1. Short answer. Waffle Time is a small restaurant located in Vancouver, Canada that specializes in whole-grain waffles served with preserved fruit topping. The restaurant need strawberries, blueberries, peach, and apples to make fruit toppings. What are specific purchasing challenges faced by Waffle Time and how to make sure that the restaurant purchases what it needs at the right price, quality and quantity? (Based on Lesson 4 material)

(The answer can be just a few sentences).

2. Break-even analysis is a tool that almost any business can use for planning and evaluation purposes. It helps identify ______________________ necessary to achieve before an organization starts generating profit.

A) a level of activity

B) a level of costs

C) a level of control

D) a level of cost/benefit ratio

3. A catering company sells its catering packages for $80 per package and has per-package variable costs of $30. What is the contribution margin per unit and what does it mean?

4. Short answer. Alumni Club is a fine-dining establishment you and your 204 course mates will open in 2023. It will be a sustainable operation. Starting as a small restaurant, what specific purchasing challenges you might face? What procedures should you use to minimize these concerns? (Based on Lesson 4 material) (The answer can be just a few sentences or bullets)

Please include all calculations in the following questions, round everything to hundredth of a decimal unless the number naturally rounds up to a whole or tenths of a decimal.

5. What is reorder quantity of tomato cans if the par stock is 29 cans, the product is delivered every 5 days, and the usage is 2 cans per day?

6. This question is worth 2 points. Each answer is worth .5 point.Maple Catering sells single catering packages with a selling price of $75 and variable costs per this package is $30. The company's monthly fixed expenses are $22,500.

1) What is the company's monthly break-even point in single catering packages? (In other words, how many packages the company needs to sell to breakeven?)

2) What is the company's monthly break-even point in dollars?

3) How many catering packages will Maple Catering need to sell in order to reach a target profit of $45,000?

4) What dollar sales will Maple Catering need in order to reach a target profit of $45,000?

7. Find number of customers required to achieve monthly profit of $23,804 if sales price per unit is $15.40, fixed costs are $9,998 and the variable rate is .4. (Rounded to a hundredth of decimal)

8. What are the monthly fixed costs if the contribution rate is .6; sales price per unit is $16.40; number of customers is 3,549 and required profit is $23,000. (Rounded to a hundredth of a decimal)

9. Assume you are a receiving clerk in a fine-dining restaurant. Fifty pounds of strip steak have been delivered. The quality meets the restaurant's criteria, but the quantity and price are different from those ordered over the phone. You have not yet signed the invoice, and the driver is still present. How would you deal with the apparent problems 1) on the spot and 2) in the future? One short paragraph (or a few sentences) will be enough to answer.