FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume you and a friend, your business partner, own one of those food trucks that sell adult ice cream. While you have several flavors, they

Assume you and a friend, your business partner, own one of those food trucks that sell "adult" ice cream. While you have several flavors, they each sell for $9 each. Your business partner was a history major. How do you explain CVP to your friend? To add to your scenario, the food truck rents for $500 a week, and you have to pay $3 for each "adult" ice cream?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To explain costvolumeprofit CVP analysis to your historymajor friend you can break it down in simple ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

More Books

Students also viewed these Accounting questions

Question

The growth of the outsourcing sector over recent years has been significant. However, not all services are outsourced, and there are a number of high profile cases where external provision has been...

Answered: 1 week ago

Question

★★★★★
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Answered: 1 week ago

Question

★★★★★
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Answered: 1 week ago

Question

★★★★★
Many states are now imposing severance taxes on resources being extracted within their borders. In order to understand the effect of these on the allocation of the mineral over time, assume a stable...

Answered: 1 week ago

Question

★★★★★
A 2.50-L flask was used to collect a 5.65-g sample of propane gas, C3H8. After the sample was collected, the gas pressure was found to be 741 mmHg. What was the temperature of the propane in the...

Answered: 1 week ago

Question

★★★★★
6. How might your afTective commitment to an organization aflect your bchavior"!

Answered: 1 week ago

Question

★★★★★
2. Encourage students to improve projects when they have learned more.

Answered: 1 week ago

Question

★★★★★
Woodn Wares, Inc., purchased all the outstanding stock of Pail, Inc., for $950,000. Woodn Wares also paid $10,000 in direct acquisition costs. Just before the investment, the two companies had the...

Answered: 1 week ago

Question

★★★★★
The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next...

Answered: 1 week ago

Question

★★★★★
The following table shows monthly output (Q), number of workers (L), and variable costs (VC) for Golden Roast Coffeeshop in Knoxville, TN. Quantity of Output (Q) Labor (L) Variable Cost (VC) Fixed...

Answered: 1 week ago

Question

★★★★★
"A low-cost carrier or low-cost airline (also known as a no-frills, discount or budget carrier or airline) is an airline that offers generally low fares in exchange for eliminating many traditional...

Answered: 1 week ago

Question

★★★★★
List the attributes along which customer demand from different segments can vary that are important to supply chain management.

Answered: 1 week ago

Question

★★★★★
in quickbooks online: Sarah at the sarah's spa is looking for an employee who has been terminated but not deleted from the employee list, but she can't find the employee. What should she do to...

Answered: 1 week ago

Question

★★★★★
For each one of the costs below, explain whether the resource cost is explicit or implicit, and give the annual opportunity cost for each one. Assume the owner of the business can invest money and...

Answered: 1 week ago

Question

★★★★★
7. The following image shows incoming waves at times 0 and 2 seconds. Use this information to predict the resulting waves at times of 6 and 8 seconds. ____.__..._._._,,_.._.. wwF "a. -__. _...

Answered: 1 week ago

Question

★★★★★
Suppose that every time a fund manager trades stock, transaction costs such as commissions and bid-ask spreads amount to 0.3% of the value of the trade. If the portfolio turnover rate is 45%, by how...

Answered: 1 week ago

Question

★★★★★
A heat engine has a heat input of 3 Ã 104 Btu/h and a thermal efficiency of 40 percent. Calculate the power it will produce, in hp. Source 3 x 10 Btu/h 40% HE Sink

Answered: 1 week ago

Question

★★★★★
How will you distribute your product?

Answered: 1 week ago

Question

★★★★★
What sources of capital do you have? Are you willing to take on a home equity loan? Use your personal credit cards? How much of a nest egg do you need to feel comfortable pursuing a new venture?

Answered: 1 week ago

Question

★★★★★
How might you develop and test a minimum viable product (MVP) for your product or service concept?

Answered: 1 week ago

Question

★★★★★
16. Personnel records of a large hospital show that 10 percent of housekeeping and maintenance employees quit within one year after being hired. If 10 new employees have just been hired: a. What is...

Answered: 1 week ago

Question

★★★★★
21. The IQs of individuals admitted to a state school for the mentally retarded are approximately normally distributed with a mean of 60 and a standard deviation of 10. a. Find the proportion of...

Answered: 1 week ago

Question

★★★★★
19. On the average, five smokers pass a certain street corner every 10 minutes. What is the probability that during a given 10-minute period the number of smokers passing will be: a. Six or fewer? b....

Answered: 1 week ago

Previous Question Next Question