Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need the second problem. the first part y got it. thanks Cost-Volume-Profit Analysis For #1 = The owner of The Rutles Restaurant is concerned

image text in transcribed
I need the second problem. the first part y got it.
thanks
Cost-Volume-Profit Analysis For #1 = The owner of The Rutles Restaurant is concerned about changing costs and the inability to increase meal prices. During 2020, the average selling price for a meal served was $12.75; the average variable costs were $7.25, and the average monthly fixed costs totaled $20,000. 1b. Calculate the Break-even Point for December 2020 in revenue dollars: 1c. Calculate the number of meals to sell in December 2020 to achieve a profit of $5000: 1d. In December 2020, how many meals on average, per night are needed to break-even For #2 = In 2021, the average monthly fixed costs are expected to increase by $2,000 above 2020. In addition, consider the following January 2021 data: Cost of Food and Bev = $11,000 Cost of Hourly Labor = $9,000 Covers = 2550 1a. Calculate the Break-even Point for December 2020 in # of meals sold: in 2021, the average monthly fixed costs are expected to increase by $2,000 above 2020. in addition, consider the following January 2021 data: Cost of Food and Bev = $11,000 Cost of Hourly Labor = $9,000 | Covers = 2550 What is the Variable Cost per meal in January 2021 2b. Given the expected cost increases for 2021, calculate the Break-even Point for January 2019 in number of meals sold: 2c. Given the expected cost increases for 2021, calculate the Break-even Point for January 2019 in revenue dollars: 2d. Calculate the number of meals to sell in January of 2021 to achieve an income of $5000: Required: 3. You have to consider whether your restaurant should stay open for an extra hour under the following conditions: The average check in your restaurant is $19, your f&b cost percentage is 30%, your fixed cost for the hour is $120. How many covers would you need to serve to break even

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Fundamentals Of Multinational Finance

Authors: Michael H. Moffett, Arthur I. Stonehill, David K. Eiteman

1st Edition

0201844842, 978-0201844849

More Books

Students also viewed these Finance questions

Question

Determine if gender differences in PTSD exist.

Answered: 1 week ago

Question

8. Explain the contact hypothesis.

Answered: 1 week ago

Question

7. Identify four antecedents that influence intercultural contact.

Answered: 1 week ago