Determine the cost and profit of product, Business Management

Assignment Help:

You have decided to sell some goods at a local music festival. You have hired a sales stand for $500. Your cost per item is $3 and you will sell each item for $5. When you did your initial calculations, you expect to sell 300 items and have purchased 500 just to be sure. You can return any un-sold items to the supplier and get your $3 back.

(a) What benefits do you expect?

(b) What costs did you expect?

(c) Suppose that due to rain the prospects look bad and you now only expect to sell 200 items. At this point you have already paid the $500 for the stand, but you can decide not to sell if you want. Would you prefer to not sell now?

(d) What other costs might you have that have not been expressed here? Would they perhaps change your answer to (c)?


Related Discussions:- Determine the cost and profit of product

Define the scope of total quality management in brief, Define the scope of ...

Define the scope of total quality management in brief. Scope of TQM: Total Quality Management is a system approach to quality within all spheres of organisation. It impli

Benefits of having and environment management system, Question 1: (a) W...

Question 1: (a) What is the purpose of the EIA process (b) Differentiate between the terms environment impact and environmental aspect (c) Do you think public participati

..greening an organisation, greening an organisation and the effects that m...

greening an organisation and the effects that might affect greening an organisation

Managing public and private welfare institutions, QUESTION (a) Managing...

QUESTION (a) Managing Public and Private Welfare Institutions has assumed major importance in the modern era. Discuss this statement giving suitable examples. (b) Welfare In

Discuss the functions of a theory in communication, QUESTION 1 What acc...

QUESTION 1 What according to you are the essentials of effective communication? QUESTION 2 List out and discuss the various factors that affect communication. QUEST

Write short notes on casual labour, Q. What do you mean by casual labour an...

Q. What do you mean by casual labour and what are the rules for their recruitment and benefits admissible to them after they attain temporary status. Write short notes on casual

Unsolicited job application letter to a company, Write an unsolicited job a...

Write an unsolicited job application letter to a company that you would like to work for in a specific position. Include a one page profile about yourself

Discuss the project management knowledge areas, Question: (a) Project ...

Question: (a) Project Integration Management refers to the integration of the nine Knowledge areas and project phases, coordinating project activities to ensure that the proje

Explain effective decision making process, Question 1: (a) Why is the f...

Question 1: (a) Why is the function of controlling important to an organisation? (b) What are the steps that need to be followed in implementing an effective control system?

Option for organising business, compare the liability of the owners of part...

compare the liability of the owners of partnerships, sole proprietorship and corporations.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd