mework: Chapter 3 Homework on list ion 10 K Part 2 of 7 Points: 0.48 of 2 Save The Express Banquet has two restaurants that are open 24 hours a day. Fixed costs for the two restaurants together total $456,000 per year. Service varies from a cup of coffee to full meals. The average sales check per customer is $9.50. The average cost of food and other variable costs for each customer is $3.80. The income tax rate is 30%. Target net income is $159,600. Requirements 1. Compute the revenues needed to earn the target net income. 2. How many customers are needed to break even? To earn net income of $159,600? 3. Compute net income if the number of customers is 170,000. Zion 11 ion 12 tion 13 tion 14 tion 15 Requirement 1. Compute the revenues needed to earn the target net income. Using the equation method, select the basic formula used to compute the revenues needed to earn the target net income. Revenues Variable costs The revenues needed to earn the target net income is Zion 16 e solve this Etext pages Get more help Fixed costs Target net income 1- Tax rate Clear all Check