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 makethe burritos and staff the stand on a volunteer basis. The university requires each vendor to pay a one-time $25.00 permitfee. You also need to purchase a canopy for $150, a small grill for $400 and other supplies for $100. Your club plans todonate 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 IncomeStatement P & L. WHAT IS YOUR NET PROFIT MARGIN as a percentage?5. Calculate your Break- Even point based on your expenses required for the event? Be sure to write theformula and show your calculations

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Description: 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 makethe burritos and

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Tortillas costs $4.00 per 20 count bag; meat cost $3.00 per lb, rice cost $14 for a 25 1t ra 64 oz can; cheese cost $15.00 per 5-lb. package; salsa costs $2.80 for a 40 oz. jar tos and staff the stand on a volunteer basis. The university requires each vendor to pay also need to purchase a canopy for $150, a small grill for $400 and other supplies for e profits from the burrito sales to a local children's hospital. How many burritos can you anticipate selling assuming that 10% of the attende What quantity of each raw material do you need to buy?

Tortillas costs $4.00 per 20 count bag; meat cost $3.00 per lb, rice cost $14 for a 25 1t ra 64 oz can; cheese cost $15.00 per 5-lb. package; salsa costs $2.80 for a 40 oz. jar tos and staff the stand on a volunteer basis. The university requires each vendor to pay also need to purchase a canopy for $150, a small grill for $400 and other supplies for e profits from the burrito sales to a local children's hospital. How many burritos can you anticipate selling assuming that 10% of the attende What quantity of each raw material do you need to buy?

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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