Cost Approaches to Pricing 433 day, while dinner seat turnover averages.8 times per day. What are the average prices 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 for lunch and ? Problem 17 recent week, the following activity occurred: Sandwich Pork Barrel Selling Price Cost Number Sold Lamb Leg $3.95 $1.30 50 Chicken Breast 3.75 1.00 40 3.95 Burger Delight 1.40 150 3.45 .85 300 Super Burger 4.95 1.25 190 Roast Beef 4.95 1.50 250 Ocean Catch 4.45 1.20 200 Tuna Salad 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-central 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 is straight-line basis over 24 years (assume $200,000 of salvage value). 000 000 at an annual interest rate of 12 percent. The owners tment. Other unallocable costs, except for hased on 3 percent of