Any help with explaining the thought process would be extremely appreciated!

Williams Auto has a machine that installs tires. The machine is now in need of repair. The machine originally cost $11,800 and the repair will cost $2,800, but the machine will then last two years. The labor cost of operating the machine is $0.70 per tire. Instead of repairing the old machine, Williams could buy a new machine at a cost of $8,000 that would also last two years; the labor cost would then be reduced to $0.30 per tire. Williams expects to install 11,800 tires in the next two years. Required: a. Determine the total (two-years) cost for both repairing and replacing the machine. b. Should Williams repair or replace the machine? Repair Replace Lance's Diner has a hot-lunch special each weekday and Sunday afternoon. The cost of food and other variable costs for each meal served is $3.00; weekly fixed costs (e.g., building depreciation and equipment rental costs) are $6,200, regardless of how many days the diner is open per week. Lance has an average of 600 customers per day. Required: a. What is the lowest price in total (not per meal) that Lance should charge for a special group of 300 that wants to come on Saturday for a family reunion? b. What should be the lowest price per mea/ that Lance should charge for the hot-lunch special served on weekdays and Sunday afternoons? (Round "Lowest price per meal" answer to 2 decimal places.) Grant Industries, a manufacturer of electronic parts, has recently received an invitation to bid on a special order for 25,500 units of one of its most popular products. Grant currently manufactures 51,000 units of this product in its Loveland, Ohio, plant. The plant is operating at 50% capacity. There will be no marketing costs on the special order. The sales manager of Grant wants to set the bid at $11 because she is sure that Grant will get the business at that price. Others on the executive committee of the firm object, saying that Grant would lose money on the special order at that price. Required: 2. What is the relevant cost per unit? What do you think the minimum short-term bid price per unit should be? What would be the impact on short-term operating income if the order is accepted at the price recommended by the sales manager? 4. What would the total opportunity cost be if by accepting the special order the company lost sales of 6,900 units to its regular customers? Assume the preceding facts plus a normal selling price of $24 per unit. Complete this question by entering your answers in the tabs below. What is the relevant cost per unit? What do you think the minimum short-term bid price per unit should be? What would be the impact on short-term operating income if the order is accepted at the price recommended by the sales manager? What would the total opportunity cost be if by accepting the special order the company lost sales of 6,900 units to its regular customers? Assume the preceding facts plus a normal selling price of $24 per unit