CPAN112_ProgramAssignment_CostVolumeProfitAnalysis_BreakEven

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Humber College *

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Feb 20, 2024

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Uploaded by EarlPantherMaster1046

Fundamentals of Numeric Computing CPAN 112 Cost-Volume-Profit Analysis and Break-Even Program and Assignment Please read the following instruction very carefully before answering any questions:  Please read all the questions very carefully.  Please provide your answers in the boxes below each question, and do not change the text colour.  Your answer MUST show the solution procedure. There is no credit if you only state the final answer.  Please highlight your final answer to each question.  Please keep the naming conventions requested in this lab and each question.  Once you complete your lab, rename your word document file to the ( CPAN112_CostVolumeProfitAnalysis_BreakEven_FirstName _LastName ). Replace FirstName and LastName with your first name and last name, respectively. It will be a 10% mark deduction if you do not follow the guidelines mentioned above.

1) To earn some money, John is thinking of starting up a "Back-Yard BBQ" stand at his university campus this summer. The basic "BBQ" equipment will cost $2690, and the variable cost (VC) for each "BBQ Meal" is estimated to be $6.75. He thinks he will be able to sell each "BBQ Meal" for $10.00. [20 points] a. What is the break-even quantity of "BBQ Meals" for John's "Back-Yard BBQ" stand? [10 points] b. If John's goal for profit is $2500 for his fall semester tuition, how many "BBQ Meals" would he need to sell in the summer to reach his goal? [10 points] 2) Peter is thinking of starting up a "Personal Financial Services" consultation in his spare time. The basic office equipment will cost $2285, and the variable cost (VC) for each consultation is estimated to be $14.60. He plans to bill each client $65 per consultation.? [30 points] a. What is the break-even quantity of consultations for Peter's "Personal Financial Services" operation? [10 points] b. If Peter's profit goal is $1000, how many consultations would he need to reach his goal? [10 points] c. Briefly explain the concept of a "Contribution Margin" and demonstrate how the Contribution Margin (CM) determined from the information above can be used to determine the same break-even quantity determined in part (a)? [10 points]

3) Ace Machinery showed the following operating budget for the next year. Sales $2,300,000 Fixed Cost $1,200,000 Total Variable Cost 750,000 Total cost 1,950,000 Net income $300,000 Answer the following questions [50 points]: a. Calculate the contribution margin and contribution rate. [10 points] b. How much does Ace Machinery need to sell to break even? [10 points] c. If the company has to spend $250,000 on marketing, how much does Ace Machinery need to sell to break even? [10 points] d. If sales increase by 15%, what would the resulting net income be? (Fixed Cost is 1,200,000) [10 points] e. Complete the Python file accompanying this assignment to calculate and display this question's (a) to (d) parts. [10 points] Copy and paste your Python code here: Copy and paste a screenshot of your Python code output here: Deliverables : The word document file ( CPAN112_CostVolumeProfitAnalysis_BreakEven_FirstName_LastName ) contains your solution.

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