Expenses for a Pizza restaurant include raw material for pizza at $4.00 per slice, $122.00 as monthly rental and $29.00 monthly as insurance. Lost sale expense is considered to be $6.00 per unhappy customer. Leftover Pizza can be sold for $3. The restaurant is open 25 days in a #10 month. Today the restaurant prepared 200.00 pizza slices and sells them for $10.00/slice. There was a party at a nearby office so the demand for pizza went up to 214.00 slices. How much profit did the restaurant earn today?

Expenses for a Pizza restaurant include raw material for pizza at $4.00 per slice, $122.00 as monthly rental and $29.00 monthly as insurance. Lost sale expense is considered to be $6.00 per unhappy customer. Leftover Pizza can be sold for $3. The restaurant is open 25 days in a #10 month. Today the restaurant prepared 200.00 pizza slices and sells them for $10.00/slice. There was a party at a nearby office so the demand for pizza went up to 214.00 slices. How much profit did the restaurant earn today?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter10: Short-term Decision Making

Section: Chapter Questions

Problem 9EA: Underground Food Store has 4,000 pounds of raw beef nearing its expiration date. Each pound has a...

See similar textbooks

Similar questions

Able Transport operates a tour bus that they lease with terms that involve a fixed fee each month plus a charge for each mile driven. Able Transport drove the bus 7,000 miles and paid a total of $1,360 in June. In October. Able Transport paid $1,280 for the 5,000 miles driven. If Able Transport uses the high-low method to analyze costs, how much would Able Transport pay in December, if they drove 6,000 miles?
Underground Food Store has 4,000 pounds of raw beef nearing its expiration date. Each pound has a cost of $450. The beef could be sold as is for $3.00 per pound to the dog food processing plant, or roasted and sold in the deli. The cost of roasting the beef will be $2.80 per pound, and each pound could be sold for $6.50. What should be done with the beef, and why?
Canary Lawnmowers sold 70 lawnmower parts at $5.00 per part to a customer on December 4 with a cost to Canary of $3.00 per part. Terms of the sale are 5/10, n/25, invoice dated December 4. The customer pays their account in full on December 16. On December 21, the customer discovers 22 of the parts are the wrong size but decides to keep them after Canary gives them an allowance of $1.00 per part. Record the journal entries to recognize these transactions for Canary Lawnmowers.
A Restaurant is open only for 25 days in a month. Expenses for the restaurant include raw material for each sandwich at $4.00 per slice, $1,130.00 as monthly rental and $223.00 monthly as insurance. They consider the cost of lost sales as $5.00 per item. They are able to sell any leftover sandwiches for $3. They prepares 200.00 sandwiches and sells them at a rate of $12.00/sandwich.Today there was a party at nearby office so the demand for sandwiches rose to 224.00. How much profit did the restaurant earn today?
#15 Expenses for a Pizza restaurant include raw material for pizza at $5.00 per slice, $124.00 as monthly rental and $25.00 monthly as insurance. Lost sale expense is considered to be $6.00 per unhappy customer. Leftover Pizza can be sold for $3. The restaurant is open 25 days in a month. Today the restaurant prepared 200.00 pizza slices and sells them for $14.00/slice. There was a party at a nearby office so the demand for pizza went up to 229.00 slices. How much profit did the restaurant earn today? Submit Answer format: Currency: Round to: 0 decimal places.
A vendor prepares 100 hotdogs every day and sells at $20/piece. For each hot dog, he spends $12 in the raw material. Additionally, he spends $1 for packing each hotdog and monthly $50, $20, $10 as food truck rent, electricity and other expenses respectively. On a particular day in June it rained heavily so vendor was able to sell only 80 hot dogs. For finishing the stock, he sold remaining hotdogs for $5/piece. Determine vendor’s profit for that day? Assume there are 30 days in the month. Question 8 options: 1) $97.3 2) $397.4 3) $197.4 4) $200
ABC operates a consignment shop where she sells clothes for women and children. The average number of consignments sold per month is 1,000. The average material cost and the selling price of each consignment are $8 and $20, respectively. The monthly fixed costs to run this business are given below: Rental cost: $750Utilities: $150Advertising: $35Insurance: $100Labor cost: $4,000 Using Excel spreadsheet / worksheet, determine Anna's profit. Attach excel solution.
Tony’s is a Pizzeria located near a local university. The restaurant not only sells two types of pizza: Thin Crust and Deep Dish, but also sells Pasta. Information relating to the three products for the next month follows: Thin Crust Deep Dish Pasta Expected sales (units) 1,000 400 200 Sales price $15 $20 $12 Variable cost $6 $8 $5 The company has monthly fixed costs of $10,000 and a tax rate of 20%. Required: a. Compute the company’s expected profit (net income) for the upcoming fiscal period. b. Compute the company’s sales mix. (Note Solve the normal way c. Assuming a consistent sales mix, how many units of each product type must the company sell to break even? d.Assuming a consistent sales mix, if the company wishes to earn monthly net income of $25,000, how many units of each product type must be sold? e. Compute the margin of safety in both dollar and percentage terms.
A vegetable stand owner purchases onions at the rate of P350 per kg daily and sells it at the rate of P375 per kg. The unsold product at the end of the day can be disposed off the next day at the salvage value of P275 per kg. Past sales have ranged from 30 to 38 kg per day. What is store owner profit per kg of onion sold?
A restaurant selling hamburgers has fixed costs of $11,975 and sells the burgers for $4.50 each. The restaurant breaks even when making and selling 2,860 burgers. What is the restaurant's break-even point?
Classical Glasses operates a kiosk at the local mall, selling s unglasses for $30 each. Classical Glasses currently pays $1,000 a month to rent the space and pays two full-time employees to each work 160 hours a month at $10 per hour. The store shares a manager with a neighboring kiosk and pays 50% of the manager’s annual salary of $60,000 and benefits of $12,000. The wholesale cost of the sunglasses to the company is $10 a pair. Q.If the store’s hourly employees agreed to a 15% sales-commission-only pay structure, instead of their hourly pay, how many sunglasses would Classical Glasses need to sell to earn an operating income of $5,300?
Classical Glasses operates a kiosk at the local mall, selling s unglasses for $30 each. Classical Glasses currently pays $1,000 a month to rent the space and pays two full-time employees to each work 160 hours a month at $10 per hour. The store shares a manager with a neighboring kiosk and pays 50% of the manager’s annual salary of $60,000 and benefits of $12,000. The wholesale cost of the sunglasses to the company is $10 a pair. Q.If Classical Glasses wants to earn an operating income of $5,300 per month, how many sunglasses does the store need to sell?