SuperTutor

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Teaching Since: Apr 2017
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  • MBA, Ph.D in Management
    Harvard university
    Feb-1997 - Aug-2003

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  • Professor
    Strayer University
    Jan-2007 - Present

Category > Business & Finance Posted 23 Jun 2017 My Price 5.00

EXTRA CREDIT

EXTRA CREDIT
You have just inherited a great deal of money. You have a talent for cooking
and with this money you would like to open an expensive gourmet restaurant
in your college town, near campus.
The restaurant will have fixed costs such as management salaries, utilities,
interest, license fees, and property taxes. The only variable costs will be the
food, beverages, and preparation costs. The fixed costs are estimated to be
approximately $550,000 per year, and the average variable cost per meal is
estimated at $20. You hope to sell the meals at an average of $30 per plate.
(answers are in Course Documents, Answers to homework assignments)
a.
How many meals will you have to sell to break even?
550000
B/E= 30−20 = 55,000 b. How many meals will you have to sell each evening to break even,
assuming you are open 310 days a year?
55000
310 = 177.42 c. How many units will you have to sell if you want to make a profit of
$300,000 a year? d. How much profit will the restaurant earn on sales of 70,000 meals?
30-20=10
70,000-55,000=15,000
15,000*10= 150,000
The restaurant would make $150,000

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Answers

SuperTutor
(15)
Status NEW Posted 23 Jun 2017 12:06 AM My Price 5.00

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file 1498178822-Solutions file.docx preview (56 words )
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