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You must track your overall revenue if you want to know how much money your company makes from all of the products and services it sells.
Total revenue indicates how much money your company makes before spending. And, because revenue is so important for growth, it's a measure that every business should keep track of.
We'll go over all you need to know about total income in this article.
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Solved in 2 steps
- 1-23 Golden Age Retirement Planners specializes in providing financial advice for people planning for a comfortable retirement. The company offers seminars on the important topic of retirement planning. For a typical seminar, the room rental at a hotel is $1,000, and the cost of advertising and other incidentals is about $10,000 per seminar. The cost of the materials and special gifts for each attendee is $60 per person attending the seminar. The company charges $250 per person to attend the seminar, as this seems to be competitive with other companies in the same business. a.How many people must attend each seminar for Golden Age to break even? b.If 75 people were to attend, has the company made a profit or loss? (show your work and highlight the answer).1-18 Katherine D’Ann is planning to finance her college education by selling programs at the football games for State University. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee that is paid to the university for the right to sell these programs. If Katherine was able to sell programs for $5 each, how many would she have to sell in order to break even?d = annual demand for a product in units p = price per unit Assume that a firm accepts the following price-demand relationship as being a realistic represenation of its market: d = 800 - 10p; where p must be between $20 and $70. How many units can the firm sell at the $20 per unit price? And $70 per unit price? By how many units does a $1 increase decrease the demand?
- Round off your final answer to whole #. A company produces and sells a consumer product and is able to control the demand by varying the selling price. The approximate relationship between price and demand is p=45 + 2700/D - 5000/D2 for D > 1 The company is seeking to maximize its profit. The fixed cost is $1,000 and the variable cost is $38 per unit. What is the number of units that should be produced and sold each month to maximize profit?Agnes, a General Manager in XXX Company, estimated a multiplicative demand function of the form: using a cross-section data collected in the company sales on 30th June, 2019. The estimation results are as follows: Constant Price(P) Income (I) Price of other Good (Po) Estimated coefficient 0.022 -0.223 1.354 0.133 Standard Error 0.012 0.056 0.502 0.814 t-statistic (1.19) (-3.98) -2.69 -0.13 Number of Observations, n=210; R-squared= 0.7516 Critical Students t=1.96 at 5% Level of Significance Write down the estimated demand equation Interpret the coefficients and value Describe any three managerial decisions that can be applied by the manager from the estimated demand functionFG Manufacturers wants to determine the effectiveness of their pricing decisions for their product Lylo. As a consultant, you have been asked to develop cost functions that will assist in arriving at the optimal price that will enable the company to maximize profits. During the year, you were provided with the following demand and costs functions for the product: P = 400 – 6Q; where P is the unit selling price and Q is quantity in thousands of units. TC = 8Q2 + 36Q + 150; where TC is total cost in thousands of dollars. Determine the optimal sales revenue. Calculate the maximum profit. Briefly outline two (2) factors to be considered by managementswhen pricing decisions are being made.
- The management believes that every 9% decrease in the selling price of one of the company's products would lead to a 15% increase in the product's total unit sales. The product's variable cost is ₱11.80 per unit. The product's price elasticity of demand is closest to: a. -1.12 b. -1.34 c. -1.61 d. -1.48 The product's profit-maximizing price is closest to: a. ₱31.19 b. ₱46.07 c. ₱106.31 d. ₱36.28. The cost of a window air conditioner was $350. During a spring promotion, the selling price was reduced by $150. The required overhead expenses and operating profit for the air conditioner are 25% and 15% of selling price respectively. a) What is the regular selling price? b) What is the break-even price? c) What is the profit (loss) at the sale price? 3. Frigid Boards purchases one of its snowboards for $395 less a retail trade discount of 15% and a loyalty discount of 4%. Its markup on selling price percentage on all snowboards is 21%. At the end of the season, any leftover snowboards are marked down by 10%. What is the sale price of snowboard?Total price: $307.32 Tax or tip rate: 20% Enter the correct answer
- The price for cigarettes sold by Big Tobacco Co Ltd was6.00 per packet in March 2018. During the month of March, the consumption of cigarettes was 1000 packets. However, the Board of Directors of Big Tobacco Co Ltd decided to increase the price by 25% during the month of April. As a manager you noted that price elasticity of demand was 0.8. As a manager Big Tobacco Co Ltd: Advise your management ofthe strategy that could be adopted by your firm to maintain sales.he price for cigarettes sold by Big Tobacco Co Ltd was6.00 per packet in March 2018. During the month of March, the consumption of cigarettes was 1000 packets. However, the Board of Directors of Big Tobacco Co Ltd decided to increase the price by 25% during the month of April. As a manager you noted that price elasticity of demand was 0.8. As a manager Big Tobacco Co Ltd: Advise your management ofthe strategy that could be adopted by your firm to maintain sales. Also, advise your government on recommended interventions in the cigarette market.The price for cigarettes sold by Big Tobacco Co Ltd was6.00 per packet in March 2018. During the month of March, the consumption of cigarettes was 1000 packets. However, the Board of Directors of Big Tobacco Co Ltddecided to increase the price by 25% during the month of April. As a manager you noted that price elasticity of demand was 0.8. As a manager Big Tobacco Co Ltd: A. Advise your management of the strategy that could be adopted by your firm to maintain sales. B. Also, advise your government on recommendedinterventions in the cigarette market.