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Point 1: Panici's Restaurant is considering whether to bake bread in-house or buy the bread from a local bakery for $1.60 per loaf. The restaurant uses 1,000 loaves of bread each month. Based on this volume, the chef estimates that the variable costs of making each loaf are $.45 for ingredients, $.75 for direct labor (kneading and forming the loaves) and $.25 for variable overhead (electricity). Fixed overhead (depreciation on equipment and building) is allocated based on direct labor and is $.96 per loaf.
Question 1: Should Panici bake the bread in-house or buy from the bakery?
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