Reference no: EM133104277
Problem - Ex4Funds Pty Ltd runs excursions for school children during their school holiday. It specialises on day trips. Students are transported by bus to the destination. Each bus, each trip can accommodate 20 students maximum. The following is the cost information:
Transportation cost (bus), including driver $2,000 per trip
Staff wage (trip leader) $300 per trip
Variable cost per unit (food per student) $20
Variable cost: Activities (per student) $50
Variable cost: Insurance (per head) $25
Required -
1. Assuming a maximum number of 20 students. To generate a desired profit of $2,000 per trip, the ticket price charged to each student would be:
a. $310
b. $219.75
c. $6,200
d. $4,395
Q2. Where there are only 10 students attending the excursion, the total revenue required to break even is?
a. $325
b. $3,250
c. Cannot determine
d. $2,395
Q3. Assuming that this trip has only 10 students. The business still wants to make a profit of $2,000 per trip. How much should they charge each student if they want to make this level of profit?
a. $5,250
b. $4,395
c. $525
d. $439.50
Q4. A business that is not a separate legal entity, where any claims for business debts can be made against the owner's personal assets, is a:
a. Trust.
b. Proprietary company.
c. Sole trader.
d. Joint venture.
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