How much should you bid for the contract for Nebraska Wesleyan assuming you expect to earn 25% on the job?
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You own a catering business in the city of Lincoln, Ne, “Out of this World Gyros”. Your specialty are gyros as well as other authentic Greek dishes. You have been asked to cater an event for Nebraska Wesleyan University. Nebraska Wesleyan has requested a bid for you to cater 1,100 guests. As you reviewed your prior contracts you found that you catered an event for 300 at an average cost $4.15; an event for 750 at an average cost $3.90; and an event for 1,200 at an average cost of $3.75. How much should you bid for the contract for Nebraska Wesleyan assuming you expect to earn 25% on the job?
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- Hannah Ortega is considering expanding her business. She plans to hire a salesperson to cover trade shows. Because of compensation, travel expenses, and booth rental, fixed costs for a trade show are expected to be $10,780. The booth will be open 22 hours during the trade show. Ms. Ortega also plans to add a new product line, ProOffice, which will cost $180 per package. She will continue to sell the existing product, EZRecords, which costs $94 per package. Ms. Ortega believes that the salesperson will spend approximately 12 hours selling EZRecords and 10 hours marketing ProOffice. Required a. Determine the estimated total cost and cost per unit of each product, assuming that the salesperson is able to sell 78 units of EZRecords and 59 units of ProOffice. b. Determine the estimated total cost and cost per unit of each product, assuming that the salesperson is able to sell 205 units of EZRecords and 110 units of ProOffice. Note: For all requirements, round "Cost per unit" to 2 decimal…Hannah Ortega is considering expanding her business. She plans to hire a salesperson to cover trade shows. Because of compensation, travel expenses, and booth rental, fixed costs for a trade show are expected to be $14,850. The booth will be open 33 hours during the trade show. Ms. Ortega also plans to add a new product line, ProOffice, which will cost $180 per package. She will continue to sell the existing product, EZRecords, which costs $92 per package. Ms. Ortega believes that the salesperson will spend approximately 23 hours selling EZRecords and 10 hours marketing ProOffice. Required a. Determine the estimated total cost and cost per unit of each product, assuming that the salesperson is able to sell 70 units of EZRecords and 46 units of ProOffice. b. Determine the estimated total cost and cost per unit of each product, assuming that the salesperson is able to sell 192 units of EZRecords and 104 units of ProOffice. Note: For all requirements, round "Cost per unit" to 2 decimal…Sure Care Health Maintenance Organization is seeking a managed care contract with a local manufacturing plant. Sure Care estimates that the cost of providing preventative and curative care for the 300 employees and their families will be $36,000 per month. The manufacturing company offered Sure Care a premium bid of $200 per employee per month. If Sure Care accepts this bid and contracts with the manufacturing firm, will Sure Care earn a profit or loss for the year? How much? Describe the steps you used to solve this question.
- Hannah Ortega is considering expanding her business. She plans to hire a salesperson to cover trade shows. Because of compensation, travel expenses, and booth rental, fixed costs for a trade show are expected to be $10,660. The booth will be open 26 hours during the trade show. Ms. Ortega also plans to add a new product line, ProOffice, which will cost $190 per package. She will continue to sell the existing product, EZRecords, which costs $103 per package. Ms. Ortega believes that the salesperson will spend approximately 16 hours selling EZRecords and 10 hours marketing ProOffice. Required a. Determine the estimated total cost and cost per unit of each product, assuming that the salesperson is able to sell 73 units of EZRecords and 59 units of ProOffice.Green Doors manufactures and sells custom folding doors for enclosed porches. Green also providesinstallation service for the doors. The installation process does not involve changes in the doors, so thisservice can be provided by other vendors.Green enters into the following contract on May 1, 2023, with a local homeowner. The customer purchases adoor for a price of $7,500 and chooses Green to do the installation. The price of the installation service is$1,000. The customer agrees to pay Green $5,000 upon delivery of the door and the remaining balance uponinstallation of the doors. The door is delivered on July 1, 2023. Green completes installation on August 15,2023, and the customer pays the balance due.d) Prepare the journal entries for July 1 and August 15Sandhill Windows manufactures and sells custom storm windows for three-season porches. Sandhill also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Sandhill enters into the following contract on July 1, 2025, with a local homeowner. The customer purchases windows for a price of $2,360 and chooses Sandhill to do the installation. Sandhill charges the same price for the windows irrespective of whether it does the installation or not. The installation service is estimated to have a standalone selling price of $534. The customer pays Sandhill $2,136 (which equals the standalone selling price of the windows, which have a cost of $1,110) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2025, Sandhill completes installation on October 15, 2025, and the customer pays the balance due. Prepare the journal entries…
