Question: Please calculate step by step. Thank you so much for your help! Mr. and Mrs. Jackson decided to open a Chinese Restaurant in Arizona. They

 Please calculate step by step. Thank you so much for your

Please calculate step by step. Thank you so much for your help!

Mr. and Mrs. Jackson decided to open a Chinese Restaurant in Arizona. They noticed the restaurant for lease. The restaurant has seven tables, each of which seat four. Tables can be moved together for a large party. Jacksons are planning two seatings per evening, and the restaurant will be open. 50 weeks per year. Jackson have drawn up the following estimates: Average revenue including beverages and dessert.. Average Cost of the Food Chef's and dish washers Salaries. Rent (Premises and equipment). Cleaning (linen and Premises Replacement of dishes, cutlery and glasses. Utilities, advertising, telephone 50 $/meal 15 $/meal 49.800 $/year .3.700 $/month 900 $/month 400 $/month 2.000 S/month 1) Calculate annual breakeven (Target profit zero ) meal by contribution margin approach" and Calculate Sales revenue in break even point. 2) Calculate the Sales Revenue needed to earn operating income of 80.000$ for the year. 3) How many meals must Jackson Restaurant serve each night to earn their target income of 80.000$? 4)Should the couple open the restaurant

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!