Instructions: This homework set has 4 Problems. The total credit for this homework set is 20.

. Problem 1: (5 Points)The Willow Furniture Company products tables. The fixed monthly cost of production is $8000, and the variable cost per table is $65. The tables sell for $105 a piece. (a) For a monthly volume of 300 table, determine the total cost, total revenue, and profit. 1 Point

(b) Determine the monthly break-even volume for the company. (2

Problem 2: (5 Points)Gobblecakes is a bakery that specializes in cupcakes. The annual fixed cost to make cupcakes is $18,000. The variable cost including ingredients and lab or to make a cupcake is $0.90. The bakery sells cupcakes for $4.20 a piece.

(a) If the bakery sells 12,000 cupcakes annually, determine the total cost, total revenue, and profit. (1 Point)

(b) How many cupcakes will the bakery need to sell in order to break even? (2 Points)