Question: please help! Part 2 Read the following scenario which will be the basis for part two of the assignment: Flo is the managing owner of

please help!
please help! Part 2 Read the following scenario which will be the

Part 2 Read the following scenario which will be the basis for part two of the assignment: Flo is the managing owner of the The 1 Pound Charburger "grill at the Gainesville Airport. Her menu is limited. She sells burgers, fries, and drinks, Last week, she served 1400 customers. Most of her guests order at least one burger and a beverage. Some ordered a burger, fries, and a beverage while still others only order fries and a beverage. Some data from last week includes: The CharBurger Weekly Account = 1400 Customers Served Step 1: Fill in the empty boxes on the chart with the following information: NOTE: In your calculations, write dollar values as S##.##. and do not round. For percentages, however, round to the nearest tenth. Total Res. Contribution Margin Item # Selling Total Rew Item Item (A) Sold Price per Item Cost Contribution (B) (C) (D) (E) Margin (F Burger 950 154.00 SIJS Fries 800 S1.50 S 30 Beverage 1100S1.25 S. 20 Total Step 2: Answer the following questions from your calculations: 2a. What is the item contribution margin for each item? Note: If the item contribution margin is defined as Selling Price (-) Item Cost = Item Contribution Margin 2b. What is the total contribution margin for each item sold? Step 3: Reflect on the data and answer the following question: 2c. Given the data presented, what is the lowest price at which Flo could sell a burger, fries and beverage combination and still equal the "per customer' served contribution margin she currently achieves? * Hint - find the per customer contribution margin and add that to the total item cost

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!