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MGT100 – Introduction to Accounting

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Part A
1) Miriam’s sister also has a business called Jasmine’s Munchies’ that prepares lunches for sale each day, 5 days a week, from Jasmine’s lunch bar.The variable costs to make each lunch average $3.00 per lunch.The average sale price for each lunch is $8.99.Jasmine’s weekly fixed costs (advertising, rates, mortgage interest and others) total $410 per week.
a) What is Jasmine’s average contribution margin per lunch?
b) Calculate the average number of lunches Jasmine must make and sell each week to break even.
c) Jasmine has a target profit of $3,100 per week. How many lunches must she sell on average each week to achieve this goal?

MGT100 – Introduction to Accounting

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More MGT100 MGT100 – Introduction to Accounting: Questions & Answers

Q

Accounting for Business Decisions

Part 1Provide an executive summary which will include overview of subject matter, methods of analysis, findings and recommendations.Part 2Use the latest annual report. The group will need to review the major sections of this report in order to be familiar with the content of each of the financial st ...

View Answer
Q

Business Management

Write a report (maximum 2000 words) to discuss the economic consequences of nonfinancial information reporting. In your report, you are required to: Identify and discuss the nature of nonfinancial information. Identify and discuss of the nature of economic consequences. Integration of the discussion ...

View Answer
Q

Business Processes and Flowchart

Task Q1 Flowchart - 10 Marks Emporium Trading Company purchases products from Asia and then resells them to local retailers. During the last 2 years demand for the imported products has increased significantly. Emporium Trading is expanding its local operations, including a new information system, t ...

View Answer
Q

Management

Topic: Does the current accounting framework meet the needs of the users of financial reports as prescribed in the objective of the Conceptual Framework of Accounting? How the conceptual framework revision to include Prudence is likely to address the disparity in Corporate Reporting is a requirement ...

View Answer

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