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A proposed breakfast-only restaurant, Benedict, is scheduled to open in two months. The owner, John, seeks your advice on pricing. Although he knows she will
A proposed breakfast-only restaurant, Benedict, is scheduled to open in two months. The owner, John, seeks your advice on pricing. Although he knows she will have to modify your recommendations based on market prices, he desires a cost perspective. John provides you the following information: John's investment John's desired ROI = $500,000 = 15 percent Fixed Operating Costs interest and depreciation Controllable Variable expenses Cost of food sales = $100,000 = $60,000 = 35 percent of food sales = 30 percent of food sales The restaurant will have 150 seats, and will have an expected seat turnover of 3.0 The restaurant will be open 310 days per year. Required: Calculate the required Average Check to Meet John's requirments. Enter your response in this area, show your work
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