5. At Pizza Heaven in Rankin, a large pizza cost $12.00 plus $1.25 per topping. A coke cost $2.25. The Tubbs family ordered a large pizza with 3 toppings and 4 cokes. The Wyatt family ordered a large Pizza with 4 toppings and 5 cokes. Mr. Wyatt also ordered a salad. If the total cost for both families was $62.37 after an 8.00% tax was added, what was the cost of the salad? (A) $3.75 (C) $4.25 (D) $4.50 (B) $4.00 (E) $4.75
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- Your cousin purchased a refrigerator at Costco for $794.90. The delivery charge was $24.99, and the ice maker hookup amounted to $50. The state sales tax is 6.375 %, and the city tax is 1.25%. (a) What is the total amount of sales tax on the refrigerator? (b) What is the total purchase price?Stork Enterprises delivers care packages for special occasions. They charge $45 for a small package, and $80 for a large package. The sales tax rate is 6%. During the month of May, Stork delivers 38 small packages and 22 large packages. A. What is the total tax charged to the customer per small package? What is the overall charge per small package? B. What is the total tax charged to the customer per large package? What is the overall charge per large package? C. How much sales tax liability does Stork Enterprises have for the month of May? D. What accounts are used to recognize this tax situation for the month of May? E. When Stork remits payment to the sales tax governing body, what happens to the sales tax liability?Customer three found a hair in their taco. To make up for it, you gave 40% off their order, but they still had to pay a 4.5% sales tax. What is the new cost of the order?
- Five Senior Citizens, 10 non-senior / non-PWD and 5 PWDs who are also Senior Citizens ordered P20,000 worth of group meal in a restaurant. Assuming the P20,000 amount is net of VAT, how much is the Output VAT?X, operates a restaurant in San Mateo. The restaurant provides delicious foods and drinks to various customers at a very low price. In 2018, X has a total sales of 3,500,000 (500,000 are still on credit) ; while the cost of sales and expenses is 1,000,000. Can X avail the 8% optional tax rate? a. Yes b. No, because his sales exceeded 3M c. No, because his sales, excluding on credit is 3M d. No, because he sells VAT exempt goods e. None of the aboveA local pizza shop owner decides to hire an economic consultant to help him set his prices. Currently, one slice of pizza costs $2 and the store sells about 800 slices per week. The pizza shop's current revenue from sales is equal to $____. The economic consultant estimates that the price elasticity of demand is equal to -0.25, and suggests that the shop owner should increase the price of a slice of pizza by $0.50; that is, the consultant recommends increasing the price of pizza by ____%. The consultant claims that doing so would (a. Increase b. Decrease or C.have no effect on)_____ the number of slices sold by ____% or ____ slices. As a result, the economist predicts that the new revenue would be ____ Thus as a result of the increase in the price there is ____ in revenue. This is due to the fact that the pizza shop owner was operating on the ____ portion of the demand curve. (fill in the blanks)
- According to the original tipping page www.tipping.org it is appropriate to tip waiters and waitresses 15% to 20% of the pre-tax restaurant bill. The Leesburg's dinner cost $41.75 before tax and the tax rate is 3%. A) what is the tax on the Leesburg's dinner? B) if the Leesburg decide to tip 18% of the Pretax bill how much is the tip? C) what is the total cost of a dinner including the tax and tip?Ryan, an agent, was able to sell Mikoy Frozen Products worth 50,000.00. Given her commission of 10%. How much will he receive if his earnings are based on commission alone? a. 7,200.00 b. 7,300.00 c. 7,400.00 d. 7,500.00Kroger, the country’s leading grocery-only chain, added a line of private-label organic and natural foods call Simple Truth to its stores. If you’ve priced organic foods, you know they are more expensive. For example, a dozen conventionally farmed grade-A eggs at Kroger costs consumers $1.70, whereas Simple Truth eggs are priced at $3.50 per dozen. One study found that, overall, the average price of organic foods is 85 percent more than conventional foods. However, if prices get too high, consumers will not purchase the organic options. One element of sustainability is organic farming, which costs much more than conventional farming, and those higher costs are passed on to consumers. Suppose that a conventional egg farmer’s average fixed costs per year for conventionally farmed eggs are $1 million per year, but an organic egg farmer’s fixed costs are three times that amount. The organic farmer’s variable costs of $1.80 per dozen are twice as much as conventional farmer’s variable…
- Kroger, the country’s leading grocery-only chain, added a line of private-label organic and natural foods call Simple Truth to its stores. If you’ve priced organic foods, you know they are more expensive. For example, a dozen conventionally farmed Grade A eggs at Kroger costs consumers $1.70, whereas Simple Truth eggs are priced at $3.50 per dozen. One study found that, overall, the average price of organic foods is 85 percent more than that of conventional foods. However, if prices get too high, consumers will not purchase the organic options. One element of sustainability is organic farming, which costs much more than conventional farming, and those higher costs are passed on to consumers. Suppose that a conventional egg farmer’s average fixed costs per year for conventionally farmed eggs are $1 million, but an organic egg farmer’s fixed costs are three times that amount. Further assume that the organic farmer’s variable costs of $1.80 per dozen are twice as much as a conventional…Three years ago, Marissa Moore started a business that creates and delivers holiday and birthday gift baskets to students at the local university. Marissa sells the baskets for $25 each, and her variable costs are $15 per basket. She incurs $12,000 in fixed costs each year. How many baskets will Marissa have to sell this year if she wants to earn $30,000 in operating income? (Round answer to 0 decimal places, e.g. 5,275.)Dominic Carbonne owns Hungry Henry’s pizza, a four-unit chain of take-out pizza shops in a city of 60,000 people (with an additional 25,000 college students attending the local state university). Recently, a new chain of pizza restaurants has opened in town. The products sold by this new chain have lesser quality and use lesser quantity of ingredients (cheese, meat, fruit, and vegetable toppings) and are also priced 25 percent less than Hungry Henry’s equivalent size pizza. Dominic has seen his business decline somewhat since the new chain opened. This is especially true with the college students: How would you evaluate the new competitor’s pricing strategy? What steps would you advise Dominic to take to counter this competitor? Describe three specific strategies restaurants can use to communicate “quality, rather than low price,” to his potential customers.