The Wholesome Buffet offers an all-you-can-eat buffet meal for $25 per person. The restaurant employs ten...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The Wholesome Buffet offers an all-you-can-eat buffet meal for $25 per person. The restaurant employs ten salaried employees. Rent for the building, employee salaries, and other fixed costs for the restaurant are $146,300 per month when the restaurant serves meals up to 14,300 guests in that month. If the restaurant were to serve more than 14,300 guests in any given month, it would need to hire two additional servers and two additional kitchen staff for an additional fixed cost of $21,000 per month. The variable cost of food is $11 per guest. Read the requirements. Requirement 1. What is the restaurant's cost equation for estimating costs if the number of guests to be served is up to 14,300 guests per month? y = x + Requirements 1. What is the restaurant's cost equation for estimating costs if the number of guests to be served is up to 14,300 guests per month? 2. If the restaurant were to serve 13,300 guests in May, what would be the: a. Estimated total cost? (Use the cost equation from Requirement 1.) b. Average cost per guest? 3. If the restaurant were to serve 12,200 guests in June, what would be the: a. b. Estimated total cost using the cost equation from Requirement 1? Estimated total cost using the average per guest cost from Requirement 2b? c. Why is there a difference in the two cost estimates? 4. What is the restaurant's cost equation for estimating costs if the number of guests to be served is more than 14,300 guests per month? 5. If the restaurant were to serve 15,300 guests in July, what would be the estimated total cost? (Use the cost equation from Requirement 4.) The Wholesome Buffet offers an all-you-can-eat buffet meal for $25 per person. The restaurant employs ten salaried employees. Rent for the building, employee salaries, and other fixed costs for the restaurant are $146,300 per month when the restaurant serves meals up to 14,300 guests in that month. If the restaurant were to serve more than 14,300 guests in any given month, it would need to hire two additional servers and two additional kitchen staff for an additional fixed cost of $21,000 per month. The variable cost of food is $11 per guest. Read the requirements. Requirement 1. What is the restaurant's cost equation for estimating costs if the number of guests to be served is up to 14,300 guests per month? y = x + Requirements 1. What is the restaurant's cost equation for estimating costs if the number of guests to be served is up to 14,300 guests per month? 2. If the restaurant were to serve 13,300 guests in May, what would be the: a. Estimated total cost? (Use the cost equation from Requirement 1.) b. Average cost per guest? 3. If the restaurant were to serve 12,200 guests in June, what would be the: a. b. Estimated total cost using the cost equation from Requirement 1? Estimated total cost using the average per guest cost from Requirement 2b? c. Why is there a difference in the two cost estimates? 4. What is the restaurant's cost equation for estimating costs if the number of guests to be served is more than 14,300 guests per month? 5. If the restaurant were to serve 15,300 guests in July, what would be the estimated total cost? (Use the cost equation from Requirement 4.)
Expert Answer:
Answer rating: 100% (QA)
Requirement 1 The cost equation for estimating costs when serving up to 14300 guests per month is as ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
4. Caribbean Pride Limited, a juice manufacturing company, was recently exposed for spilling the waste from its manufacturing plant into the river. Since then, the company has been fined $300,000 by...
-
The Carrollton Buffet offers an all-you-can-eat buffet meal for $30 per person. The restaurant employs ten salaried employees. Rent for the building, employee salaries, and other fixed costs for the...
-
Construct a cumulative relative frequency histogram. Use the following information to answer question. Suppose a class of high school seniors had the following distribution of SAT scores in English....
-
Ammonia at 70oC is used in a special application at a quality of 50%. Assume the only table available is B.2 that goes down to 50oC. To size a tank to hold 0.5 kg with x = 0.5, give your best...
-
As a small group, discuss the similarities and differences between MDS and conjoint analysis.
-
The simplest form of mass matrix is known as a. lumped-mass matrix b. consistent-mass matrix c. global mass matrix
-
"I'll never understand this accounting stuff," Blake Dunn yelled, waving the income statement he had just received from his accountant in the morning mail. "Last month, we sold 1,000 stuffed State...
-
If an investor purchases a call option of Marriott International Class A Common Stock (MAR) with a strike price of $110 by paying $100. The stock is traded at $128 (this real time price is also known...
-
Which are constitution isomers? D) cal structures stereoisomers constitutional isomers different compounds with different compositions 2. Which of the following are constitutional isomers? CH I HC A)...
-
For an eye in which the pupil has a radius of \(3.0 \mathrm{~mm}\), what is the smallest angular separation that can be resolved (a) when two violet \((\lambda=400 \mathrm{~nm})\) objects are placed...
-
A negative charge is located inside the swim ring. Is there any location on the surface of the swim ring where the electric field line flux is positive?
-
The red brake lights of a car are \(2.00 \mathrm{~m}\) apart. Standing \(300 \mathrm{~m}\) away from the rear of the car, you use a \(f=50 \mathrm{~mm}\) lens with an aperture of diameter \(d=4.00...
-
A charge of \(+2 q\) is enclosed inside a hollow copper sphere having a wall thickness of \(5 \mathrm{~mm}\). Compute the electric flux through the copper sphere.
-
A satellite studying Earth's surface uses a telescope mirror \(2.75 \mathrm{~m}\) in diameter to focus light of wavelength \(525 \mathrm{~nm}\). If the satellite orbits at an altitude of \(25,000...
-
In the somatic cells of a certain animal species, 30 pairs of homologous chromosomes are present. How many chromosomes will be found in a mature egg cell? A.) 15 B.) 30 C.) 45 D.) 60
-
Which of the companies has the lowest accounts receivable turnover in the year 20X2? a. Company A. b. Company B. c. Company C. d. CompanyD. 20X1 20X2 Credit Sales Average Receivables Balance $1.0...
-
Verify that the log-likelihood of model (7.7) is \(\sum_{i=1}^{k}\left[n_{i} \lambda-\exp (\lambda) ight]\). (a) Compute MLE of \(\lambda\). (b) Compute the Pearson chi-square statistic and compare...
-
Think about the general concept of a relationship, not necessarily in a business setting, but just relationships in general between any two parties. What aspects of relationships are inherently...
-
What is value? In what ways does a relationship selling approach add value to your customers, to you the salesperson, and to your sales organization?
Study smarter with the SolutionInn App