you are serving a wine special: a 5 ounce glass of wine for $7.00. you purchase 2 cases of 750-ml bottles of wine (12 per case) for $215.76. At the end of the week 3 bottles remain. what is the percent of wine that remains, how many glasses of wine did you sell and what is the beverage cost percent?

you are serving a wine special: a 5 ounce glass of wine for $7.00. you purchase 2 cases of 750-ml bottles of wine (12 per case) for $215.76. At the end of the week 3 bottles remain. what is the percent of wine that remains, how many glasses of wine did you sell and what is the beverage cost percent?

Name: you are serving a wine special: a 5 ounce glass of wine for $7.00. you
Uploaded: 2024-03-20T06:57:05.000Z
Channel: Bartleby
Description: you are serving a wine special: a 5 ounce glass of wine for $7.00. you purchase 2 cases of 750-ml bottles of wine (12 per case) for $215.76. At the end of the week 3 bottles remain.what is the percent of wine that remains, how many glasses of wine di

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...

See similar textbooks

Similar questions

Which of the following changes in cost-volume-profit factors will reduce the break-even point? Group of answer choices a. A decrease in total fixed cost d. An increase in total fixed cost b. A decrease in selling price c. An increase in unit variable cost In a contribution income statement Group of answer choices a. Costs are classified as to function b. Fixed and variable manufacturing costs are combined as one level item d. Fixed manufacturing costs are shown separately from variable manufacturing costs, but fixed and variable operating costs are combined as one line item c. Fixed costs are shown separately from variable cost
Heineken sells beer in 12 packs for $13, in 24 packs for $25, and in 5-liter mini- kegs for $21. Assume that there is 0.355 liter per beer in a multipack. On a cost-per-liter level, which offers customers the best price? In comparing the price of a 24-pack to 12-pack on a per-liter basis, what kind of price segmentation is being used? In comparing the price of a 24-pack to 5-liter mini-keg, what kind of price segmentation is being used? Which psychological effects might drive customers to purchase a 5-liter keg?
1. Let’s say that last November you have sold 10,000 pieces of chrysanthemum at 25 pesos each. For every piece sold, you will be given a commission of 10%. How much was your total commission? * a. 2.50 b. 225,000 c. 10,000 d. 250,000 e. 25,000 2. Camille forecasts to sell 575 units of the perfume she is selling by the first week of December. At the end of the 1st week of December, she was able to disposed 500 perfumes at Php150 each. Of these 500 units, she gave a total of 20 giveaways. The total cost for each perfume is Php120. Determine Camille’s sale volume variance to assess how the variance affect the total profit. * a. 11,250 b. 1,500 c. 9,000 d. 2,250
AutoTime, a manufacturer of electronic digital timers, has a monthly fixed cost of $50,000 and a production cost of $7 for each timer manufactured. The timers sell for $15 each. (a) What is the cost function C(x)?C(x) = (b) What is the revenue function R(x)?R(x) = (c) What is the profit function P(x)?P(x) = (d) Compute the profit (loss) corresponding to production levels of 3000, 6000, and 11,000 timers, respectively. (Input a negative value to indicate a loss.) 3000 timers $ 6000 timers $ 11,000 timers $
Costco can purchase a bag of Starbucks coffee for $20.00 less discounts of 20%, 15%, and 7%. It then adds a 40% markup on cost. Expenses are known to be 25% of the regular unit selling price. a. What is the cost of the coffee? What is the regular unit selling price? How much profit will Costco make on a bag of Starbucks coffee? What markup on selling price percentage does this represent? Repeat questions (a) through (d) if the list price changes to $24.00.
Your company makes hand sanitizer in two lines: Moisturizing+, and StandardSoap. On the market, Moisturizing+ retails for $175/L and StandardSoap retails for $95/L. You make the hand sanitizer by combining lotion, soap, and secret ingredient SpecialX. These ingredients are purchased from a mysterious supplier, and you can purchase at most 4000L of lotion, 5000L of soap, and 750L of SpecialX in a month. Lotion costs $25/L, soap costs $10/L, and SpecialX costs $35/L. To make 1L of Moisturizing+, you need to combine 0.5L of lotion, 0.3L of soap, and 0.2L of SpecialX. To make 1L of StandardSoap, you need to combine 0.4L of lotion, 0.55L of soap, and 0.05L of SpecialX. Your company has committed to donating 500L of StandardSoap to a local charity. Since this is a donation, you will not receive any revenue. However, the costs and purchasing limits apply to both the hand sanitizer that is sold on the market and donated to charity. You want to maximize your monthly profit. Assume that…
You have a fruit stand. At the beginning of each week, you order some fruit, and sell it retail at a 100% markup. For example, a piece of fruit that you sell retail for $5 cost you $2.50. At the end of the week, any fruit not sold is sold to a juicer for 40% of what you paid for it (or 20% of the retail price). (For example, you pay $2.50 for a piece of fruit, which you can sell retail for $5, but if you don't sell it retail you can sell it to a juicer for $1.) The average amount of fruit that your customers want to purchase that week is $10,000 (Retail. In other words, you paid 5,000 for it.). This amount is distributed normally, with a standard deviation of $1,000. To maximize your long term profits, how much fruit (in terms of retail price) should you purchase each week? Round, if necessary, to the nearest $10.
The total ingredient(food) cost in a recipe is $4.73 the manager desires a 37.5 percent food cost. What is the base selling price of the item using the ingredients mark up method? Should the manager price the item in the above example at the base selling price you calculated? Why or Why not?
What factors are most likely to affect the demandfor the lines of Washburn guitars (a) bought by afirst-time guitar buyer and (b) bought by a sophisticated musician who wants a signature model?
The most critical challenge for Chase in my opinion, was customer retention. My analysis of the value of the 100k points and point accumulation rate vs annual and merchant fees and interest suggested that Chase is actually spending most of the merchant fees on points (merchant fees are 1.5 to 2.2 cents/$, point accumulation is 1.5 cents/$) and $300 of the $450 annual fee on travel credit. I assumed that interest income would be small, just enough to cancel out administrative expenses, because affluent customers with plenty of money don't need to run balances and know how to manage their finances. At this rate, even with high spending customers, per customer annual margin will be about $400 so it could take between 3 and four years to pay off the initial investment in points alone (ignoring other customer acquisition costs, like advertising). Since retention rates are typically 60-90%, Chase could easily lose money if retention wasn't high. I suggested that they offer a retention…
Lovely Apparel must decide how many sets of assorted summer wear to order for its three stores. Information on pricing, sales, and inventory costs has led to the following payoff table, in thousands. Demand Order Size Low Medium High 1 set 12 15 15 2 sets 9 25 35 3 sets 6 35 60 What decision should be made by the optimist? What decision should be made by the conservative? What decision should be made using minimax regret?
Dr. Jones recently asked Lucy to develop a fee schedule for the office. Some physician practices bill at rates from 100% to 500% of Medicare. However, both percentages have disadvantages. Lucy must determine the best approach for the practice to ensure profitability. Select an appropriate percent, between 100% to 500%, that Lucy should use when setting the in-office fees. Explain why Lucy should choose this percentage. Explain how the conversion factor for the fee schedule is determined. Discuss two disadvantages of setting the office fee schedule at 100% or 500% of Medicare.