Cost Approaches to Pricing 433 day, while dinner seat turnover averages .8 times per day. What are the average prices for lunch and dinner? Problem 17 The Midday Cafe is located in the Midtown Mall, which is open from 10 A.M. to 5 P.M. each day. The Midday Cafe sells ten different sandwiches as well as a variety of soft drinks. In a recent week, the following activity occurred: Sandwich Selling Price Cost Pork Barrel $3.95 Number Sold $1.30 Lamb Leg 3.75 50 1.00 Chicken Breast 3.95 40 1.40 Burger Delight 3.45 150 185 Super Burger 300 4.95 1.25 Roast Beef 190 4.95 1.50 Ocean Catch 250 4.45 1.20 Tuna Salad 200 3.50 .60 175 Egg Salad 3.25 .35 150 Cheese Mix 2.95 .40 60 Required: 1. Determine the total sales revenue for sandwiches for the week. 2. Determine the total cost of sandwich sales for the week. 3. Determine the food cost percentage for the week. 4. Determine the average contribution margin for all sandwiches sold. 5. Using menu engineering, determine the classification of each sandwich. Problem 18 The Lynn Inn, a 100-room lodging facility, is proposed for construction in the north-centra part of the United States. The total cost of construction is $5,000,000. Another $200,000 is required for franchise costs and working capital purposes. Franchise costs of $100,000 are to be amortized over the first five years of operations. To simplify the problem, depreciation calculated on a straight-line basis over 24 years (assume $200,000 of salvage value). The owners will borrow $3,000,000 at an annual interest rate of 12 percent. The owner desire an 18 percent return on their equity investment. Other unallocable costs, except fo room sales. management fees, total $1,500,000 annually. Management fees are based on 3 percent $300,000 Assume that gift shop department and food service department profits total $0 an ment costs are variable and tot3:28 LTE Assignment Details HFT 3407 - CRN 50855 - RHM Managerial Accounting Chapter 8 Interactive Assignment 10 pts Not Submitted Due Jul 21, 2021 at 11:59 PM Submission Types File Upload Submission & Rubric Description Use EXCEL to complete Chapter 8, Problem 17 AND upload your work with Graphical Representations. Submit Assignment Previous Next OF 13 219 000 0= Dashboard Calendar To Do Notifications Inbox