- Sandhill Windows manufactures and sells custom storm windows for three-season porches. Sandhill also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Sandhill enters into the following contract on July 1, 2025, with a local homeowner. The customer purchases windows for a price of $2,440 and chooses Sandhill to do the installation. Sandhill charges the same price for the windows irrespective of whether it does the installation or not. The installation service is estimated to have a standalone selling price of $534. The customer pays Sandhill $2,136 (which equals the standalone selling price of the windows, which have a cost of $1,130) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2025, Sandhill completes installation on October 15, 2025, and the customer pays the balance due. Prepare the journal entries…A friend of yours owns a kitchen manufacturing business in Limerick City called Blurred Kitchens Limited. The business employs twenty-six people and these comprise fully qualified carpenters, trainee carpenters, sales staff, delivery staff and administration staff. Your friend has recently received a job proposal from a large developer in Donegal to manufacture and fit kitchens for 25 houses in a housing estate in Donegal Town. The work will take eight weeks to fully complete. He has made out the following financial details for you to study and has asked you to write a formal consultancy report for which you will be financially rewarded.Raw materialsThe chief raw material that Blurred Kitchens Limited uses in all its kitchens is an Indonesian timber. This timber will cost GH₵4,600 per kitchen. There is already, in stock, enough timber to make and fit 5 kitchens. This stock of timber had originally cost GH₵3,280 per kitchen but hassince increased in price. Supplementary materials will…A friend of yours owns a kitchen manufacturing business in Limerick City called Blurred Kitchens Limited. The business employs twenty-six people and these comprise fully qualified carpenters, trainee carpenters, sales staff, delivery staff and administration staff. Your friend has recently received a job proposal from a large developer in Donegal to manufacture and fit kitchens for 25 houses in a housing estate in Donegal Town. The work will take eight weeks to fully complete. He has made out the following financial details for you to study and has asked you to write a formal consultancy report for which you will be financially rewarded.Raw materialsThe chief raw material that Blurred Kitchens Limited uses in all its kitchens is an Indonesian timber. This timber will cost GH₵4,600 per kitchen. There is already, in stock, enough timber to make and fit 5 kitchens. This stock of timber had originally cost GH₵3,280 per kitchen but has since increased in price. Supplementary materials will…
- A friend of yours owns a kitchen manufacturing business in Limerick City called Blurred Kitchens Limited. The business employs twenty-six people and these comprise fully qualified carpenters, trainee carpenters, sales staff, delivery staff and administration staff. Your friend has recently received a job proposal from a large developer in Donegal to manufacture and fit kitchens for 25 houses in a housing estate in Donegal Town. The work will take eight weeks to fully complete. He has made out the following financial details for you to study and has asked you to write a formal consultancy report for which you will be financially rewarded. Raw materials The chief raw material that Blurred Kitchens Limited uses in all its kitchens is an Indonesian timber. This timber will cost GH₵4,600 per kitchen. There is already, in stock, enough timber to make and fit 5 kitchens. This stock of timber had originally cost GH₵3,280 per kitchen but has since increased in price. Supplementary materials…You have been working for your cousin (owner of a Little Nero Caesar Salad franchise). The franchise company is now offering you a chance to franchise one of their new Big Bird Stick-e-Chicken shops (which will sell their honey-roasted chicken-on-a-stick). You estimate your Big Bird chicken shoppe can gross 60% of Little Nero’s annual $600,000 sales. Shop space is available between Down Under Sandwiches and Little Nero Salads that leases for $8,400 a year (but the property owner also wants an additional yearend rent bonus of 3% of your estimated gross sales over $300,000). You will have to invest $40,000 of your own savings (thus foregoing the 5% per annum interest this is presently earning you). A bank will loan you $100,000 (on which you will pay annual interest of $7,000). NOTE: neither the bank loan principle you borrow from the bank nor the $40,000 of your own money you invest is an explicit or implicit cost. However, the interest you pay on the loan is explicit and the…Having recently graduated with a visual arts degree, Zane is considering starting a new business in this field, selling exotic artwork. He believes he can sell each piece of artwork for an average price of $600. The suppliers of the artwork will be paid a commission of 25% of the price. Artwork will be packed and delivered to the customer. Zane estimates that packing and delivery costs should be about $30 per product. There will be additional expenses associated with running the store. Rent will be $5,400 per month. Utilities (which it is assumed will not vary from month to month) will be $990 per month. Insurance and other expenses will be $750 per month. He plans to pay himself and one sales assistant salaries of $10,500 per month ($7,500 for himself and $3,000 for his assistant). The tax rate is assumed by Zane to be 30%. Required: a. Based on the information how many pieces of artwork per month would Zane need to sell to break even? Show all workings. b. If Zane wanted to earn a…