Callahans Calabash Seafood Restaurant is a family-owned business started by Marc Callahan over 10 years ago. Callahans

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Callahan’s Calabash Seafood Restaurant is a family-owned business started by Marc Callahan over 10 years ago. Callahan’s is only open Thursday through Saturday and only serves dinner. In the last several months, Marc has seen a drop-off in business. Just last month the restau1rant broke even. Marc looked over the records and saw that the restaurant served 1,000 meals (variable cost is $10 per meal) and paid other bills totaling $25,000. He looked over the bills and realized that they all represented fixed costs. The restaurant currently breaks even at 1,000 meals.

Required
Calculate Callahan’s average selling price for a meal.

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Related Book For  book-img-for-question

Managerial Accounting A Focus on Ethical Decision Making

ISBN: 978-0324663853

5th edition

Authors: Steve Jackson, Roby Sawyers, Greg Jenkins

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