Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question content area top Part 1 Projected financial results for the university's cafeteria for next year are shown. Answer each of the following independent questions.

Question content area top
Part 1
Projected financial results for the university's cafeteria for next year are shown. Answer each of the following independent questions.
Sales
$913 comma 000
Fixed cost
$563 comma 000
Total variable cost
221 comma 790
Total cost
784 comma 790
Net income
Modifying $ 128 comma 210 with double underline
(a) How much is the contribution margin and the contribution rate?
(b) How much does the business need to sell to break even?
(c) If the business was to spend $22 comma 000 to upgrade their processes, how much does the business need to sell to break even?
(d) If 6% more meals were sold, what would be the resulting net income?
Question content area bottom
Part 1
(a) The contribution margin is $
691210.(Type an integer or a decimal.)
Part 2
The contribution rate is
enter your response here%.(Round to six decimal places as needed

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

Step: 3

blur-text-image

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

Accounting And Finance For Your Small Business

Authors: Eric James Burton, Steven M Bragg

1st Edition

9780471323600

More Books

Students also viewed these Accounting questions

Question

How do you add two harmonic motions having different frequencies?

Answered: 1 week ago