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Problem
Quick bites has a restaurant that is opened all day. Fixed costs total $450,000 per year. Service varies from a cup of coffee to full meals. The average sale per customer is $8.00. The average cost of food and other variable costs for each customer is $3.20. The Income Tax rate is 30%. Target Net Income is $105,000.
(a) Compute the revenues needed to earn the target net income.
(b)
(i) How many customers are needed to break-even?(ii) How many customers are needed to earn a net Income of $105,000?
The recorded amounts all approximate current values except for land (fair value of $60,400), Prepare July 1 entry for Cheyenne Corporation to record purchase
What is Joan's filing status for 2013, 2014, 2015, and 2016? Would Joan's filing status change if Marley attended school full-time rather than part-time? If so,
clarion contractors completed the following transactions and events involving the purchase and operation of equipment
A company with a higher contribution margin ratio is: a) more sensitive to changes in sales revenue. b) less sensitive to changes in sales revenue.
You have been approached by representatives from Oracle (Oracle Financials) and Microsoft (Microsoft Dynamics) regarding your key points. From the second e-Activity, evaluate how your message can be used to enhance their product line and vision.
Texas has just passed a law making it mandatory to have every head of cattle inspected at least once a year for a variety of communicable diseases.
What effect did this accounting for the note have on Gannon's net earnings
A state government collected a tax of $1.00 per pack of cigarettes which is (by law) required to be used to fund health and fitness programs in public schools.
If fixed costs are $700.000 and the unit contribution margn is $14, what amount of units must be sold in order to realize an operating income of $100.000
if fixed costs are 750000 and variable costs are 80 of sales what is the break-even point in sales dollars? if fixed
Discuss the principles and the nature of the accounting treatment of the above plans under International Financial Reporting Standards setting out any impact.
on january 1 of year 1 arthur and aretha franklin purchased a home for 1.40 million by paying 230000 down and borrowing
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