1. Describe the scenario in a couple of sentences (e.g. "a vegan hotdog stand outside the library") 2. Establish your unit of sale and price point for that unit (e.g. one hot dog costs $4) 3. Make a list of your expected variable costs and calculate your total variable costs per unit. (Does not have to be exact, but should be believable.) 4. Calculate your gross profit per unit. 5. Make a list of your expected monthly overhead costs and calculate your total. (Does not have to be exact, but should be believable.) 6. Calculate your breakeven point. 7. Write a sentence explaining in your own words what that breakeven point means in your scenario.