Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Organic Buffet offers an all-you-can-eat buffet meal for $ 34 per person. The restaurant employs ten salaried employees. Rent for the building, employee salaries,

The Organic Buffet offers an all-you-can-eat buffet meal for $ 34 per person. The restaurant employs ten salaried employees. Rent for the building, employee salaries, and other fixed costs for the restaurant are $ 118 comma 800 per month when the restaurant serves meals up to 13 comma 900 guests in that month. If the restaurant were to serve more than 13 comma 900 guests in any given month, it would need to hire two additional servers and two additional kitchen staff for an additional fixed cost of $ 27 comma 000 per month. The variable cost of food is $ 20 per guest. Read the requirementsLOADING.... Requirement 1. What is the restaurant's cost equation for estimating costs if the number of guests to be served is up to 13 comma 900 guests per month? y = $ x + $

1.

What is the restaurant's cost equation for estimating costs if the number of guests to be served is up to

13 comma 90013,900

guests per month?

2.

If the restaurant were to serve

13 comma 20013,200

guests in

MayMay,

what would be the:

a.

Estimated total cost? (Use the cost equation from Requirement 1.)

b.

Average cost per guest?

3.

If the restaurant were to serve

11 comma 40011,400

guests in

JuneJune,

what would be the:

a.

Estimated total cost using the cost equation from Requirement 1?

b.

Estimated total cost using the average per guest cost from Requirement 2b?

c.

Why is there a difference in the two cost estimates?

4.

What is the restaurant's cost equation for estimating costs if the number of guests to be served is more than

13 comma 90013,900

guests per month?

5.

If the restaurant were to serve

15 comma 40015,400

guests in

JulyJuly,

what would be the estimated total cost? (Use the cost equation from Requirement 4.)

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

Financial Accounting A Critical Approach

Authors: John Friedlan

1st Edition

0130193720, 978-0130193728

More Books

Students also viewed these Accounting questions

Question

2. Why do we need legislation to protect women in the workplace?

Answered: 1 week ago