I’ve already figured out how to do this problem, but If the club doubles it’s break even membership after a year, what will it’s profit be?
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- Annie Russell, a student at Tech, plans to open a hot dog stand inside Tech’s football stadium during home games. There are seven home games scheduled for the upcoming season. She must pay the Tech athletic department a vendor’s fee of $3,000 for the season. Her stand and other equipment will cost her $4,500 for the season. She estimates that each hot dog she sells will cost her $0.35. She has talked to friends at other universities who sell hot dogs at games. Based on their information and the athletic department’s forecast that each game will sell out, she anticipates that she will sell approximately 2,000 hot dogs during each game. What price should she charge for a hot dog in order to break even?Joe sends a check for $218 to the University by July 1 of every year to cover the cost of two tickets for each of the 7 home games plus $50 for a parking permit. Joe has difficulty finding friends to accompany him to the games. However, he is adamant that he must go to the games because he has paid for the tickets. Friends insist that the cost of the tickets is a sunk cost and that the decision should be based on future costs that would be different between alternatives – going to the game and not going to the game. Friends have calculated the fuel for the 6-hour round trip costs $15 and two meals while away from home for the game can easily cost $30 or more. Required Write a list to Joe outlining the relevant costs associated with a trip to the game.Kate is an executive for the Cozy Furniture Manufacturing Company. She purchased furniture from the company for $9,500, the price Cozy ordinarily would charge a wholesaler for the same items. The retail price of the furniture was $12,500, and Cozy’s cost was $9,000. The company also paid for Kate’s parking space in a garage near the office. The parking fee was $600 for the year. All employees are allowed to buy furniture at a discounted price comparable to that charged to Kate. However, the company does not pay other employees’ parking fees. Kate’s gross income from the above is: answer choices: $3,500. $4,100. $-0-. $900 $600.
- John Meyers recently graduated from university and has managed to find a job. He is from an eco- nomically weak community and has received help from a local charity supported by the city council. John has decided to donate one month’s salary to the charity. However, as the charity is well funded right now, he has decided to deposit his one month’s salary, £1,800, into an account paying 3.67 percent on the condition that the city cannot collect any money from that account for next 120 years. How much money will the city receive from John’s donation in 120 years’ time? USE EXCEL TO WORK THIS OUT AND SHOW THE FORMULA!Charles wants to renovate the bathroom and kitchen in his home, and he hires Veronica to do this work. They enter into a contract after agreeing to a cost of $40,000. However, once Veronica starts work, she realizes that it will cost $15,000 extra to complete the work that she promised. To show good faith to Charles, Veronica tells him that she will split the added cost with Charles and asks Charles for an additional $7,500. Charles refuses to pay the additional $7,500, and Veronica threatens to stop work on the renovation. After fearing that another contractor will probably charge much more, Charles calls Veronica and tells her he’ll pay the additional $7,500. After the renovations are completed, Charles refuses to pay the additional $7,500, despite agreeing to it. Veronica sues Charles. Who wins? Please explain.On December 15, Judy wrote a letter to David stating that she would sell to David all of the mine-run coal that David might wish to buy during the next calendar year for use at David’s factory, delivered at the factory at a price of $30.00 per ton. David immediately replied by letter to Judy, stating that he accepted the offer, that he would purchase all of his mine-run coal from Judy, and that he would need two hundred tons of coal during the first week in January. During the months of January, February, and March, Judy delivered to David a total of seven hundred tons of coal, for all of which David made payment to Judy at the rate of $30.00 per ton. On April 10, David ordered two hundred tons of mine-run coal from Judy, who replied to David on April 11 that she could not supply David with any more coal except at a price of $38.00 per ton delivered. David thereafter purchased elsewhere at the market price, namely $38.00 per ton, all of his factory’s requirements of mine-run coal for…
- Catherine buys and sells real estate. Two weeks ago, she paid $300,000 for a house on Pine Street, intending to spend $50,000 on repairs and then sell the house for $400,000. Last week, the city government announced a plan to build a new landfill on Pine Street just down the street from the house Catherine purchased. As a result of the city’s announced plan, Catherine is weighing two alternatives: She can go ahead with the $50,000 in repairs and then sell the house for $290,000, or she can forgo the repairs and sell the house as it is for $250,000. What should Catherine do?Molly Dymond and Kathleen Taylor are considering the possibility of teaching swimming to kids during the summer. A local swim club opens its poolat noon each day, so it is available to rent during the morning. The cost of renting the pool during the 10-week period for which Molly and Kathleenwould need it is $1,700. The pool would also charge Molly and Kathleen an admission, towel service, and life guarding fee of $7 per pupil, andMolly and Kathleen estimate an additional $5 cost per student to hire several assistants. Molly and Kathleen plan to charge $75 per student for the10-week swimming class. Molly and Kathleen estimate that they might not be able to enroll more than 60 pupils. If they enroll this many pupils, how much would they need to charge per pupil in order to realize their profit goal of $5,000?Molly Dymond and Kathleen Taylor are considering the possibility of teaching swimming to kids during the summer. A local swim club opens its poolat noon each day, so it is available to rent during the morning. The cost of renting the pool during the 10-week period for which Molly and Kathleenwould need it is $1,700. The pool would also charge Molly and Kathleen an admission, towel service, and life guarding fee of $7 per pupil, andMolly and Kathleen estimate an additional $5 cost per student to hire several assistants. Molly and Kathleen plan to charge $75 per student for the10-week swimming class. If Molly and Kathleen want to make a profit of $5,000 for the summer, how many pupils do they need to enroll?
- Molly Dymond and Kathleen Taylor are considering the possibility of teaching swimming to kids during the summer. A local swim club opens its poolat noon each day, so it is available to rent during the morning. The cost of renting the pool during the 10-week period for which Molly and Kathleenwould need it is $1,700. The pool would also charge Molly and Kathleen an admission, towel service, and life guarding fee of $7 per pupil, andMolly and Kathleen estimate an additional $5 cost per student to hire several assistants. Molly and Kathleen plan to charge $75 per student for the10-week swimming class. How many pupils do Molly and Kathleen need to enroll in their class to break even?Hannah Byers and Kathleen Taylor are considering the possibility of teaching swimming to kids during the summer. A local swim club opens its pool at noon each day, so it is available to rent during the morning. The cost of renting the pool during the10-week period for which Hannah and Kathleen would need it is $1,700. The pool would also charge Hannah and Kathleen an admission, towel service, and life guarding fee of $7 per pupil, and Hannah and Kathleen estimate an additional $5 cost per student to hire several assistants. Hannah and Kathleen plan to charge $75 per student for the 10-week swimming class. a. How many pupils do Hannah and Kathleen need to enroll in their class to break even? b. If Hannah and Kathleen want to make a profit of $5,000 for the summer, how many pupils do they need to enroll? c. Hannah and Kathleen estimate that they might not be able to enroll more than 60 pupils. If they enroll this many pupils, how much would they need to charge per pupil in order to…Henrietta, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of expanding the chain into a city in the Northeast. She incurs $60,000 of expenses associated with this investigation. Based on the regulatory environment for hotels in the city, she decides not to expand. During the year, she also investigates opening a restaurant that will be part of a national restaurant chain. Her expenses for this are $54,400. She proceeds with opening the restaurant, and it begins operations on May 1. Determine the amount that Henrietta can deduct in the current year for investigating these two businesses. In your computations, round the per-month amount to the nearest dollar and use rounded amount in subsequent computations. a. The deductible amount of investigation expenses related to expansion of her hotel chain into another city? b. The deductible amount of investigation expenses related to opening a restaurant?