Brian and Nancy Soon live in Savannah, Georgia. Two years ago, they visited Thailand. Nancy, a professional chef, was impressed with the cooking methods and the spices used in Thai food. Savannah does not have a Thai restaurant, and the Soons are contemplating opening one. Nancy would supervise the cooking, and Brian would be the matre d'. The restaurant will serve food from Tuesday through Saturday. Brian noticed a restaurant for lease. The restaurant has seven tables, each of which can seat four guests. Tables can be moved together for a large party. Nancy is planning two seatings per evening and the restaurant will be open fifty weeks per year. The Soous have drawn up the estimates below: Average Revenues, including beverages and dessert Average Cost of the Food Chef's and dishwasher's salaries Rent(premises, equipment) Cleaning (linen and premises) Replacement of dishes, cutlery, glasses Utilities, Advertising, Telephone $40 $12 $50,400 $4,000 $800 $300 $1,900 per meal per meal per year per month per month per month per month Required: 1. Compute annual breakeven point in meals (units) and (sales) dollars 2. Compute the number of meals and amount of sales revenue that will be required to earn a net income of $75,600. How many meals must the Soous serve to earn the $75,600 Should Brian and Nancy open the restaurant? 3. 4. Brian and Nancy Soon live in Savannah, Georgia. Two years ago, they visited Thailand. Nancy, a professional chef, was impressed with the cooking methods and the spices used in Thai food. Savannah does not have a Thai restaurant, and the Soons are contemplating opening one. Nancy would supervise the cooking, and Brian would be the matre d'. The restaurant will serve food from Tuesday through Saturday. Brian noticed a restaurant for lease. The restaurant has seven tables, each of which can seat four guests. Tables can be moved together for a large party. Nancy is planning two seatings per evening and the restaurant will be open fifty weeks per year. The Soous have drawn up the estimates below: Average Revenues, including beverages and dessert Average Cost of the Food Chef's and dishwasher's salaries Rent(premises, equipment) Cleaning (linen and premises) Replacement of dishes, cutlery, glasses Utilities, Advertising, Telephone $40 $12 $50,400 $4,000 $800 $300 $1,900 per meal per meal per year per month per month per month per month Required: 1. Compute annual breakeven point in meals (units) and (sales) dollars 2. Compute the number of meals and amount of sales revenue that will be required to earn a net income of $75,600. How many meals must the Soous serve to earn the $75,600 Should Brian and Nancy open the restaurant? 3. 4