAirfare (round trip from Miami)$16/ea$26/ea376/ea$51/ea$32e (Cancun),$see (Janaica)$24 (Cancun),$44 (Janaica)Transportation to and from airportThe Cancun trip sells for $1,760, and the Jamatco trip selis for $1,520, and both packages allow two bags to be checked for free.Requlred:1. What are the current profit margins on both trips?2 Take-a-Break's management belleves that it must drop the price of each trip by $101 in order to remain competitive In the market.Recalculate profit margins for both packages at these price levels.

Total Cost for Cancun Trip & Jamaican Trip Cancun Jamaica Package Specification…

Take-a-Break Travel Company offers spring break travel packages to college students. Two of its packages, a 7-day. 6-night trip to Cancun and a 5-day, 4-night trip to Jamalca, have the following characteristics Package Specfications Oceanfront roon, nunber of nights Cancun Janaica Cost Data $57/night Meals: Breakfasts $11/ea Lunches $16/e8 $26/ea Dinners Scuba diving trips water skiing trips Airfare (round trip froe Miani) $76/ea 4. $51/ea $12e (Cancun), ssee (Janaica) Transportation to and from airport $24 (Cancun), 144 (Janaica) The Cancun trip sels for $1,760, and the Jamaica trip selis for $1,520, and both packages allow two bags to be checked for free. tequired: What are the current profit margins on both trips? -Take-a-Break's management belleves that it must drop the price of each trip by $101 in order to remain competitive in the market ecalculate profit margins for both packages at these price levels.

Take-a-Break Travel Company offers spring break travel packages to college students. Two of its packages, a 7-day. 6-night trip to Cancun and a 5-day, 4-night trip to Jamalca, have the following characteristics Package Specfications Oceanfront roon, nunber of nights Cancun Janaica Cost Data $57/night Meals: Breakfasts $11/ea Lunches $16/e8 $26/ea Dinners Scuba diving trips water skiing trips Airfare (round trip froe Miani) $76/ea 4. $51/ea $12e (Cancun), ssee (Janaica) Transportation to and from airport $24 (Cancun), 144 (Janaica) The Cancun trip sels for $1,760, and the Jamaica trip selis for $1,520, and both packages allow two bags to be checked for free. tequired: What are the current profit margins on both trips? -Take-a-Break's management belleves that it must drop the price of each trip by $101 in order to remain competitive in the market ecalculate profit margins for both packages at these price levels.

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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Take-a-Break Travel Company offers spring break travel packages to college students. Two of its packages, a 7-day, 6-night trip to Cancun and a 5-day, 4-night trip to Jamaica, have the following characteristics: Package Specifications Oceanfront room; number of nights Meals: Breakfasts Lunches Dinners Scuba diving trips Water skiing trips Transportation to and from airport Airfare (round trip from Miami) Cost Data Cancun 6 Jamaica 4 $ 55/night $ 10/ea 7 6963. 454221 4 1 1 1 $ 15/ea $ 25/ea $ 75/ea $ 50/ea $ 375 (Cancun), $ 550 (Jamaica) $ 25 (Cancun), $ 40 (Jamaica) The Cancun trip sells for $1,750, and the Jamaica trip sells for $1,500, and both packages allow two bags to be checked for free. Required: 1. What are the current profit margins on both trips? 2. Take-a-Break's management believes that it must drop the price of each trip by $100 in order to remain competitive in the market. Recalculate profit margins for both packages at these price levels. Complete this question by…
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Volume and pricing Dim Witt is the county commissioner of Clueless County. He decided to institute tolls for local ferry boat passengers. After the tolls had been in effect for four months, Astra Astute, county accountant, noticed that collecting $1,450 in tolls incurred a daily cost of $2,000. The toll is $0.50 per passenger. a. How many people are using the ferry boats each day? 2,900 b. (1) If the $2,000 cost is entirely fixed, how much must each passenger be charged for the toll process to break even? Note: Round your answer to two decimal places (for example, round $4.655 to $4.66). $0.69 (2) How much must each passenger be charged for the toll process to make a profit of $250 per day? Note: Round your answer to two decimal places (for example, round $4.655 to $4.66). $ 0.78 c. Assume that only 80 percent of the $2,000 is fixed and the remainder varies by passenger. If the toll is raised to $0.60 per person, passenger volume is expected to fall by 10 percent. If the toll is raised…
Financial Aid Student Accounts Resources - Campus Store Saies projeGlions. Weekly (Feb 21-27) Projected Actual Difference Food Cost $6,971 $7,842 +$871 (over) Beverage Cost $3,954 $4,156 +$202 (over) Labor Cost $8,423 $9,541 +$1,118 (over) Other Costs $7,645 $7,645 $0 (even) Total Costs $26,993 $29,184 +$2191 (over) Food Sales $18,565 $14,326 -$4,239 (under) Beverage Sales $12,872 $10,852 -$2,020 (under) Total Sales (Revenue) $31,437 $25,178 $6,259 (under) $4.444 -$4,006 $8,450 (under) Total Profit What were the results of the restaurant's actual revenue, relative to its actual costs? Select one: a. Break-even b. Profit c. Loss en 5 i answered Weekly (Feb 21-27) Projected Actual Difference
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Take-a-Break Travel Company offers spring break travel packages to college students. Two of its packages, a 7-day, 6-night trip to Cancun and a 5-day, 4-night trip to Jamaica, have the following characteristics: Package Specifications Oceanfront room; number of nights Cancun Jamaica 6 4 Cost Data Meals: Breakfasts Lunches Dinners Scuba diving trips Water skiing trips Airfare (round trip from Miami) Transportation to and from airport 454221 7 69634L 1 1 1 $73/night $10/ea $15/ea $25/ea $93/ea $68/ea $400 (Cancun), $500 (Jamaica) $60 (Cancun), $66 (Jamaica) The Cancun trip sells for $2,100, and the Jamaica trip sells for $1,860, and both packages allow two bags to be checked for free. Required: 1. What are the current profit margins on both trips? 2. Take-a-Break's management believes that it must drop the price of each trip by $118 in order to remain competitive in the market. Recalculate profit margins for both packages at these price levels.
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eBook Question Content Area Analyze Atlantis Cruise Lines Atlantis Cruise Lines offers luxury, one-week cruise packages in the Greek Aegean Sea. The ship has a capacity for 1,200 people. Atlantis averages 1,000 passengers per cruise. The price per passenger is $6,000. Costs associated with a cruise are as follows: Line Item Description Amount Variable costs per cruise: Crew to serve passengers $1,200,000 Food 1,500,000 Amenity and excursion 400,000 Total variable cost per cruise $3,100,000 Fixed costs per cruise: Crew to run ship $1,500,000 Depreciation expense 120,000 Fuel 50,000 Total fixed cost per cruise $1,670,000 Atlantis proposes an early booking program to help increase the number of passengers per cruise. Under the proposed early booking program, the first 300 passengers to book a cruise will receive a $1,500 discount off the normal price for the cruise. Atlantis expects this program to increase the…
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